Triplex with Converted
For Sale
$1,000,000
981 Vermont St, Oakland, CA 94610
Three living areas include two upstairs apartments, a vacant ground-floor residence, and a converted basement.
Property Size3,220 SF
Price / SF$310.56
Days on Market9
Property Features for 981 Vermont St
General Information
Standard status
Active
Size
3,220 SF
Total Parking Spaces
2
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
Cosmetic fixer
Additional Details
Public Transit
Yes
Amenities
patio
backyard
Building Details
Year Built
1935
Buildings
1
Units
3
Listed By:
Max DeVries
(925) 525-0116
Source:
Elliman
Added: Oct 9
Changed: Oct 15
Last Checked: Oct 16 at 10:19AM
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 Max DeVries
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Investment Insights
Based on property information with market context.
Built in 1935, this 3,220-square-foot property has been configured as three living spaces. The ground-floor residence has two bedrooms and one bathroom and is vacant; two apartments occupy the upper floor. A converted basement offers an additional area that may be used for rental or living space. The property also includes a two-car garage, patio, and backyard.
The building is described as a fixer-upper. Downtown Oakland views are present when trees are trimmed. Walk Score is 88, Bike Score is 60, and Transit Score is 53.
The building is described as a fixer-upper. Downtown Oakland views are present when trees are trimmed. Walk Score is 88, Bike Score is 60, and Transit Score is 53.
Key Highlights
- 3,220 square feet, built in 1935
- Three living spaces: a two‑bedroom, one‑bath ground‑floor unit and two upstairs apartments
- Converted basement may serve as additional rental or living space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,795
Cap Rate
7.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,475,900
$1.5M
Cap Rate 7%
$1,054,214
$1.1M
Cap Rate 9%
$819,944
$819.9K
Market Conditions
NOI Build-Up for 3,220 SF
Gross rent
$110.1K $34.20/SF
− Vacancy
−$4.7K −$1.46/SF
EGI
$105.4K $32.74/SF
− OpEx
−$31.6K −$9.82/SF
NOI
$73.8K $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%
$1,475,900
Cap Rate 7%
$1,054,214
Cap Rate 9%
$819,944
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$922.4K – $1.23M
NOI $73,795 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$971.3K
$849.9K – $1.13M
NOI $67,990 @ 7.0% cap · market cap 6.80%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,159
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three living areas include two upstairs apartments, a vacant ground-floor residence, and a converted basement.
Where is this triplex located?
The property is located at 981 Vermont St Oakland, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 3,220 square feet, built in 1935; Three living spaces: a two‑bedroom, one‑bath ground‑floor unit and two upstairs apartments; Converted basement may serve as additional rental or living space
