Updated Duplex with New
For Sale
$799,000
Pending
622 Alice St., Oakland, CA 94607
MULTI_FAMILY - Oakland, CA
Property Size1,894 SF
Lot Size0.04 Acres
Days on Market130
Property Features for 622 Alice St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
10
Full bathrooms
10
Rooms
Bedroom 5, Bathroom 4, Bathroom 1, Bathroom 6, Bathroom 3, Bedroom 2, Bathroom 9, Bathroom 2, Bathroom 8, Bathroom 7, Bedroom 4, Bathroom 5, Bathroom 10, Bedroom 3, Bedroom 1
Window features
Double Pane Windows, Screens
Interior features
Updated Baths, Updated Kitchen
Exterior features
Balcony
Fencing
Fenced
Appliances
Dishwasher, Disposal
Subdivision
China Town
Lot features
Level
Standard status
Pending
APN
11813
Size
1,894 SF
Lot size
0.04 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Multi Units
Amenities
balcony
private backyard
laundry hook-ups
Building Details
Year built
1977
Number of units
2
Flooring type
Laminate
Building materials
Stucco
Listing Agency:
Alliance Bay Realty
(510) 742-6600
Listed By:
Sunitha Samala
(408) 819-4170
Added: Apr 3
Changed: Aug 2
Last Checked: Aug 10 at 4:06PM
MLS# 41129608
Copyright © 2026 Bay East. 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.
Fully permitted renovation brings modern comfort to this updated duplex, offering a live-in owner setup with rental upside or flexible multi-generational living. Each unit features updated kitchen(s) with appliances and updated bathroom(s) with stylish finishes, plus new flooring and updated interiors throughout.
The property includes brand new HVAC with split units for efficient year-around heating and cooling, along with electrical upgrades. Improvements also include a newer roof and water heater for added peace of mind. Laundry hook-ups are available for each unit.
Outdoor and parking amenities add practical day-to-day value: there is an enclosed 2-car garage, a balcony for the upper unit, and a private backyard for the lower unit. Built in 1977 and constructed with stucco, the duplex sits on a 0.0432-acre lot at 622 Alice St. in Oakland (94607), with fenced outdoor space and electric heating.
The property includes brand new HVAC with split units for efficient year-around heating and cooling, along with electrical upgrades. Improvements also include a newer roof and water heater for added peace of mind. Laundry hook-ups are available for each unit.
Outdoor and parking amenities add practical day-to-day value: there is an enclosed 2-car garage, a balcony for the upper unit, and a private backyard for the lower unit. Built in 1977 and constructed with stucco, the duplex sits on a 0.0432-acre lot at 622 Alice St. in Oakland (94607), with fenced outdoor space and electric heating.
Key Highlights
- Fully permitted renovation with updated kitchens and updated bathroom(s) in both units
- Brand new HVAC with split units for efficient year‑around heating and cooling
- Laundry hook‑ups available for each unit
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
$43,406
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
5.43%
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%
$868,120
$868.1K
Cap Rate 7%
$620,086
$620.1K
Cap Rate 9%
$482,289
$482.3K
Market Conditions
NOI Build-Up for 1,894 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
$64.8K $34.20/SF
− Vacancy
−$2.8K −$1.46/SF
EGI
$62.0K $32.74/SF
− OpEx
−$18.6K −$9.82/SF
NOI
$43.4K $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 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%
$868,120
Cap Rate 7%
$620,086
Cap Rate 9%
$482,289
Alternative Uses
Best Use
Multifamily LT 5
$620.1K
$542.6K – $723.4K
NOI $43,406 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$571.3K
$499.9K – $666.5K
NOI $39,992 @ 7.0% cap · market cap 5.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,726
Businesses Nearby
Explore this area
Business Placement
Demographics for 94607, CA
31,067
Population
14,362
Households
2.2
Avg Household Size
38
Median Age
47%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
5,266
Density / Sq Mi
$87,937
Median Household Income
$67,107
Median Earnings
$1,875
Median Rent
$744,600
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 - Turnkey, fully renovated duplex with split-unit HVAC, updated kitchens and baths, and enclosed 2-car garage parking.
Where is this duplex located?
The property is located at 622 Alice St. Oakland, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Fully permitted renovation with updated kitchens and updated bathroom(s) in both units; Brand new HVAC with split units for efficient year‑around heating and cooling; Laundry hook‑ups available for each unit
