Oakland Fourplex: Vintage Charm, Modern
881 Erie St Oakland, CA 94610
881 Erie St, Oakland, CA, 94610
$1,450,000
Pending
For Sale
$1,450,000
Pending
Vintage 1926 Oakland fourplex with vacant unit and Oakland Hills views.
Property Size3,640 SF
Days on Market59
Property Features for 881 Erie St
General Information
- Standard status
- Pending
- Size
- 3,640 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1926
Listing Agency
Keller Williams Realty Walnut Creek
(510) 592-5554
Listed by
Joey Wang · License #01890931
(510) 592-5554
Source
Elliman
Added: May 21 Checked: Jul 17 at 6:40 am
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 Keller Williams Realty Walnut Creek
Investment Insights
Based on property information with market context.
This vintage 1926 Spanish-style stucco fourplex is located in Oakland, between Grand and Lakeshore, offering proximity to amenities such as Trader Joe's, Peet's, Walgreens, and the Saturday Grand Lake Farmers Market. Lake Merritt is also nearby. The property features four 2BR/1BA units, each approximately 910 SF, with refinished hardwood floors, crown molding, updated kitchens, and stainless appliances. Three units are currently occupied and generate $87,672 in annual income. One unit is delivered vacant, offering the option for owner-occupancy with views of the Oakland Hills. Each unit has access to a private garage. Additional features include a 2025 EV-charging sub-panel, separate gas and electric meters per unit, app-to-pay basement laundry, three storage rooms, Schlage keyless entries, Ring cameras, and automatic garden watering. The property also includes a 2025 water heater and 2020 Lennox furnaces.
Key Highlights
- Owner‑occupier unit delivered vacant with Oakland Hills views.
- Strong income potential: $87,672 annual income from three occupied units.
- Prime location near Trader Joe's, Peet's, Walgreens, Grand Lake Farmers Market, and Lake Merritt.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $124.5k | $34.20 |
| − Vacancy | −$5.3k | −$1.46 |
| EGI | $119.2k | $32.74 |
| − OpEx | −$35.8k | −$9.82 |
| NOI | $83.4k | $22.92 |
3,640 SF · lease $34.20/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.39M
NOI $83,421 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$1.10M
$960.7K – $1.28M
NOI $76,859 @ 7.0% cap · market cap 5.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Vintage 1926 Oakland fourplex with vacant unit and Oakland Hills views.
Where is this quadplex located?
The property is located at 881 Erie St Oakland, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Owner‑occupier unit delivered vacant with Oakland Hills views.; Strong income potential: $87,672 annual income from three occupied units.; Prime location near Trader Joe's, Peet's, Walgreens, Grand Lake Farmers Market, and Lake Merritt.
