Oakland Multifamily Building with
For Sale
$2,678,000
33rd Street, Oakland, CA 94602
Oakland multifamily property featuring 18 units with historical significance.
Property Size11,123 SF
Lot Size0.22 Acres
Price / SF$240.76
Days on Market554
Property Features for 33rd Street
General Information
Standard status
Active
Size
11,123 SF
Lot size
0.22 Acres
Property subtype
Commercial
Site & Location
Neighborhood
Pill Hill
Amenities
Central air
Corner Lot
No Garage
Carpet Flooring
Ceiling Fan(s) Cooling
Composition Roof
Front Yard
Hardwood Flooring
Level
Natural Gas Heating
Parking Lot
Steam Heating
Tile Flooring
Unassigned
Vinyl Flooring
Window Coverings
Building Details
Year Built
1938
Listing Agency:
FRANK T. HENNEFER, BROKER
(510) 305-5436
Listed By:
FRANK HENNEFER · License #00852682
Source:
Corcoran
Added: May 2, 2025
Changed: Nov 6
Last Checked: Nov 6 at 8:21AM
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 FRANK T. HENNEFER, BROKER
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Investment Insights
Based on property information with market context.
Located on 33rd Street in Oakland, California, this multifamily property features 18 units. The unit mix comprises 6 one-bedroom units and 12 studio units. Constructed in 1938, the building has a history of being relocated. Originally situated near Beaumont Avenue and MacArthur Boulevard, on what is now the 580 Freeway, the property was purchased at auction from the State of California. A stipulation of the sale required the building to be moved from the forthcoming freeway right of way. The owner, who also possessed the vacant lot where the building is currently located, moved the building around 1960-1961. The property has a total size of 11123 square feet.
Key Highlights
- 18 Units Total: Offers a substantial investment opportunity.
- Mix of Unit Types: Includes 6 one‑bedroom and 12 studio apartments.
- Year Built: Constructed in 1938, indicating potential for historical charm.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$234,863
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,697,260
$4.7M
Cap Rate 7%
$3,355,186
$3.4M
Cap Rate 9%
$2,609,589
$2.6M
Market Conditions
NOI Build-Up for 11,123 SF
Gross rent
$447.1K $40.20/SF
− Vacancy
−$20.1K −$1.81/SF
EGI
$427.0K $38.39/SF
− OpEx
−$192.2K −$17.28/SF
NOI
$234.9K $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%
$4,697,260
Cap Rate 7%
$3,355,186
Cap Rate 9%
$2,609,589
Alternative Uses
Best Use
Apartment 5plus
$3.36M
$2.94M – $3.91M
NOI $234,863 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$3.64M
$3.19M – $4.25M
NOI $254,914 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
5,225
Businesses Nearby
Explore this area
Business Placement
Demographics for 94602, CA
29,702
Population
13,072
Households
2.3
Avg Household Size
42
Median Age
58%
College-Educated
89%
High-School Grad
3.6 sq mi
ZIP Area
8,251
Density / Sq Mi
$124,744
Median Household Income
$65,401
Median Earnings
$1,924
Median Rent
$1,111,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Oakland, CA
Properties on Market for Apartment buildings in Oakland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Oakland multifamily property featuring 18 units with historical significance.
Where is this apartment building located?
The property is located at 33rd Street Oakland, CA.
What is the asking price?
The asking price for this property is $2,678,000.
What are key features of this property?
This property features: 18 Units Total: Offers a substantial investment opportunity.; Mix of Unit Types: Includes 6 one‑bedroom and 12 studio apartments.; Year Built: Constructed in 1938, indicating potential for historical charm.
