Multifamily Property with Detached
343 Somerset Road, Oakland, CA 94611
For Sale
$1,295,000
Built in 1949, the property includes a wall furnace and freestanding kitchen appliances.
Property Size2,588 SF
Price / SF$500.39
Days on Market11
Property Features for 343 Somerset Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Amenities
Wall Furnace
Free-Standing Gas Range, Free-Standing Refrigerator
Forest, Mountain(s), Trees/Woods
Detached, Garage
Mid-Century
Building Details
Year Built
Buildings
Stories
Listing Agency:
Compass
Listed By:
Ben Faber · License #01913767
(415) 686-4980
Source:
Evrealestate
Added: Oct 29
Changed: Oct 30
Last Checked: Nov 6 at 8:57AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,588-square-foot multifamily property at 343 Somerset Road in Oakland was built in 1949. The exterior is described as mid-century and includes a detached garage. Interior features include a wall furnace, a freestanding gas range, and a freestanding refrigerator.
Forest, mountain, and trees/woods features are also identified for the property.
Forest, mountain, and trees/woods features are also identified for the property.
Key Highlights
- 2,588‑square‑foot multifamily property
- Built in 1949
- Detached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,181
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,620
$883.6K
Cap Rate 7%
$631,157
$631.2K
Cap Rate 9%
$490,900
$490.9K
Market Conditions
NOI Build-Up for 2,588 SF
Gross rent
$83.9K $32.40/SF
− Vacancy
−$3.5K −$1.36/SF
EGI
$80.3K $31.04/SF
− OpEx
−$36.1K −$13.97/SF
NOI
$44.2K $17.07/SF
Area
ZIP 94611
Vacancy
4.20%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,620
Cap Rate 7%
$631,157
Cap Rate 9%
$490,900
Alternative Uses
Best Use
Apartment 5plus
$631.2K
$552.3K – $736.4K
NOI $44,181 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$953.9K – $1.27M
NOI $76,315 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,060
Businesses Nearby
Explore this area
Business Placement
Demographics for 94611, CA
40,262
Population
19,014
Households
2.1
Avg Household Size
44
Median Age
78%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,515
Density / Sq Mi
$176,517
Median Household Income
$105,393
Median Earnings
$2,274
Median Rent
$1,485,000
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Oakland, CA
Properties on Market for Multifamily properties in Oakland
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1949, the property includes a wall furnace and freestanding kitchen appliances.
Where is this multifamily property located?
The property is located at 343 Somerset Road Oakland, CA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 2,588‑square‑foot multifamily property; Built in 1949; Detached garage
