Triplex with Converted
For Sale
$1,000,000
981 Vermont St, Oakland, CA 94610
Residential Income, Oakland, CA
Property Size3,320 SF
Lot Size0.25 Acres
Price / SF$301.20
Days on Market8
Property Features for 981 Vermont St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Interior features
Formal Entry
Exterior features
Back Yard
Subdivision
Lakeshore/Grand
Lot features
Premium Lot
Directions
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Standard status
Active
APN
1185211
Size
3,320 SF
Lot size
0.25 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
patio
backyard
Building Details
Year built
1935
Number of units
3
Flooring type
Hardwood
Building materials
Siding - Stucco
Roof type
Composition
Listing Agency:
Keller Williams Tri-Valley · Keller Williams Realty
(925) 397-4200
Listed By:
Max DeVries
(925) 525-0116
Added: Oct 7
Changed: Oct 14
Last Checked: Oct 14 at 3:06PM
MLS# 41150468
Copyright © 2026 Bay East. 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.
Built in 1935, this Oakland triplex contains three living areas: a two-bedroom, one-bathroom unit on the first floor and two apartments upstairs. The first-floor space is vacant, while the upper apartments generate rental income. A converted basement offers additional space that may be used for living or rental purposes. The property is presented as a fixer and includes hardwood flooring, forced-air heat, and stucco siding.
The 0.25-acre property also has a two-car garage, patio, and backyard. Public water and sewer serve the site.
The 0.25-acre property also has a two-car garage, patio, and backyard. Public water and sewer serve the site.
Key Highlights
- Three living spaces: a first‑floor unit and two upstairs apartments
- Vacant first‑floor space has 2 bedrooms and 1 bathroom
- Converted basement may serve as additional living or rental space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,087
Cap Rate
7.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,521,740
$1.5M
Cap Rate 7%
$1,086,957
$1.1M
Cap Rate 9%
$845,411
$845.4K
Market Conditions
NOI Build-Up for 3,320 SF
Gross rent
$113.5K $34.20/SF
− Vacancy
−$4.8K −$1.46/SF
EGI
$108.7K $32.74/SF
− OpEx
−$32.6K −$9.82/SF
NOI
$76.1K $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%
$1,521,740
Cap Rate 7%
$1,086,957
Cap Rate 9%
$845,411
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$951.1K – $1.27M
NOI $76,087 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$1.00M
$876.3K – $1.17M
NOI $70,102 @ 7.0% cap · market cap 7.01%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,071
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Three separate living areas include two upper-level apartments and a vacant first-floor unit.
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: Three living spaces: a first‑floor unit and two upstairs apartments; Vacant first‑floor space has 2 bedrooms and 1 bathroom; Converted basement may serve as additional living or rental space
