5-Unit Apartment
New
For Sale
$1,275,000
508 Valle Vista, Oakland, CA 94610
Period character, updated interiors, and rear garden space support a distinctive residential setting.
Property Size3,456 SF
Price / SF$368.92
Days on Market4
Property Features for 508 Valle Vista
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Multi Family
Units
Unit Mix
1 x studio, 3 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
5
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Lapham Company, Inc.
(415) 640-6411
Listed By:
Matt Treadway · License #01706866
(415) 640-6411
Source:
Exitrealty
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 2:12PM
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 Lapham Company, Inc.
Investment Insights
Based on property information with market context.
Located at 508 Valle Vista in Oakland’s Grand Lake neighborhood, this 5-unit apartment building contains 3,456 square feet and was built in 1915. The configuration includes one studio, three one-bedroom, one-bath units, and one two-bedroom, one-bath unit.
Interiors have been remodeled as residences turn over, while period details remain part of the property’s character. The building has been maintained by its current ownership and includes a rear garden setting with outdoor space for tenants. The combination of varied unit sizes, retained architectural character, and shared exterior space defines the property’s residential offering.
Interiors have been remodeled as residences turn over, while period details remain part of the property’s character. The building has been maintained by its current ownership and includes a rear garden setting with outdoor space for tenants. The combination of varied unit sizes, retained architectural character, and shared exterior space defines the property’s residential offering.
Key Highlights
- 5‑unit apartment building with 3,456 square feet
- Unit mix includes one studio, three 1‑bedroom/1‑bath units, and one 2‑bedroom/1‑bath unit
- Built in 1915 with period details retained
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
$72,974
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
5.72%
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%
$1,459,480
$1.5M
Cap Rate 7%
$1,042,486
$1.0M
Cap Rate 9%
$810,822
$810.8K
Market Conditions
NOI Build-Up for 3,456 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
$138.9K $40.20/SF
− Vacancy
−$6.3K −$1.81/SF
EGI
$132.7K $38.39/SF
− OpEx
−$59.7K −$17.28/SF
NOI
$73.0K $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 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%
$1,459,480
Cap Rate 7%
$1,042,486
Cap Rate 9%
$810,822
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$912.2K – $1.22M
NOI $72,974 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.13M
$990.1K – $1.32M
NOI $79,204 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,519
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?
Apartment building - Period character, updated interiors, and rear garden space support a distinctive residential setting.
Where is this apartment building located?
The property is located at 508 Valle Vista Oakland, CA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 5‑unit apartment building with 3,456 square feet; Unit mix includes one studio, three 1‑bedroom/1‑bath units, and one 2‑bedroom/1‑bath unit; Built in 1915 with period details retained
