Updated 4-Unit
For Sale
$1,250,000
873 Erie, Oakland, CA 94610
Residential Income, Oakland, CA
Property Size3,962 SF
Lot Size0.11 Acres
Price / SF$315.50
Days on Market9
Property Features for 873 Erie
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Rooms
Bedroom 1, Bedroom 2, Basement, Bedroom 4, Bedroom 3
Parking
4
Parking features
Open, Garage
Interior features
Storage
Exterior features
Back Yard
Fencing
Fenced
Appliances
Dryer, Washer, Gas Water Heater, Tankless Water Heater
Subdivision
LAKESHORE
Lot features
Back Yard
View
City
Standard status
Active
APN
011084000400
Size
3,962 SF
Lot size
0.11 Acres
Utilities
Heating system
Space Heater
Water source
Public
Amenities
in-unit laundry
garage
back yard patio
workshop/storage
Building Details
Year built
1924
Flooring type
Tile, Hardwood
Building materials
Stucco
Additional Structures
Storage
Listing Agency:
The GRUBB Company
(510) 339-0400
Listed By:
Ed Kuo · License #01034071
(510) 919-0707
Added: Sep 8
Changed: Sep 16
Last Checked: Sep 16 at 2:06PM
MLS# 41147494
Copyright © 2026 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4-unit apartment property offers 3962 square feet on a 0.1148-acre lot. Built in 1924, the building combines traditional character with substantial system improvements, including an updated roof, expanded electrical work, copper plumbing, and earthquake retrofitting. Interiors feature hardwood flooring, wood trim, craftsman-style built-ins, and tile finishes. Each unit includes in-unit laundry, while garage parking and open parking are available on site.
Unit #2 is vacant and includes a remodeled kitchen with a breakfast bar, newer appliances, and granite countertops. Additional property features include a fenced back yard patio and basement workshop and storage space. The property is located 2 blocks from the Lakeshore Avenue Shopping District in Oakland’s Lakeshore neighborhood.
Unit #2 is vacant and includes a remodeled kitchen with a breakfast bar, newer appliances, and granite countertops. Additional property features include a fenced back yard patio and basement workshop and storage space. The property is located 2 blocks from the Lakeshore Avenue Shopping District in Oakland’s Lakeshore neighborhood.
Key Highlights
- 4‑unit apartment building with 3962 square feet
- 0.1148‑acre lot; built in 1924
- Updated roof, electrical systems, copper plumbing, and earthquake retrofit
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
$90,800
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
7.26%
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%
$1,816,000
$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
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
$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 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%
$1,816,000
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.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,149
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units feature upgraded systems, individual laundry, garage parking, and a shared rear patio.
Where is this quadplex located?
The property is located at 873 Erie 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: 4‑unit apartment building with 3962 square feet; 0.1148‑acre lot; built in 1924; Updated roof, electrical systems, copper plumbing, and earthquake retrofit
