Four-Unit Apartment
For Sale
$1,250,000
873 Erie ST, Oakland, CA 94610
Updated systems, individual garages, private laundry, and a basement workshop support flexible residential income use.
Property Size3,962 SF
Price / SF$315.50
Days on Market54
Property Features for 873 Erie ST
General Information
Standard status
Active
Size
3,962 SF
Total Parking Spaces
4
Property subtype
Multi Family
Site & Location
Neighborhood
Lakeshore
Additional Details
Multifamily Units
4
Amenities
in-unit laundry
back yard patio
workshop/storage in basement
Building Details
Year Built
1924
Buildings
1
Listing Agency:
The GRUBB Company
(510) 339-0400
Listed By:
Ed Kuo · License #01034071
(510) 919-0707
Source:
Exitrealty
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 30 at 12:18PM
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 The GRUBB Company
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Investment Insights
Based on property information with market context.
Built in 1924, this four-unit apartment property combines traditional character with substantial system improvements. The building includes craftsman-style built-ins, hardwood flooring, detailed wood trim, in-unit laundry, and a garage with remote access for each residence. Major updates include a newer roof, upgraded electrical infrastructure, copper plumbing improvements, and earthquake retrofitting.
One residence is vacant and has a remodeled open kitchen with a breakfast bar, newer appliances, and granite countertops, creating an option for an owner occupant or a future rental. Exterior amenities include a backyard patio, while the basement provides additional workshop and storage space. The property is located two blocks from the Lakeshore Avenue Shopping District in Oakland’s Lakeshore neighborhood.
One residence is vacant and has a remodeled open kitchen with a breakfast bar, newer appliances, and granite countertops, creating an option for an owner occupant or a future rental. Exterior amenities include a backyard patio, while the basement provides additional workshop and storage space. The property is located two blocks from the Lakeshore Avenue Shopping District in Oakland’s Lakeshore neighborhood.
Key Highlights
- Four residential units in a 3,962‑square‑foot apartment building
- Constructed in 1924 with extensive earthquake retrofit work
- Newer roof plus upgraded electrical and copper plumbing systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,800
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,816,000
$1.8M
Cap Rate 7%
$1,297,143
$1.3M
Cap Rate 9%
$1,008,889
$1.0M
Market Conditions
NOI Build-Up for 3,962 SF
Gross rent
$135.5K $34.20/SF
− Vacancy
−$5.8K −$1.46/SF
EGI
$129.7K $32.74/SF
− OpEx
−$38.9K −$9.82/SF
NOI
$90.8K $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 Rate 5%
$1,816,000
Cap Rate 7%
$1,297,143
Cap Rate 9%
$1,008,889
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.51M
NOI $90,800 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.39M
NOI $83,658 @ 7.0% cap · market cap 6.69%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,149
Businesses Nearby
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Business Placement
Demographics for 94610, CA
31,261
Population
17,926
Households
1.7
Avg Household Size
39
Median Age
73%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
14,886
Density / Sq Mi
$130,435
Median Household Income
$90,577
Median Earnings
$2,184
Median Rent
$1,324,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Updated systems, individual garages, private laundry, and a basement workshop support flexible residential income use.
Where is this quadplex located?
The property is located at 873 Erie ST Oakland, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Four residential units in a 3,962‑square‑foot apartment building; Constructed in 1924 with extensive earthquake retrofit work; Newer roof plus upgraded electrical and copper plumbing systems
