The East Bay multifamily market continues to show strong momentum. A recent off-market fourplex near Rockridge BART closed in under two weeks—and over the listing price—highlighting just how competitive the market remains for well-located, well-presented properties.
Several buyers who toured the property called afterward, frustrated that it went into contract so quickly. The reason was simple: great location, correct pricing, and a property that was fully updated and turnkey. The owner had done everything right, and the market responded immediately.
This marks the second fourplex transaction I’ve worked on this spring, and buyer demand remains strong. I continue to meet qualified buyers actively searching for multi-unit buildings throughout the East Bay.
Off-Market Fourplex Details: Rockridge
This was a rare opportunity to own a fourplex in one of the most desirable neighborhoods in the East Bay—just half a block from Rockridge BART and Market Hall.
Property highlights:
- Over $11,800 in gross monthly rent
- Listing price: $1,649,000
- Current cap rate: 5.6%
- Market cap rate: 6.3%
- Current GRM: 11.6
- Market GRM: 10.7
Three of the units had been upgraded and were vacant at the time of sale, giving the new owner the opportunity to select tenants or pursue an owner-occupant or family move-in strategy.
For listing details, see: 328 Forest Street Fourplex
To view recent listings, closed sales, and previous market updates, visit East Bay Apartment Advisors.
Current Market Valuations
The Federal Reserve has indicated that two interest rate cuts are expected later this year. After an extended period of higher interest rates, buyers and sellers are now well aligned on current valuations.
Once the timing of rate cuts is officially announced, we expect to see increased transaction activity. Lower mortgage rates typically allow buyers to stretch slightly on pricing, which supports stronger sale values.
Sellers continue to receive strong offers for properties that:
- Are in prime locations
- Have stable rental income
- Show little to no deferred maintenance
Outlook for East Bay Rents
The East Bay rental market is warming up. Conversations with property management companies confirm growing demand, supported by Bay Area employers continuing return-to-office and hybrid work policies.
At the same time, new apartment construction has slowed significantly. Reduced supply should continue to drive strong interest in available units and help keep vacancy rates low as we move into better weather.
If you’re having difficulty filling a vacancy or have questions about pricing strategy, feel free to reach out. In many cases, a temporary rent concession is more effective than permanently lowering rent—for both new and existing tenants.
Current Sales Market
If you’re considering selling in the next 6–12 months, now is a smart time to begin planning. Buyers are still underwriting deals based on income levels similar to pre-COVID conditions, and well-marketed properties are selling quickly.
One common question sellers ask is how to defer capital gains taxes. Two commonly used strategies include:
- Delaware Statutory Trusts (DST)
- 1031 Tax-Deferred Exchanges
Earlier this spring, another Oakland fourplex went into contract at list price with a short closing and no issues—further proof that pricing and marketing strategy matter.
Guidance Matters
If you’re thinking about selling your apartment building, I can help with valuation, strategy, and guidance throughout the process.
I also work closely with top East Bay multi-unit lenders who are actively closing transactions. Buyers with solid down payments can still secure financing, and I can help navigate the process from start to finish.
Experienced representation is critical. Comprehensive marketing—across listing platforms, broker networks, and targeted email campaigns—can expose your property to tens of thousands of qualified buyers.