Triplex with Gated
For Sale
$925,000
985 39 Street, Oakland, CA 94608
Fully rented residential income property with a front house and two rear units.
Property Size2,179 SF
Price / SF$424.51
Days on Market9
Property Features for 985 39 Street
General Information
Standard status
Active
Size
2,179 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
1 x 2BR, 2 x 1BR
Multifamily Units
3
Amenities
gas fireplace
private backyard
fruit trees
Building Details
Year Built
1925
Listing Agency:
Coldwell Banker Bartels
(510) 758-8050
Listed By:
Solomon Bekkele · License #01266947
(510) 282-9365
Source:
Exitrealty
Added: Sep 4
Changed: Sep 10
Last Checked: Sep 12 at 6:57AM
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 Coldwell Banker Bartels
Investment Insights
Based on property information with market context.
This 1925-built triplex includes a primary residence at the front and two additional units positioned behind it. The main residence offers a formal living room with a gas fireplace, dining space, updated kitchen countertops, two bedrooms, a full bathroom, and a bonus room with backyard access. The lower unit includes one bedroom, a bonus room, an open living-dining area, and refinished Pergo flooring. The upper unit features one bedroom, a bonus room, living room, kitchen, bathroom, and refinished flooring throughout.
All three units share a large gated backyard with fruit trees. The property is fully rented and sits near the Oakland–Emeryville border. Safeway is a 4-minute walk away, while MacArthur BART Station is a 5 to 7 minutes drive. Walk Score is 94, Bike Score is 92, and Transit Score is 53. Buyer is responsible for the sewer lateral.
All three units share a large gated backyard with fruit trees. The property is fully rented and sits near the Oakland–Emeryville border. Safeway is a 4-minute walk away, while MacArthur BART Station is a 5 to 7 minutes drive. Walk Score is 94, Bike Score is 92, and Transit Score is 53. Buyer is responsible for the sewer lateral.
Key Highlights
- Fully rented triplex with one front residence and two rear units
- 1925 construction with three residential units
- Large gated backyard with fruit trees shared by all units
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
$49,938
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
5.40%
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%
$998,760
$998.8K
Cap Rate 7%
$713,400
$713.4K
Cap Rate 9%
$554,867
$554.9K
Market Conditions
NOI Build-Up for 2,179 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
$74.5K $34.20/SF
− Vacancy
−$3.2K −$1.46/SF
EGI
$71.3K $32.74/SF
− OpEx
−$21.4K −$9.82/SF
NOI
$49.9K $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%
$998,760
Cap Rate 7%
$713,400
Cap Rate 9%
$554,867
Alternative Uses
Best Use
Multifamily LT 5
$713.4K
$624.2K – $832.3K
NOI $49,938 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$657.3K
$575.1K – $766.8K
NOI $46,010 @ 7.0% cap · market cap 4.97%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,640
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
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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 - Fully rented residential income property with a front house and two rear units.
Where is this triplex located?
The property is located at 985 39 Street Oakland, CA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Fully rented triplex with one front residence and two rear units; 1925 construction with three residential units; Large gated backyard with fruit trees shared by all units
