Historic 8-Unit Multifamily
429 Vernon St Oakland, CA 94610
429 Vernon St, Oakland, CA, 94610
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For Sale
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An 8-unit apartment building built in 1905 with a mix of 1-bedroom and studio-style layouts.
Property Size5,008 SF
Price / SF$249.60
Days on Market51
Property Features for 429 Vernon St
General Information
- Standard status
- Active
- Size
- 5,008 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1905
Listing agency
Walker & Dunlop
Listed by
Mike Colhoun · License #CA #01464496
Source
Crexi
Added: Jun 3 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 8:31AM
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 Walker & Dunlop
Investment Insights
Based on property information with market context.
429 Vernon Street is an eight-unit multifamily property built in 1905. The unit mix consists of seven 1-bedroom units and one studio-style unit, creating a straightforward residential configuration within a classic, older building.
The property is located in Oakland, California, in the Adams Point neighborhood. This central setting offers convenient access to Oakland’s surrounding residential and commercial fabric, supporting a tenant base seeking nearby day-to-day amenities.
For buyers and investors, the combination of a majority of 1-bedroom units and a single studio unit can support a consistent rental lineup. The property’s small, manageable size may appeal to operators looking for a compact multifamily asset with an established unit mix and a clear, residential use profile.
The property is located in Oakland, California, in the Adams Point neighborhood. This central setting offers convenient access to Oakland’s surrounding residential and commercial fabric, supporting a tenant base seeking nearby day-to-day amenities.
For buyers and investors, the combination of a majority of 1-bedroom units and a single studio unit can support a consistent rental lineup. The property’s small, manageable size may appeal to operators looking for a compact multifamily asset with an established unit mix and a clear, residential use profile.
Key Highlights
- 8‑unit multifamily apartment building built in 1905
- Unit mix includes 7 one‑bedroom (1x1) units and 1 studio‑style unit (0x1)
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 | $201.3k | $40.20 |
| − Vacancy | −$9.1k | −$1.81 |
| EGI | $192.3k | $38.39 |
| − OpEx | −$86.5k | −$17.28 |
| NOI | $105.7k | $21.12 |
5,008 SF · lease $40.20/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.76M
NOI $105,744 @ 7.0% cap · market cap 8.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.64M
$1.43M – $1.91M
NOI $114,772 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - An 8-unit apartment building built in 1905 with a mix of 1-bedroom and studio-style layouts.
Where is this apartment building located?
The property is located at 429 Vernon St Oakland, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8‑unit multifamily apartment building built in 1905; Unit mix includes 7 one‑bedroom (1x1) units and 1 studio‑style unit (0x1)
