42-Unit Multifamily Value-Add
3525 Dimond Avenue Oakland, CA 94602
3525 Dimond Avenue, Oakland, CA, 94602
$6,750,000
For Sale
$6,750,000
42-unit multifamily building on RM-4 zoning, built in 1963, with significant current vacancy and in-place rent variance.
Property Size22,361 SF
Price / SF$301.86
Days on Market155
Property Features for 3525 Dimond Avenue
General Information
- Standard status
- Active
- Size
- 22,361 SF
- Property subtype
- 5+ Units / Five or More Units
Building Details
- Year Built
- 1963
Listing agency
NAI Northern California
(510) 759-6844
Listed by
Samuel Hayes · License #01842440
(510) 759-6844
Source
Compass
Added: Feb 16 Updated: Jul 21 at 3:37AM Checked: Jul 21 at 3:37AM
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 NAI Northern California
Investment Insights
Based on property information with market context.
This 42-unit multifamily property offers a sizable value-add platform with 22,361 square feet of residential income space. Constructed in 1963, the building is currently operating with significant vacancy, and the in-place rents show notable variance, creating an opportunity to reposition rents and improve overall performance through interior upgrades and management.
The property is zoned RM-4. It presents an investor with the scale and density of an apartment building where lease-up and repositioning strategies can be implemented as units are turned and improved.
With 42 total units in place, the building is designed to support a higher-density residential use under its RM-4 entitlement.
The property is zoned RM-4. It presents an investor with the scale and density of an apartment building where lease-up and repositioning strategies can be implemented as units are turned and improved.
With 42 total units in place, the building is designed to support a higher-density residential use under its RM-4 entitlement.
Key Highlights
- 42‑unit multifamily property with 22,361 SF total building area
- Built in 1963, located in Oakland’s established residential corridor
- Currently has significant vacancy with in‑place rent variance, creating room to reset rents to market
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $898.9k | $40.20 |
| − Vacancy | −$40.5k | −$1.81 |
| EGI | $858.5k | $38.39 |
| − OpEx | −$386.3k | −$17.28 |
| NOI | $472.2k | $21.12 |
22,361 SF · lease $40.20/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$6.75M
$5.90M – $7.87M
NOI $472,154 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$7.32M
$6.41M – $8.54M
NOI $512,464 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 42-unit multifamily building on RM-4 zoning, built in 1963, with significant current vacancy and in-place rent variance.
Where is this apartment building located?
The property is located at 3525 Dimond Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: 42‑unit multifamily property with 22,361 SF total building area; Built in 1963, located in Oakland’s established residential corridor; Currently has significant vacancy with in‑place rent variance, creating room to reset rents to market
