Vacant Two-Unit
New
For Sale
$495,000
4239 Howe St, Oakland, CA 94611
MULTI_FAMILY - Oakland, CA
Property Size1,524 SF
Lot Size0.10 Acres
Price / SF$324.80
Days on Market2
Property Features for 4239 Howe St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-2
Bedrooms
2
Rooms
Bedroom 2, Bedroom 1
Parking
2
Interior features
Storage Area(s)
Exterior features
Back Yard, Front Yard, Yard Space
Fencing
Fenced
Appliances
Gas Water Heater
Subdivision
PIEDMONT AVENUE
Lot features
Back Yard, Front Yard, Paved
Standard status
Active
APN
13111410
Size
1,524 SF
Lot size
0.10 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
laundry area
brick patio
storage shed
sun house
Building Details
Year built
1905
Flooring type
Hardwood, Tile
Building materials
Frame, Wood Siding
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(925) 934-2900
Listed By:
Joey Wang · License #01890931
(510) 592-5554
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 3:06AM
MLS# 41144628
Copyright © 2026 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant duplex at 4239 Howe St includes two one-bedroom units with separate gas and electric meters. The 1,524-square-foot property was built in 1905, with the 4239 unit refreshed in 2026. Interior features include hardwood and tile flooring, wall furnaces, storage space, and public water and sewer service. Each unit is delivered without a lease, allowing a new owner to establish tenancy or occupy one residence. The property also includes two detached garages and laundry space with washer and dryer hookups ready for installation.
The 0.1004-acre parcel has front and rear yard areas, fencing, a brick patio, storage shed, and a sun house suitable for studio or office use. It is located one block from Piedmont Avenue, next to Kaiser Oakland, and within walking distance of MacArthur BART. The property is zoned RM-2, and a 2013 sewer lateral replacement provides EBMUD compliance through 2033.
The 0.1004-acre parcel has front and rear yard areas, fencing, a brick patio, storage shed, and a sun house suitable for studio or office use. It is located one block from Piedmont Avenue, next to Kaiser Oakland, and within walking distance of MacArthur BART. The property is zoned RM-2, and a 2013 sewer lateral replacement provides EBMUD compliance through 2033.
Key Highlights
- Two one‑bedroom units totaling 1,524 SF on a 0.1004‑acre parcel
- Vacant delivery with separate gas and electric meters for each unit
- Two detached garages plus laundry hookups ready for washer and dryer installation
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
$28,119
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
5.68%
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%
$562,380
$562.4K
Cap Rate 7%
$401,700
$401.7K
Cap Rate 9%
$312,433
$312.4K
Market Conditions
NOI Build-Up for 1,524 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
$42.1K $27.60/SF
− Vacancy
−$1.9K −$1.24/SF
EGI
$40.2K $26.36/SF
− OpEx
−$12.1K −$7.91/SF
NOI
$28.1K $18.45/SF
Area
ZIP 94611
Vacancy
4.50%
Lease Rate
$27.60 /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%
$562,380
Cap Rate 7%
$401,700
Cap Rate 9%
$312,433
Alternative Uses
Best Use
Multifamily LT 5
$401.7K
$351.5K – $468.7K
NOI $28,119 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$371.7K
$325.2K – $433.6K
NOI $26,017 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$642.0K
$561.8K – $749.0K
NOI $44,940 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,617
Businesses Nearby
Explore this area
Business Placement
Demographics for 94611, CA
40,262
Population
19,014
Households
2.1
Avg Household Size
44
Median Age
78%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,515
Density / Sq Mi
$176,517
Median Household Income
$105,393
Median Earnings
$2,274
Median Rent
$1,485,000
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?
Duplex - Two separately metered residences include detached garages, utility-ready laundry space, and an expansive fenced rear yard.
Where is this duplex located?
The property is located at 4239 Howe St Oakland, CA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two one‑bedroom units totaling 1,524 SF on a 0.1004‑acre parcel; Vacant delivery with separate gas and electric meters for each unit; Two detached garages plus laundry hookups ready for washer and dryer installation
