38-Unit New Construction Apartment
For Sale
Contact for pricing
335 3rd St, Oakland, CA 94607
Planned multifamily development with geothermal systems and sound-isolated residences.
Property Size22,800 SF
Price / SF$745.61
Days on Market176
Property Features for 335 3rd St
General Information
Standard status
Active
Size
22,800 SF
Property subtype
Multifamily
Units
Unit Mix
38 x 1BR
Multifamily Units
38
Additional Details
Public Transit
Yes
Building Details
Year Built
2026
Stories
8
Units
38
Listing Agency:
Howzing
Listed By:
MK Shadman · License #CA01175708
Source:
Crexi
Added: Apr 24
Changed: Sep 14
Last Checked: Oct 14 at 9:41PM
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 Howzing
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Investment Insights
Based on property information with market context.
This 22,800-square-foot apartment property is under development with 38 one-bedroom residences and an estimated completion date of May 15, 2026. The building is designed around efficient contemporary living, with full-sized in-unit washers and dryers, induction cooktops, wall-hung toilets with concealed tanks, and bedroom privacy glass.
Building systems include a closed-loop geothermal ground-source heat pump installation, along with layered sound-isolation assemblies intended to reduce noise transmission between residences and floors. A dual-envelope exterior design is also planned to help limit street noise. Delivery may occur vacant or fully leased, subject to mutually agreed contract terms.
The property is located at 335 3rd St in Oakland, near downtown, transit, and employment centers.
Building systems include a closed-loop geothermal ground-source heat pump installation, along with layered sound-isolation assemblies intended to reduce noise transmission between residences and floors. A dual-envelope exterior design is also planned to help limit street noise. Delivery may occur vacant or fully leased, subject to mutually agreed contract terms.
The property is located at 335 3rd St in Oakland, near downtown, transit, and employment centers.
Key Highlights
- 38 one‑bedroom residences in a new construction multifamily property
- 22,800 SF apartment building under development
- Estimated completion date of May 15, 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$481,423
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,628,460
$9.6M
Cap Rate 7%
$6,877,471
$6.9M
Cap Rate 9%
$5,349,144
$5.3M
Market Conditions
NOI Build-Up for 22,800 SF
Gross rent
$916.6K $40.20/SF
− Vacancy
−$41.2K −$1.81/SF
EGI
$875.3K $38.39/SF
− OpEx
−$393.9K −$17.28/SF
NOI
$481.4K $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 Rate 5%
$9,628,460
Cap Rate 7%
$6,877,471
Cap Rate 9%
$5,349,144
Alternative Uses
Best Use
Apartment 5plus
$6.88M
$6.02M – $8.02M
NOI $481,423 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$7.46M
$6.53M – $8.71M
NOI $522,525 @ 7.0% cap · market cap 3.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
38
Residential units
Location Intelligence
Trade Area within ½ mile
5,456
Businesses Nearby
Explore this area
Business Placement
Demographics for 94607, CA
31,067
Population
14,362
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
5,266
Density / Sq Mi
$87,937
Median Household Income
$67,107
Median Earnings
$1,875
Median Rent
$744,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Planned multifamily development with geothermal systems and sound-isolated residences.
Where is this apartment building located?
The property is located at 335 3rd St Oakland, CA.
What is the asking price?
The asking price for this property is $17,000,000.
What are key features of this property?
This property features: 38 one‑bedroom residences in a new construction multifamily property; 22,800 SF apartment building under development; Estimated completion date of May 15, 2026
