Three-Story Apartment
For Sale
$2,398,000
8 Yosemite Avenue, Oakland, CA 94611
Multifamily property with a diversified unit mix and owner-operated laundry facilities.
Property Size7,134 SF
Price / SF$336.14
Days on Market14
Property Features for 8 Yosemite Avenue
General Information
Standard status
Active
Size
7,134 SF
Property subtype
Multifamily
Units
Unit Mix
8 x 1BR/1BA, 1 x 1BR/1.5BA, 2 x studio/1BA
Multifamily Units
11
Amenities
on-site laundry
Building Details
Building Size
7,134 SF
Year Built
1923
Buildings
1
Stories
3
Units
11
Listing Agency:
NAI Northern California
(510) 290-9647
Listed By:
James Kilpatrick · License #CalDRE #01277022
Source:
Nainorcal
Added: Aug 19
Changed: Aug 21
Last Checked: Aug 31 at 3:34PM
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 NAI Northern California
Investment Insights
Based on property information with market context.
This three-story apartment building, constructed in 1923, contains 11 units within 7,134 square feet. The configuration includes eight 1-bedroom/1-bathroom apartments, one 1-bedroom/1.5-bathroom apartment, and two studio/1-bathroom units. Laundry equipment is owned on site, providing an additional building amenity without a third-party equipment arrangement.
The property is located at 8 Yosemite Avenue in Oakland’s Piedmont Avenue neighborhood, one building from the area’s commercial corridor. Its unit mix centers on one-bedroom apartments while also including studio layouts and a larger one-bedroom configuration.
The property is located at 8 Yosemite Avenue in Oakland’s Piedmont Avenue neighborhood, one building from the area’s commercial corridor. Its unit mix centers on one-bedroom apartments while also including studio layouts and a larger one-bedroom configuration.
Key Highlights
- 11‑unit apartment building with 7,134 square feet
- Built in 1923 with three stories
- Eight 1‑bedroom/1‑bathroom units
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
$121,789
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
5.08%
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%
$2,435,780
$2.4M
Cap Rate 7%
$1,739,843
$1.7M
Cap Rate 9%
$1,353,211
$1.4M
Market Conditions
NOI Build-Up for 7,134 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
$231.1K $32.40/SF
− Vacancy
−$9.7K −$1.36/SF
EGI
$221.4K $31.04/SF
− OpEx
−$99.6K −$13.97/SF
NOI
$121.8K $17.07/SF
Area
ZIP 94611
Vacancy
4.20%
Lease Rate
$32.40 /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%
$2,435,780
Cap Rate 7%
$1,739,843
Cap Rate 9%
$1,353,211
Alternative Uses
Best Use
Apartment 5plus
$1.74M
$1.52M – $2.03M
NOI $121,789 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,367 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
6,448
Businesses Nearby
Explore this area
Business Placement
Demographics for 94611, CA
40,262
Population
19,014
Households
2.1
Avg Household Size
44
Median Age
78%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,515
Density / Sq Mi
$176,517
Median Household Income
$105,393
Median Earnings
$2,274
Median Rent
$1,485,000
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 - Multifamily property with a diversified unit mix and owner-operated laundry facilities.
Where is this apartment building located?
The property is located at 8 Yosemite Avenue Oakland, CA.
What is the asking price?
The asking price for this property is $2,398,000.
What are key features of this property?
This property features: 11‑unit apartment building with 7,134 square feet; Built in 1923 with three stories; Eight 1‑bedroom/1‑bathroom units
