Five-Unit Apartment
For Sale
Contact for pricing
348 Jayne Ave, Oakland, CA 94610
Two-story multifamily property with a mixed unit configuration and basement laundry area.
Property Size2,884 SF
Lot Size0.15 Acres
Price / SF$242.37
Days on Market148
Property Features for 348 Jayne Ave
General Information
Standard status
Active
Size
2,884 SF
Class
C
Lot size
0.15 Acres
Property subtype
Multifamily
Zoning
RM-4, S-12, S-13
Occupancy
80%
Investment Type
Value Add
Net Operating Income
$26,733
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
4 x 1BR/1BA, 1 x studio
Multifamily Units
5
Amenities
on-site laundry
Building Details
Year Built
1919
Buildings
2
Stories
2
Units
5
Listing Agency:
Compass Commercial Real Estate
Listed By:
Tony Zizzo · License #CA#01962093
(415) 345-3000
Source:
Crexi
Added: Apr 9
Changed: Sep 2
Last Checked: Sep 1 at 10:15AM
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 Commercial Real Estate
Investment Insights
Based on property information with market context.
This two-story apartment property contains five units within approximately 2,884 square feet on a 0.15-acre parcel. The configuration includes four one-bedroom, one-bathroom apartments and one studio. One unit is vacant, while the remaining units are occupied. A detached garage sits at the rear of the property, and the basement laundry area includes one washer and one dryer. Built in 1919, the property carries RM-4, S-12, and S-13 zoning designations.
The building is located in Oakland’s Adams Point neighborhood near Lake Merritt, Whole Foods, dining, and retail. Interstate 580 provides regional connectivity, and Downtown Oakland is approximately 1.5 miles away. The garage may support separate parking or storage use, while the laundry area provides an additional on-site amenity.
The building is located in Oakland’s Adams Point neighborhood near Lake Merritt, Whole Foods, dining, and retail. Interstate 580 provides regional connectivity, and Downtown Oakland is approximately 1.5 miles away. The garage may support separate parking or storage use, while the laundry area provides an additional on-site amenity.
Key Highlights
- Five‑unit apartment building totaling approximately 2,884 square feet
- Unit mix includes four one‑bedroom/one‑bathroom units and one studio
- Two‑story property on a 0.15‑acre lot, built in 1919
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
Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Paved road access
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 - Two-story multifamily property with a mixed unit configuration and basement laundry area.
Where is this apartment building located?
The property is located at 348 Jayne Ave 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: Five‑unit apartment building totaling approximately 2,884 square feet; Unit mix includes four one‑bedroom/one‑bathroom units and one studio; Two‑story property on a 0.15‑acre lot, built in 1919
