12-Unit Apartment
New
For Sale
$1,645,000
6120 Foothill Blvd, Oakland, CA 94605
The unit mix includes one- and two-bedroom apartments in an Oakland multifamily property.
Property Size5,142 SF
Days on Market2
Property Features for 6120 Foothill Blvd
General Information
Standard status
Active
Size
5,142 SF
Property subtype
Multifamily
Occupancy
97%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
11 x 1BR, 1 x 2BR
Multifamily Units
12
Additional Details
Cap Rate
8.23%
Amenities
In-Place Cap Rate of 8.15%
Pro-Forma Cap Rate of 10.89%
Diverse Unit Mix of 1 Bedroom and 2 Bedroom Units
Building Details
Building Size
5,142 SF
Buildings
1
Units
12
Listing Agency:
Marcus & Millichap
Listed By:
Fred Rubio III · License #License(s): CA: 01984041
(650) 391-1734
Source:
Marcusmillichap
Added: Sep 26
Last Checked: Sep 26 at 2:47PM
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
Investment Insights
Based on property information with market context.
The 12-unit apartment property at 6120 Foothill Boulevard in Oakland contains eleven one-bedroom apartments and one two-bedroom apartment. Its in-place cap rate is 8.23%. The mix provides two apartment layouts within a single building.
Foothill Boulevard connects the property with International Boulevard, High Street, and I-580. Nearby bus service, neighborhood retail, grocery options, and local businesses serve the surrounding area. The listing also identifies commuter connections to Downtown Oakland, San Leandro, and employment centers across the East Bay.
Foothill Boulevard connects the property with International Boulevard, High Street, and I-580. Nearby bus service, neighborhood retail, grocery options, and local businesses serve the surrounding area. The listing also identifies commuter connections to Downtown Oakland, San Leandro, and employment centers across the East Bay.
Key Highlights
- 12 apartments: eleven one‑bedroom units and one two‑bedroom unit
- In‑place cap rate of 8.23%
- Foothill Boulevard location with connections to International Blvd, High Street, and I‑580
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
$93,300
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
5.67%
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%
$1,866,000
$1.9M
Cap Rate 7%
$1,332,857
$1.3M
Cap Rate 9%
$1,036,667
$1.0M
Market Conditions
NOI Build-Up for 5,142 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
$178.9K $34.80/SF
− Vacancy
−$9.3K −$1.81/SF
EGI
$169.6K $32.99/SF
− OpEx
−$76.3K −$14.85/SF
NOI
$93.3K $18.14/SF
Area
ZIP 94605
Vacancy
5.20%
Lease Rate
$34.80 /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%
$1,866,000
Cap Rate 7%
$1,332,857
Cap Rate 9%
$1,036,667
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.17M – $1.56M
NOI $93,300 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.49M
$1.30M – $1.73M
NOI $104,084 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Explore this area
Business Placement
Demographics for 94605, CA
44,294
Population
17,686
Households
2.5
Avg Household Size
39
Median Age
43%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
5,033
Density / Sq Mi
$101,043
Median Household Income
$62,590
Median Earnings
$1,867
Median Rent
$840,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes one- and two-bedroom apartments in an Oakland multifamily property.
Where is this apartment building located?
The property is located at 6120 Foothill Blvd Oakland, CA.
What is the asking price?
The asking price for this property is $1,645,000.
What are key features of this property?
This property features: 12 apartments: eleven one‑bedroom units and one two‑bedroom unit; In‑place cap rate of 8.23%; Foothill Boulevard location with connections to International Blvd, High Street, and I‑580
