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    Updated Duplex Near Downtown Oakland Title is generated by Realmo AI

    622 Alice St., Oakland, CA 94607

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    Pending
    $799,000

    MULTI_FAMILY - Oakland, CA

    Property size:
    1,894 SF
    Lot size:
    0.04 Acres
    Added:
    Apr 3, 2026
    Days on Market:
    37
    Last Refresh:
    May 9 at 2:06 am

    Property Features for 622 Alice St.

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    10
    Rooms
    Bathroom 8, Bathroom 10, Bathroom 1, Bathroom 6, Bathroom 7, Bathroom 5, Bedroom 4, Bathroom 9, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 2, Bathroom 4
    Window features
    Double Pane Windows, Screens
    Interior features
    Updated Baths, Updated Kitchen
    Exterior features
    Balcony
    Fencing
    Fenced
    Appliances
    Dishwasher, Disposal
    Standard status
    Pending
    APN
    11813
    Size
    1,894 SF
    Lot size
    0.04 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Multi Units

    Building Details

    Year built
    1977
    Number of units
    2
    Flooring type
    Laminate
    Building materials
    Stucco

    We can help!

    Listing Contact
    Sunitha Samala

    Listing agent Sunitha Samala

    Listing office Alliance Bay Realty 37600 Central Court STE 264, Newark, CA

    Listing date Apr 3, 2026

    MLS# 41129608 Listing URL

    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.

    HighLights

    • Duplex: Live in one unit and rent the other for income potential or multi‑generational living.
    • Fully Permitted Renovation: Modern comfort and timeless charm with updated kitchens and bathrooms.
    • New HVAC: Efficient split units for year‑round heating and cooling.
    • Enclosed 2‑Car Garage: Rare and convenient parking.
    • Outdoor Spaces: Upper unit balcony and lower unit private backyard for relaxation and entertainment.
    • Prime Location: Near downtown conveniences, transportation, dining, and cultural attractions.

    Overview

    This updated duplex presents opportunities for owner-occupancy with rental income, multi-generational living, or maximizing rental potential. The property features bright interiors and thoughtful upgrades throughout. A fully permitted renovation has brought modern comfort and timeless charm to this duplex. Both units include new kitchens with appliances, bathrooms with stylish finishes, updated cabinetry, and modern fixtures, as well as new flooring. A new HVAC system with split units provides efficient heating and cooling. Electrical upgrades, a newer roof, and a newer water heater have been installed. Laundry hook-ups are available for each unit. A rare enclosed 2-car garage offers convenient parking. The upper unit features a balcony for outdoor entertainment or relaxation. The lower unit offers a private backyard for outdoor entertainment or relaxing. The property is located near downtown conveniences, transportation, dining, and cultural attractions. The lot size is 0.0432 acres and the property size is 1894 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.269357
    Latitude
    37.797294

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    FAQs

    What type of property is this?
    Duplex - Renovated duplex with modern amenities, convenient location, and income potential.
    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: Duplex: Live in one unit and rent the other for income potential or multi‑generational living.; **Fully Permitted Renovation: Modern comfort and timeless charm with updated kitchens and bathrooms.**; New HVAC: Efficient split units for year‑round heating and cooling.
    (408) 819-4170
    We can help!
    Listing Contact
    Sunitha Samala
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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