Duplex with Partially Finished
New
For Sale
$599,000
636 Alice St, Oakland, CA 94607
Two three-bedroom residences provide flexibility for an owner-user or rental strategy.
Property Size2,264 SF
Days on Market3
Property Features for 636 Alice St
General Information
Standard status
Active
Size
2,264 SF
Property subtype
Duplex
Occupancy
50%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Building Size
2,264 SF
Year Built
1896
Listing Agency:
Property Investment Srvcs
Listed By:
Evelyn S. Courtland
(510) 915-9111
Source:
Coastandcore
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 3 at 2:24AM
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 Property Investment Srvcs
Investment Insights
Based on property information with market context.
Built in 1896, this duplex contains two three-bedroom, one-bath residences averaging 1,000 square feet each. The lower home is vacant, while the upper residence is occupied by a tenant. A partially finished basement adds usable space and is identified as a possible location for an ADU addition, subject to applicable review and approvals.
The property is in Oakland’s Chinatown neighborhood, one block from Lake Merritt BART and near the 880 Freeway. Shopping and dining are also located nearby, providing convenient access to transit and neighborhood amenities.
The property is in Oakland’s Chinatown neighborhood, one block from Lake Merritt BART and near the 880 Freeway. Shopping and dining are also located nearby, providing convenient access to transit and neighborhood amenities.
Key Highlights
- Two three‑bedroom, one‑bath units averaging 1,000 square feet each
- Lower unit is vacant; upper unit is tenant occupied
- Partially finished basement with possible ADU addition
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
$51,886
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
8.66%
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%
$1,037,720
$1.0M
Cap Rate 7%
$741,229
$741.2K
Cap Rate 9%
$576,511
$576.5K
Market Conditions
NOI Build-Up for 2,264 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
$77.4K $34.20/SF
− Vacancy
−$3.3K −$1.46/SF
EGI
$74.1K $32.74/SF
− OpEx
−$22.2K −$9.82/SF
NOI
$51.9K $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%
$1,037,720
Cap Rate 7%
$741,229
Cap Rate 9%
$576,511
Alternative Uses
Best Use
Multifamily LT 5
$741.2K
$648.6K – $864.8K
NOI $51,886 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$682.9K
$597.6K – $796.7K
NOI $47,804 @ 7.0% cap · market cap 7.98%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Yes
Highway access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences provide flexibility for an owner-user or rental strategy.
Where is this duplex located?
The property is located at 636 Alice St Oakland, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two three‑bedroom, one‑bath units averaging 1,000 square feet each; Lower unit is vacant; upper unit is tenant occupied; Partially finished basement with possible ADU addition
