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1033 Magnolia St 5 Unit Apartment Building $995,000 ($199,000/Unit) 7.43% Cap Rate Oakland, CA 94607
INVESTMENT HIGHLIGHTS
- Stable Tenant Base
- Central Location
- 7.43 % Cap / 8.70 GRM (Current)
- 9.81% Cap / 7.12 GRM (Market)
EXECUTIVE SUMMARY
1033 Magnolia Street, a remarkable West Oakland property featuring two homes on one expansive lot. The front residence, a grand Victorian built in 1898, beautifully showcases the craftsmanship and architectural detail of its era while offering the flexibility of four individual units.
The main home includes two 1-bedroom units on the ground floor, one 1-bedroom flat on the middle level, and a 2-bedroom owner’s unit occupying the top floor. The owner’s unit has been recently renovated with designer light fixtures, new appliances, stylish countertops, plush carpeting, and a fully updated bathroom. Thoughtfully staged, this elegant space highlights the perfect balance of historic charm and modern comfort — ideal for an owner-occupant or as a showpiece rental.
At the rear of the property sits a detached cottage, currently under renovation, offering potential as an additional income unit, private guest house, or creative studio space once complete.
Located in the heart of West Oakland, this property combines vintage character with exceptional investment potential. Its close proximity to downtown Oakland, public transit, and the vibrant dining and arts scenes of Uptown and Jack London Square make it a truly special opportunity for both investors and owner-occupants alike.
The main home includes two 1-bedroom units on the ground floor, one 1-bedroom flat on the middle level, and a 2-bedroom owner’s unit occupying the top floor. The owner’s unit has been recently renovated with designer light fixtures, new appliances, stylish countertops, plush carpeting, and a fully updated bathroom. Thoughtfully staged, this elegant space highlights the perfect balance of historic charm and modern comfort — ideal for an owner-occupant or as a showpiece rental.
At the rear of the property sits a detached cottage, currently under renovation, offering potential as an additional income unit, private guest house, or creative studio space once complete.
Located in the heart of West Oakland, this property combines vintage character with exceptional investment potential. Its close proximity to downtown Oakland, public transit, and the vibrant dining and arts scenes of Uptown and Jack London Square make it a truly special opportunity for both investors and owner-occupants alike.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$113,350
|
$28.77
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$5,667
|
$1.44
|
| Effective Gross Income |
$107,683
|
$27.33
|
| Taxes |
$17,222
|
$4.37
|
| Operating Expenses |
$17,553
|
$4.46
|
| Total Expenses |
$34,775
|
$8.83
|
| Net Operating Income |
$72,908
|
$18.50
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $113,350 |
| Annual Per SF | $28.77 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $5,667 |
| Annual Per SF | $1.44 |
| Effective Gross Income | |
|---|---|
| Annual | $107,683 |
| Annual Per SF | $27.33 |
| Taxes | |
|---|---|
| Annual | $17,222 |
| Annual Per SF | $4.37 |
| Operating Expenses | |
|---|---|
| Annual | $17,553 |
| Annual Per SF | $4.46 |
| Total Expenses | |
|---|---|
| Annual | $34,775 |
| Annual Per SF | $8.83 |
| Net Operating Income | |
|---|---|
| Annual | $72,908 |
| Annual Per SF | $18.50 |
PROPERTY FACTS
| Price | $995,000 | Building Class | B |
| Price Per Unit | $199,000 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 3,940 SF |
| Cap Rate | 7.43% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.7 | No. Stories | 3 |
| No. Units | 5 | Year Built/Renovated | 1898/2015 |
| Property Type | Multifamily | Parking Ratio | 0.51/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | $995,000 |
| Price Per Unit | $199,000 |
| Sale Type | Investment |
| Cap Rate | 7.43% |
| Gross Rent Multiplier | 8.7 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 3,940 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1898/2015 |
| Parking Ratio | 0.51/1,000 SF |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Balcony
- Dishwasher
- Crown Molding
- Granite Countertops
- Hardwood Floors
- Deck
SITE AMENITIES
- Controlled Access
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,678 | 710 |
| 2+1 | 1 | $3,200 | 1,100 |
1 1
Walk Score®
Very Walkable (76)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | 004-0039-015-00 | Total Assessment | $1,337,484 (2025) |
| Land Assessment | $390,425 (2025) | Annual Taxes | $17,222 ($4.37/SF) |
| Improvements Assessment | $947,059 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
004-0039-015-00
Land Assessment
$390,425 (2025)
Improvements Assessment
$947,059 (2025)
Total Assessment
$1,337,484 (2025)
Annual Taxes
$17,222 ($4.37/SF)
Tax Year
2024
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1033 Magnolia St
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