Vacant Victorian
New
For Sale
$1,195,000
962 54th Street, Oakland, CA 94608
Two separate residences include a three-bedroom lower flat and an upper unit with preserved period details.
Property Size2,270 SF
Price / SF$526.43
Days on Market4
Property Features for 962 54th Street
General Information
Standard status
Active
Size
2,270 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
garden
jacuzzi
storage shed
Building Details
Year Built
1895
Listing Agency:
Colliers International
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 22 at 4:14PM
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 Colliers International
Investment Insights
Based on property information with market context.
This vacant duplex, built in 1895, contains two distinct residences. The upper home features high ceilings, stained-glass elements, hardwood floors, and a retro kitchen. The lower residence is a fully legal three-bedroom, one-bath flat with an open-concept layout. Together, the units offer flexible living arrangements within a historic structure.
Outdoor improvements include a private fenced garden with fruit trees, a red-leaf plum tree, jacuzzi, and storage shed. Two off-street parking spaces add practical convenience. The property is located at 962 54th Street in Oakland, near Emeryville shopping and the Temescal corridor.
Outdoor improvements include a private fenced garden with fruit trees, a red-leaf plum tree, jacuzzi, and storage shed. Two off-street parking spaces add practical convenience. The property is located at 962 54th Street in Oakland, near Emeryville shopping and the Temescal corridor.
Key Highlights
- Vacant duplex with two separate residences
- Upper unit includes stained glass, hardwood floors, high ceilings, and a retro kitchen
- Fully legal lower flat with 3 bedrooms and 1 bath
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
$52,023
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
4.35%
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%
$1,040,460
$1.0M
Cap Rate 7%
$743,186
$743.2K
Cap Rate 9%
$578,033
$578.0K
Market Conditions
NOI Build-Up for 2,270 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
$77.6K $34.20/SF
− Vacancy
−$3.3K −$1.46/SF
EGI
$74.3K $32.74/SF
− OpEx
−$22.3K −$9.82/SF
NOI
$52.0K $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%
$1,040,460
Cap Rate 7%
$743,186
Cap Rate 9%
$578,033
Alternative Uses
Best Use
Multifamily LT 5
$743.2K
$650.3K – $867.1K
NOI $52,023 @ 7.0% cap · market cap 4.35%
Second Best
Apartment 5plus
$684.7K
$599.1K – $798.9K
NOI $47,931 @ 7.0% cap · market cap 4.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,955
Businesses Nearby
Explore this area
Business Placement
Demographics for 94608, CA
33,073
Population
17,956
Households
1.8
Avg Household Size
36
Median Age
64%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
11,812
Density / Sq Mi
$116,306
Median Household Income
$73,845
Median Earnings
$2,561
Median Rent
$826,900
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?
Duplex - Two separate residences include a three-bedroom lower flat and an upper unit with preserved period details.
Where is this duplex located?
The property is located at 962 54th Street Oakland, CA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Vacant duplex with two separate residences; Upper unit includes stained glass, hardwood floors, high ceilings, and a retro kitchen; Fully legal lower flat with 3 bedrooms and 1 bath
