HAP-Contract Fourplex With Private
For Sale
$895,000
Pending
978 75Th Ave, Oakland, CA 94621
Fully occupied East Oakland fourplex with private entries, assigned parking, and updated kitchens supporting HACA HAP income.
Property Size2,916 SF
Days on Market54
Property Features for 978 75Th Ave
General Information
Standard status
Pending
Size
2,916 SF
Property subtype
Investment
Occupancy
100%
Financials
Cap Rate
8.5%
Business Included
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1943
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty Walnut Creek
(510) 592-5554
Listed By:
Joey Wang · License #01890931
(510) 592-5554
Source:
Elliman
Added: Jun 10
Changed: Jul 10
Last Checked: Aug 1 at 10:36AM
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.
978 75th Avenue is a two-story fourplex designed for four separate households, with two 3BD/1BA units and two 2BD/1BA units. Each unit has a private entry and assigned parking. Interiors include an updated kitchen package with quartz countertops and shaker cabinetry. The building is supported by separate utility meters for all four units, with tenants responsible for their own gas and electric.
The property is located along the 75th Avenue corridor in East Oakland, less than one mile from Coliseum BART. The asset is positioned within an established rental neighborhood and is fully occupied, with three of the four units operating under active HACA HAP contracts.
From an owner-operator perspective, the combination of private entries, assigned parking, and separate utilities simplifies day-to-day tenancy management while maintaining consistent rent support through the HACA HAP agreements. Annualized gross income is $117,660 with a proforma NOI of $76,073. Financial figures provided include a lean expense ratio of 30.5% based on tenant-paid gas and electric. The asking price is $895,000, reflecting $223,750 per unit and approximately $307 per square foot, as stated in the offering remarks.
The property is located along the 75th Avenue corridor in East Oakland, less than one mile from Coliseum BART. The asset is positioned within an established rental neighborhood and is fully occupied, with three of the four units operating under active HACA HAP contracts.
From an owner-operator perspective, the combination of private entries, assigned parking, and separate utilities simplifies day-to-day tenancy management while maintaining consistent rent support through the HACA HAP agreements. Annualized gross income is $117,660 with a proforma NOI of $76,073. Financial figures provided include a lean expense ratio of 30.5% based on tenant-paid gas and electric. The asking price is $895,000, reflecting $223,750 per unit and approximately $307 per square foot, as stated in the offering remarks.
Key Highlights
- Fully occupied East Oakland fourplex, built in 1943, with 4 units and separate private entries.
- Unit mix: two 3BD/1BA and two 2BD/1BA units in a two‑story building totaling approx. 2,916 SF.
- Three units are under active HACA HAP contracts.
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 | $99.7k | $34.20 |
| − Vacancy | −$4.3k | −$1.46 |
| EGI | $95.5k | $32.74 |
| − OpEx | −$28.6k | −$9.82 |
| NOI | $66.8k | $22.92 |
2,916 SF · lease $34.20/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$954.7K
$835.4K – $1.11M
NOI $66,828 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$879.6K
$769.6K – $1.03M
NOI $61,571 @ 7.0% cap · market cap 6.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
830
Businesses Nearby
Explore this area
Business Placement
Demographics for 94621, CA
35,816
Population
11,078
Households
3.2
Avg Household Size
32
Median Age
13%
College-Educated
67%
High-School Grad
8.5 sq mi
ZIP Area
4,214
Density / Sq Mi
$53,106
Median Household Income
$35,199
Median Earnings
$1,527
Median Rent
$537,600
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?
Quadplex - Fully occupied East Oakland fourplex with private entries, assigned parking, and updated kitchens supporting HACA HAP income.
Where is this quadplex located?
The property is located at 978 75Th Ave Oakland, CA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Fully occupied East Oakland fourplex, built in 1943, with 4 units and separate private entries.; Unit mix: two 3BD/1BA and two 2BD/1BA units in a two‑story building totaling approx. 2,916 SF.; Three units are under active HACA HAP contracts.
