Building Details

Year Built 1916

Listing Agency: Kite Hill Real Estate Show Phone

Listed By: Jatin Mehta · License #02045713 Show Phone

Source: Exitrealty

Added: Feb 21 Changed: Sep 2 Last Checked: Sep 15 at 4:55AM

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Investment Insights

Based on property information with market context.

Built in 1916, this 3,550-square-foot quadplex contains four one-bedroom, one-bath residences. One unit is vacant and has undergone a full renovation with upgraded finishes and new appliances, while the other three units are occupied. The property offers a combination of immediate residential usability and existing tenant occupancy within a compact multifamily format.

Utilities are separately metered for each residence. Exterior improvements include landscaping with palm trees and artificial grass, creating a defined arrival area. The four-unit configuration and consistent one-bedroom, one-bath layout provide a straightforward operating profile for an owner-occupant or multifamily owner.

Key Highlights

• 3,550‑square‑foot quadplex built in 1916
• Four 1‑bedroom / 1‑bath units
• One vacant unit fully renovated with upgraded finishes and new appliances

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$81,358

Cap Rate

5.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,627,160 $1.6M

Cap Rate 7%

$1,162,257 $1.2M

Cap Rate 9%

$903,978 $904.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,550 SF

Gross rent

$121.4K $34.20/SF

− Vacancy

−$5.2K −$1.46/SF

EGI

$116.2K $32.74/SF

− OpEx

−$34.9K −$9.82/SF

NOI

$81.4K $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 Rate 5%

$1,627,160

Cap Rate 7%

$1,162,257

Cap Rate 9%

$903,978

Alternative Uses

Best Use

Multifamily LT 5

$1.16M

$1.02M – $1.36M (±1% cap)

NOI $81,358 @ 7.0% cap · market cap 5.71%

Second Best

Apartment 5plus

$1.07M

$937.0K – $1.25M (±1% cap)

NOI $74,958 @ 7.0% cap · market cap 5.26%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Carpet & Flooring Store Computer & Electronic Repair Home Appliance Store HVAC Service Storage Facility Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

6,021

Businesses Nearby

Explore this area Business Placement

Demographics for 94609, CA

23,578

Population

11,915

Households

2

Avg Household Size

36

Median Age

62%

College-Educated

95%

High-School Grad

1.7 sq mi

ZIP Area

13,869

Density / Sq Mi

$106,698

Median Household Income

$69,221

Median Earnings

$2,116

Median Rent

$1,147,900

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - A four-residence property with one updated vacant unit, separate utility metering, and landscaped outdoor presentation.

Where is this quadplex located?

The property is located at 4045 Manila Ave Oakland, CA.

What is the asking price?

The asking price for this property is $1,425,000.

What are key features of this property?

This property features: 3,550‑square‑foot quadplex built in 1916; Four 1‑bedroom / 1‑bath units; One vacant unit fully renovated with upgraded finishes and new appliances