Oakland Multifamily Property in Adams
For Sale
Contact for pricing
Pending
369 Palm Ave, Oakland, CA 94610
Well-maintained 24-unit multifamily property in a prime Oakland location.
Property Size17,391 SF
Days on Market229
Property Features for 369 Palm Ave
General Information
Standard status
Pending
Size
17,391 SF
Class
B
Property subtype
Multifamily
Occupancy
96%
Investment Type
Value Add
Building Details
Year Built
1965
Buildings
1
Stories
3
Units
24
Listing Agency:
Marcus & Millichap - San Francisco
Listed By:
Jon Holmquist · License #01257479
(415) 625-2117
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 8 at 6:36AM
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 Marcus & Millichap - San Francisco
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Investment Insights
Based on property information with market context.
Located at 369 Palm Avenue in Oakland, California, this multifamily property features twenty-four units in the Adams Point neighborhood. The property has been meticulously maintained by the current owner for several decades, with many interior and exterior capital improvements. Constructed with a wood frame and stucco siding, the building includes enclosed ground floor parking with completed earthquake retrofitting, on-site laundry facilities, and a security entrance. The unit mix consists of twelve one-bed/one-bath units, nine two-bed/one-bath units, and three two-bed/two-bath units. Select units feature large private balconies, and SB-721 inspection is complete. The majority of units have been renovated upon turnover. The property is separately metered for gas and electricity. The location offers a Walk-Score of 91, providing great walkability and easy access to Whole Foods, Grand Lake, BART, and the shoreline of Lake Merritt. Its location allows easy access to Downtown Oakland and San Francisco’s primary employment centers. The property is 17391 square feet.
Key Highlights
- Prime Location: Adams Point neighborhood, Walk Score of 91, near Whole Foods, Grand Lake, Lake Merritt, and public transportation, offering easy access to Downtown Oakland and San Francisco.
- Superior Unit Mix: Consists of twelve 1‑bed/1‑bath, nine 2‑bed/1‑bath, and three 2‑bed/2‑bath units, with select units having large private balconies.
- Meticulously Maintained with Capital Improvements: The property has been owned and meticulously maintained for decades with many interior and exterior capital improvements, including earthquake retrofit completion and SB‑721 inspection completion.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$367,212
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,344,240
$7.3M
Cap Rate 7%
$5,245,886
$5.2M
Cap Rate 9%
$4,080,133
$4.1M
Market Conditions
NOI Build-Up for 17,391 SF
Gross rent
$699.1K $40.20/SF
− Vacancy
−$31.5K −$1.81/SF
EGI
$667.7K $38.39/SF
− OpEx
−$300.4K −$17.28/SF
NOI
$367.2K $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 Rate 5%
$7,344,240
Cap Rate 7%
$5,245,886
Cap Rate 9%
$4,080,133
Alternative Uses
Best Use
Apartment 5plus
$5.25M
$4.59M – $6.12M
NOI $367,212 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$5.69M
$4.98M – $6.64M
NOI $398,563 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 24-unit multifamily property in a prime Oakland location.
Where is this apartment building located?
The property is located at 369 Palm Ave Oakland, CA.
What is the asking price?
The asking price for this property is $5,140,000.
What are key features of this property?
This property features: Prime Location: Adams Point neighborhood, Walk Score of 91, near Whole Foods, Grand Lake, Lake Merritt, and public transportation, offering easy access to Downtown Oakland and San Francisco.; Superior Unit Mix: Consists of twelve 1‑bed/1‑bath, nine 2‑bed/1‑bath, and three 2‑bed/2‑bath units, with select units having large private balconies.; Meticulously Maintained with Capital Improvements: The property has been owned and meticulously maintained for decades with many interior and exterior capital improvements, including earthquake retrofit completion and SB‑721 inspection completion.
