Five-Unit Apartment
For Sale
$1,375,000
33 E Home Place, Oakland, CA 94610
Five-unit complex offers three two-bedroom units and two three-bedroom, one-bath units with a basement below.
Property Size5,019 SF
Price / SF$273.96
Days on Market94
Property Features for 33 E Home Place
General Information
Standard status
Active
Size
5,019 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
5
Building Details
Year Built
1949
Listing Agency:
COMPASS
(916) 698-9954
Listed By:
Willem Bos · License #02013980
(916) 698-9954
Source:
Exitrealty
Added: May 12
Changed: Aug 8
Last Checked: Aug 12 at 5:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMPASS
Investment Insights
Based on property information with market context.
33 E Home Place is a five-unit apartment complex featuring three large two-bedroom units and two three-bedroom, one-bathroom units. The property also includes a 500 sf basement below with a full bath, which may provide an opportunity for an ADU subject to buyer research.
Located near the end of a quiet cul-de-sac in Oakland’s Ivy Hill area, the property is described as offering easy access to the 580 freeway and nearby local shops and restaurants. The building has been seismically retrofitted and is SB-721 compliant.
Located near the end of a quiet cul-de-sac in Oakland’s Ivy Hill area, the property is described as offering easy access to the 580 freeway and nearby local shops and restaurants. The building has been seismically retrofitted and is SB-721 compliant.
Key Highlights
- Five‑unit apartment complex built in 1949 in Oakland’s Ivy Hill neighborhood
- Unit mix: (3) two‑bedroom units and (2) three‑bedroom, one‑bath units
- 500 SF basement below includes a full bath for potential ADU (buyer to verify)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,976
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,119,520
$2.1M
Cap Rate 7%
$1,513,943
$1.5M
Cap Rate 9%
$1,177,511
$1.2M
Market Conditions
NOI Build-Up for 5,019 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$201.8K $40.20/SF
− Vacancy
−$9.1K −$1.81/SF
EGI
$192.7K $38.39/SF
− OpEx
−$86.7K −$17.28/SF
NOI
$106.0K $21.12/SF
Area
Oakland, CA
Vacancy
4.50%
Lease Rate
$40.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,119,520
Cap Rate 7%
$1,513,943
Cap Rate 9%
$1,177,511
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.77M
NOI $105,976 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.64M
$1.44M – $1.92M
NOI $115,024 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,748
Businesses Nearby
Explore this area
Business Placement
Demographics for 94610, CA
31,261
Population
17,926
Households
1.7
Avg Household Size
39
Median Age
73%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
14,886
Density / Sq Mi
$130,435
Median Household Income
$90,577
Median Earnings
$2,184
Median Rent
$1,324,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit complex offers three two-bedroom units and two three-bedroom, one-bath units with a basement below.
Where is this apartment building located?
The property is located at 33 E Home Place Oakland, CA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Five‑unit apartment complex built in 1949 in Oakland’s Ivy Hill neighborhood; Unit mix: (3) two‑bedroom units and (2) three‑bedroom, one‑bath units; 500 SF basement below includes a full bath for potential ADU (buyer to verify)
