Remodeled Four-Unit
For Sale
$1,295,000
368 Adams St, Oakland, CA 94610
Updated interiors feature refreshed kitchens, bathrooms, flooring, tile, paint, electrical, and plumbing.
Property Size3,275 SF
Lot Size0.14 Acres
Price / SF$395.42
Days on Market18
Property Features for 368 Adams St
General Information
Standard status
Active
Size
3,275 SF
Net Rentable
3,275 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
3 x 1BR/1BA, 1 x studio
Multifamily Units
4
Amenities
backyard
off-street parking
Building Details
Year Built
1925
Listing Agency:
The Pinza Group, Inc
(510) 822-1331
Listed By:
David Howarth · License #01360348
Source:
Bayarearealestatesearch
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 25 at 3:42AM
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 The Pinza Group, Inc
Investment Insights
Based on property information with market context.
This four-unit apartment property at 368 Adams St includes three 1bd/1bth residences and one studio across approximately 3,275 square feet of rental space. Originally constructed in 1925, the building has undergone recent interior improvements, including new kitchens and bathrooms, refinished wood flooring, custom tile, new paint, and upgraded electrical and plumbing. The property is currently 100% leased and includes a large backyard with room for off-street parking.
The asset is situated in Adams Point near Lake Merritt, Grand Lake shopping, restaurants, retail, and outdoor activities. Downtown Oakland is also readily accessible. The property occupies a 6,250 square foot lot and offers a compact unit mix suited to apartment operations in an established Oakland submarket.
The asset is situated in Adams Point near Lake Merritt, Grand Lake shopping, restaurants, retail, and outdoor activities. Downtown Oakland is also readily accessible. The property occupies a 6,250 square foot lot and offers a compact unit mix suited to apartment operations in an established Oakland submarket.
Key Highlights
- Four‑unit configuration with three 1bd/1bth units and one studio
- Approximately 3,275 square feet of rental space
- 100% leased to current tenants
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
$75,056
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
5.80%
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%
$1,501,120
$1.5M
Cap Rate 7%
$1,072,229
$1.1M
Cap Rate 9%
$833,956
$834.0K
Market Conditions
NOI Build-Up for 3,275 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
$112.0K $34.20/SF
− Vacancy
−$4.8K −$1.46/SF
EGI
$107.2K $32.74/SF
− OpEx
−$32.2K −$9.82/SF
NOI
$75.1K $22.92/SF
Area
Oakland, CA
Vacancy
4.27%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,501,120
Cap Rate 7%
$1,072,229
Cap Rate 9%
$833,956
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$938.2K – $1.25M
NOI $75,056 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$987.9K
$864.4K – $1.15M
NOI $69,152 @ 7.0% cap · market cap 5.34%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,506
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?
Quadplex - Updated interiors feature refreshed kitchens, bathrooms, flooring, tile, paint, electrical, and plumbing.
Where is this quadplex located?
The property is located at 368 Adams St 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: Four‑unit configuration with three 1bd/1bth units and one studio; Approximately 3,275 square feet of rental space; 100% leased to current tenants
