10-Unit Apartment
For Sale
$2,598,000
9th, Oakland, CA 94606
ResidentialIncome, Oakland, CA
Property Size7,732 SF
Lot Size0.18 Acres
Price / SF$336.01
Days on Market10
Property Features for 9th
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-50
Elementary school
OaklandUnified
High school
OaklandUnified
Elementary school district
OaklandUnified
High school district
OaklandUnified
Subdivision
OaklandZipCode94606
Standard status
Active
APN
022-0341-013
Size
7,732 SF
Lot size
0.18 Acres
Amenities
on-site laundry room
Building Details
Year built
1964
Listing Agency:
KW Advisors · Keller Williams Realty
(650) 627-3700
Listed By:
Alina Siert · License #01893238
(408) 712-7692
Added: Oct 12
Changed: Oct 21
Last Checked: Oct 21 at 11:06AM
MLS# ML82064391
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1964, this two-story apartment property contains 10 units: four one-bedroom apartments, five two-bedroom apartments, and one two-bath, three-bedroom apartment measuring about 1,222 square feet. Gated tuck-under parking accommodates 10 cars, and residents have access to an on-site laundry room. The sewer lateral was replaced in 2018 and is certified by EBMUD through 2038. Zoning is R-50.
The property is in Oakland’s Ivy Hill neighborhood, east of Lake Merritt. Park Boulevard Plaza, FM Smith Park, and Highland Hospital are nearby, with access to I-580. Current and pro forma cap rates are 6.93% and 6.40%, respectively; market rents are about 8% above in-place rents.
The property is in Oakland’s Ivy Hill neighborhood, east of Lake Merritt. Park Boulevard Plaza, FM Smith Park, and Highland Hospital are nearby, with access to I-580. Current and pro forma cap rates are 6.93% and 6.40%, respectively; market rents are about 8% above in-place rents.
Key Highlights
- 10 apartments: four one‑bedroom, five two‑bedroom, and one two‑bath, three‑bedroom unit
- Gated tuck‑under parking for 10 cars and an on‑site laundry room
- Three‑bedroom apartment measures about 1,222 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,907
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,038,140
$3.0M
Cap Rate 7%
$2,170,100
$2.2M
Cap Rate 9%
$1,687,856
$1.7M
Market Conditions
NOI Build-Up for 7,732 SF
Gross rent
$292.3K $37.80/SF
− Vacancy
−$16.1K −$2.08/SF
EGI
$276.2K $35.72/SF
− OpEx
−$124.3K −$16.07/SF
NOI
$151.9K $19.65/SF
Area
ZIP 94606
Vacancy
5.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,038,140
Cap Rate 7%
$2,170,100
Cap Rate 9%
$1,687,856
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $151,907 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.52M
$3.08M – $4.11M
NOI $246,553 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,283
Businesses Nearby
Explore this area
Business Placement
Demographics for 94606, CA
40,768
Population
17,457
Households
2.3
Avg Household Size
37
Median Age
40%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
17,725
Density / Sq Mi
$70,769
Median Household Income
$47,558
Median Earnings
$1,775
Median Rent
$747,600
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
Frequently Asked Questions
What type of property is this?
Apartment building - The two-story property includes gated tuck-under parking and an on-site laundry room.
Where is this apartment building located?
The property is located at 9th Oakland, CA.
What is the asking price?
The asking price for this property is $2,598,000.
What are key features of this property?
This property features: 10 apartments: four one‑bedroom, five two‑bedroom, and one two‑bath, three‑bedroom unit; Gated tuck‑under parking for 10 cars and an on‑site laundry room; Three‑bedroom apartment measures about 1,222 SF
