Oakland Multifamily Investment
For Sale
$699,000
Pending
348-352 Jayne, Oakland, CA 94610
Five-unit apartment building in Adams Point neighborhood near Lake Merritt.
Property Size2,884 SF
Lot Size0.15 Acres
Days on Market166
Property Features for 348-352 Jayne
General Information
Standard status
Pending
Size
2,884 SF
Total Parking Spaces
2
Lot size
0.15 Acres
Property subtype
5+ Units / Five or More Units
Taxes and HOA fees
Annual Taxes
$8,933
Amenities
No, Coin Operated, No, 2884, Other, Other
Building Details
Year Built
1919
Buildings
2
Listing Agency:
Compass
(626) 483-5136
Listed By:
Ray Rodriguez · License #01999734
(626) 483-5136
Source:
Compass
Added: Mar 20
Changed: Aug 25
Last Checked: Aug 24 at 12:18PM
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.
Located in Oakland's Adams Point neighborhood, 348-352 Jayne Avenue is a multifamily investment opportunity. The property is near Lake Merritt, offering access to outdoor recreation, dining, retail, and Interstate 580. Downtown Oakland is approximately 1.5 miles away. The two-story apartment building contains five units and totals approximately 2,884 square feet on a 0.15-acre lot. The unit mix includes four one-bedroom/one-bathroom units and one studio. One vacant unit provides immediate upside for renovation and lease at market rents. Additional income potential comes from a detached rear garage and an on-site basement laundry area with one washer and dryer. The property offers investors an opportunity for stable cash flow and long-term appreciation.
Key Highlights
- Prime location in Oakland's highly desirable Adams Point neighborhood, near Lake Merritt, Whole Foods, and Downtown Oakland.
- Immediate income upside from one vacant unit, allowing for renovation and lease at market rents.
- Multifamily investment opportunity with five units (four 1‑bed/1‑bath, one studio) appealing to a broad tenant base.
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
$60,896
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
8.71%
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%
$1,217,920
$1.2M
Cap Rate 7%
$869,943
$869.9K
Cap Rate 9%
$676,622
$676.6K
Market Conditions
NOI Build-Up for 2,884 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
$115.9K $40.20/SF
− Vacancy
−$5.2K −$1.81/SF
EGI
$110.7K $38.39/SF
− OpEx
−$49.8K −$17.28/SF
NOI
$60.9K $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 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%
$1,217,920
Cap Rate 7%
$869,943
Cap Rate 9%
$676,622
Alternative Uses
Best Use
Apartment 5plus
$869.9K
$761.2K – $1.01M
NOI $60,896 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$944.2K
$826.2K – $1.10M
NOI $66,095 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,047
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 apartment building in Adams Point neighborhood near Lake Merritt.
Where is this apartment building located?
The property is located at 348-352 Jayne Oakland, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Prime location in Oakland's highly desirable Adams Point neighborhood, near Lake Merritt, Whole Foods, and Downtown Oakland.; Immediate income upside from one vacant unit, allowing for renovation and lease at market rents.; Multifamily investment opportunity with five units (four 1‑bed/1‑bath, one studio) appealing to a broad tenant base.
