Six-Unit Apartment
For Sale
$1,095,000
6625 Bancroft Ave, Oakland, CA 94605
Five-thousand-square-foot building with six individually metered two-bedroom apartments for more controlled utility expenses.
Property Size5,001 SF
Price / SF$218.96
Days on Market51
Property Features for 6625 Bancroft Ave
General Information
Standard status
Active
Size
5,001 SF
Property subtype
Investment
Additional Details
Multifamily Units
6
Building Details
Year Built
1946
Units
6
Listing Agency:
OAK TREE PROPERTY GROUP
(510) 255-2248
Listed By:
Stephen Pagones · License #DRE #01760998
(510) 255-2248
Source:
Elliman
Added: Jun 20
Changed: Aug 8
Last Checked: Aug 8 at 12:58PM
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 OAK TREE PROPERTY GROUP
Investment Insights
Based on property information with market context.
This well-maintained multifamily property totals 5,001 square feet and includes six residential units. The building was originally constructed in 1946 and is configured with six two-bedroom, one-bathroom apartments. Utilities are set up so that each unit is individually metered for both PG&E and water service, which helps keep utility billing tied to individual usage rather than being bundled at the building level.
The property is located at 6625 Bancroft Ave in Oakland within the Bancroft Business District. According to available walkability and transit metrics, the area scores very walkable with a walkScore of 82, bikeable with a bikeScore of 58, and good transit access with a transitScore of 54.
From a tenant perspective, the unit mix provides practical two-bedroom layouts and a straightforward one-bath configuration across all six homes. For owners and buyers, the combination of consistent apartment configuration and individually metered utilities is a practical fit for anyone looking for a stabilized, manageable multifamily asset with clear, unit-level utility responsibility.
The property is located at 6625 Bancroft Ave in Oakland within the Bancroft Business District. According to available walkability and transit metrics, the area scores very walkable with a walkScore of 82, bikeable with a bikeScore of 58, and good transit access with a transitScore of 54.
From a tenant perspective, the unit mix provides practical two-bedroom layouts and a straightforward one-bath configuration across all six homes. For owners and buyers, the combination of consistent apartment configuration and individually metered utilities is a practical fit for anyone looking for a stabilized, manageable multifamily asset with clear, unit-level utility responsibility.
Key Highlights
- 5,001‑square‑foot multifamily property built in 1946 with 6 residential units
- Unit mix: six 2‑bedroom, 1‑bath apartments
- Each unit is individually metered for PG&E and water, helping reduce owner‑paid utility expenses
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
$90,742
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
8.29%
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%
$1,814,840
$1.8M
Cap Rate 7%
$1,296,314
$1.3M
Cap Rate 9%
$1,008,244
$1.0M
Market Conditions
NOI Build-Up for 5,001 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
$174.0K $34.80/SF
− Vacancy
−$9.0K −$1.81/SF
EGI
$165.0K $32.99/SF
− OpEx
−$74.2K −$14.85/SF
NOI
$90.7K $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%
$1,814,840
Cap Rate 7%
$1,296,314
Cap Rate 9%
$1,008,244
Alternative Uses
Best Use
Apartment 5plus
$1.30M
$1.13M – $1.51M
NOI $90,742 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.45M
$1.27M – $1.69M
NOI $101,230 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
969
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
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 - Five-thousand-square-foot building with six individually metered two-bedroom apartments for more controlled utility expenses.
Where is this apartment building located?
The property is located at 6625 Bancroft Ave Oakland, CA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: 5,001‑square‑foot multifamily property built in 1946 with 6 residential units; Unit mix: six 2‑bedroom, 1‑bath apartments; Each unit is individually metered for PG&E and water, helping reduce owner‑paid utility expenses
