Six-Unit Residential Asset in
For Sale
$975,000
9939 International Blvd, Oakland, CA 94603
Six-unit residential property in North Stonehurst neighborhood with income potential.
Property Size3,726 SF
Lot Size0.23 Acres
Price / SF$261.67
Days on Market208
Property Features for 9939 International Blvd
General Information
Standard status
Active
Size
3,726 SF
Lot size
0.23 Acres
Property subtype
Commercial
Amenities
Off-Site Parking
Building Details
Year Built
1904
Listing Agency:
KELLER WILLIAMS TRI VALLEY REALTY
(925) 397-4200
Listed By:
NOLAN JONES · License #01509417
Source:
Corcoran
Added: Jan 15
Changed: Aug 8
Last Checked: Apr 5 at 9:06PM
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 TRI VALLEY REALTY
Investment Insights
Based on property information with market context.
The property at 9939 International Blvd is a six-unit residential asset located in the North Stonehurst neighborhood. Built in 1904, the property includes approximately 3,726 square feet on a 9,796-square-foot lot. The unit mix consists of three two-bedroom/one-bath units, two one-bedroom/one-bath units, and one studio. One of the two-bedroom units is currently vacant and ready for immediate lease-up. The location offers access to everyday services along International Boulevard and the area is characterized by steady rental demand. The property provides an opportunity for long-term income stability.
Key Highlights
- Six‑unit residential building in North Stonehurst with steady rental demand.
- Diverse unit mix: three 2‑bedroom/1‑bath, two 1‑bedroom/1‑bath, and one studio.
- One 2‑bedroom unit is vacant and ready for immediate lease‑up.**
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
$70,585
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
7.24%
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%
$1,411,700
$1.4M
Cap Rate 7%
$1,008,357
$1.0M
Cap Rate 9%
$784,278
$784.3K
Market Conditions
NOI Build-Up for 3,726 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
$136.8K $36.72/SF
− Vacancy
−$8.5K −$2.28/SF
EGI
$128.3K $34.44/SF
− OpEx
−$57.8K −$15.50/SF
NOI
$70.6K $18.94/SF
Area
ZIP 94603
Vacancy
6.20%
Lease Rate
$36.72 /SF/Yr
Expense Ratio
45.00%
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%
$1,411,700
Cap Rate 7%
$1,008,357
Cap Rate 9%
$784,278
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$882.3K – $1.18M
NOI $70,585 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.09M
$951.1K – $1.27M
NOI $76,086 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Explore this area
Business Placement
Demographics for 94603, CA
36,681
Population
11,199
Households
3.3
Avg Household Size
32
Median Age
15%
College-Educated
69%
High-School Grad
2.7 sq mi
ZIP Area
13,586
Density / Sq Mi
$71,086
Median Household Income
$37,025
Median Earnings
$1,838
Median Rent
$596,100
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?
Apartment building - Six-unit residential property in North Stonehurst neighborhood with income potential.
Where is this apartment building located?
The property is located at 9939 International Blvd Oakland, CA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Six‑unit residential building in North Stonehurst with steady rental demand.; Diverse unit mix: three 2‑bedroom/1‑bath, two 1‑bedroom/1‑bath, and one studio.; One 2‑bedroom unit is vacant and ready for immediate lease‑up.**
