Five-Unit Apartment
3601 West St Oakland, CA 94608
3601 West St, Oakland, CA, 94608
$950,000
For Sale
$950,000
Fully occupied five-unit apartment building with four units under Section 8 HAP contracts and assigned parking included in rents.
Property Size3,603 SF
Price / SF$263.67
Days on Market62
Property Features for 3601 West St
General Information
- Standard status
- Active
- Size
- 3,603 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1965
Listing agency
KELLER WILLIAMS REALTY
(925) 934-2900
Listed by
JOEY WANG · License #01890931
Source
Corcoran
Added: May 22 Updated: Jul 22 at 8:12AM Checked: Jul 22 at 8:12AM
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 KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
3601 West St is a fully occupied five-unit apartment building at a signalized corner. The unit mix includes one 1BR and four 2BR homes. The property provides five assigned parking spaces, including two garages and three covered carports, all included in rents. Move-in dates span 2004 to 2021, and recent capital investment of $25,000+ was made across 2024–2025.
Four of the five units are backed by Section 8 HAP contracts. The building is located three blocks from MacArthur BART, offering convenient transit access.
With 3,603 total square feet, the current income and in-place structure support a stabilized multifamily profile, as presented in the listing materials.
Four of the five units are backed by Section 8 HAP contracts. The building is located three blocks from MacArthur BART, offering convenient transit access.
With 3,603 total square feet, the current income and in-place structure support a stabilized multifamily profile, as presented in the listing materials.
Key Highlights
- Fully occupied 5‑unit apartment building with 1BR and four 2BR units totaling 3,603 SF
- Four units backed by Section 8 HAP contracts
- Generates $124,296 in current annual income at a 7.8% in‑place cap rate
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 | $144.8k | $40.20 |
| − Vacancy | −$6.5k | −$1.81 |
| EGI | $138.3k | $38.39 |
| − OpEx | −$62.2k | −$17.28 |
| NOI | $76.1k | $21.12 |
3,603 SF · lease $40.20/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$951.0K – $1.27M
NOI $76,078 @ 7.0% cap · market cap 8.01%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.18M
$1.03M – $1.38M
NOI $82,573 @ 7.0% cap · market cap 8.69%
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 - Fully occupied five-unit apartment building with four units under Section 8 HAP contracts and assigned parking included in rents.
Where is this apartment building located?
The property is located at 3601 West St Oakland, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Fully occupied 5‑unit apartment building with 1BR and four 2BR units totaling 3,603 SF; Four units backed by Section 8 HAP contracts; Generates $124,296 in current annual income at a 7.8% in‑place cap rate
