6-Unit Apartment
New
For Sale
$2,480,000
14746 Martell Ave, San Leandro, CA 94578
Residential Income, San Leandro, CA
Property Size6,242 SF
Lot Size0.21 Acres
Price / SF$397.31
Days on Market2
Property Features for 14746 Martell Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Covered
Exterior features
No Yard
Subdivision
San Leandro Brdr
Directions
Martell Ave, Bradrick Dr
Standard status
Active
APN
77C1305232
Size
6,242 SF
Lot size
0.21 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1962
Number of units
6
Flooring type
Carpet, Vinyl, Tile
Building materials
Composition Shingles
Roof type
Composition
Listing Agency:
RE/MAX Accord · RE/MAX International
(510) 739-4000
Listed By:
Monica Li · License #2061184
(510) 676-6553
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 24 at 6:06PM
MLS# 41149235
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 14746 Martell Ave in San Leandro, this six-unit apartment property was built in 1962 and contains approximately 6,242 square feet of building area on an approximately 9,354-square-foot lot. The unit mix includes two- and three-bedroom layouts. Interior finishes include carpet, vinyl, and tile flooring, while cooling is provided by window or wall/window units. Covered parking is available, and the property is served by public water and public sewer.
The property is near E. 14th Street, with access to I-580, I-880, the San Mateo-Hayward Bridge, and Bay Fair BART. The roof has composition shingles, and the exterior includes no yard. Its established rental history and six-unit configuration provide a clear multifamily operating profile for ownership or continued rental use.
The property is near E. 14th Street, with access to I-580, I-880, the San Mateo-Hayward Bridge, and Bay Fair BART. The roof has composition shingles, and the exterior includes no yard. Its established rental history and six-unit configuration provide a clear multifamily operating profile for ownership or continued rental use.
Key Highlights
- Six apartment units with two- and three‑bedroom floor plans
- Approximately 6,242 SF of building area
- Approximately 9,354 SF lot built in 1962
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
$90,422
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
3.65%
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%
$1,808,440
$1.8M
Cap Rate 7%
$1,291,743
$1.3M
Cap Rate 9%
$1,004,689
$1.0M
Market Conditions
NOI Build-Up for 6,242 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
$174.5K $27.96/SF
− Vacancy
−$10.1K −$1.62/SF
EGI
$164.4K $26.34/SF
− OpEx
−$74.0K −$11.85/SF
NOI
$90.4K $14.49/SF
Area
Alameda County, CA
Vacancy
5.80%
Lease Rate
$27.96 /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%
$1,808,440
Cap Rate 7%
$1,291,743
Cap Rate 9%
$1,004,689
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,422 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$28.46M
$24.90M – $33.20M
NOI $1,991,988 @ 7.0% cap · market cap 80.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
Explore this area
Business Placement
Demographics for 94578, CA
40,957
Population
14,819
Households
2.8
Avg Household Size
37
Median Age
25%
College-Educated
82%
High-School Grad
4.6 sq mi
ZIP Area
8,904
Density / Sq Mi
$89,149
Median Household Income
$47,672
Median Earnings
$2,077
Median Rent
$793,500
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property with two- and three-bedroom floor plans and covered parking in San Leandro.
Where is this apartment building located?
The property is located at 14746 Martell Ave San Leandro, CA.
What is the asking price?
The asking price for this property is $2,480,000.
What are key features of this property?
This property features: Six apartment units with two- and three‑bedroom floor plans; Approximately 6,242 SF of building area; Approximately 9,354 SF lot built in 1962
