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    15 Olive Ave Piedmont, CA 94611

    Sponsored
    For Sale
    $2,998,000

    MULTI_FAMILY - Piedmont, CA

    Property size:
    4,599 SF
    Lot size:
    0.32 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 20 at 9:06 pm

    Property Features for 15 Olive Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Security features
    Security Alarm
    Window features
    Double Pane Windows, Screens
    Rooms
    Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 2, Bedroom 3
    Bedrooms
    5
    APN
    50927114
    Parking
    12
    Parking features
    Off Street, Garage, Open
    Interior features
    Updated Baths, Updated Kitchen, Formal Entry, Storage Area(s), Shower Stall(s), Tub w/Shower Over
    Exterior features
    Garden/Play, Garden
    Fireplace
    1
    Appliances
    Dryer, Washer, Tankless Water Heater
    Size
    4,599 SF
    Lot size
    0.32 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Wall Furnace

    Building Details

    Year built
    1897
    Flooring type
    Vinyl, Hardwood, Carpet, Tile
    Building materials
    Brick, Composition Shingles, Stucco, Wood Siding
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Dana S. Cohen

    The GRUBB Co., Inc. (510) 339-0400

    Listing agent Dana S. Cohen (510) 813-0321

    Listing date Feb 20, 2026

    MLS# 41124420 Listing URL

    Copyright © 2026 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Piedmont Compound with Elegant Residences

    This exceptional Piedmont compound, situated on nearly a third of an acre, offers scale, privacy, and timeless elegance. The lush landscaped grounds feature mature fruit trees and a 100-year-old vine-covered pergola, framing a level lawn. The updated three-bedroom main residence blends architectural character with modern upgrades. Each bedroom includes an ensuite bath, with the primary retreat featuring a renovated spa-like bath in honed marble tile. The expansive living room, with French doors to the pergola, and the grand dining room, opening to a sunlit patio, facilitate indoor-outdoor entertaining. A sun-filled den with a window seat and built-in bookcase provides a setting for relaxation. The carriage house includes a spacious two-bedroom, one-bath apartment with an updated kitchen, plus a separate studio/office below. A rare nine-car redwood garage includes an original service pit. Located two blocks from Beach Elementary School, pickle ball courts, and a dog park, and one block from the Morcom Rose Garden, the property is also near public transit, freeway access, and the shops and restaurants along Piedmont Avenue. The property size is 4599 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Piedmont
    County
    Alameda
    State
    California
    Longitude
    -122.248317
    Latitude
    37.822404

    Nearby Similar for Sale

    • $2,500,000
      5,078 SF

      Piedmont Multifamily Investment Opportunity

      Fully occupied 6-unit property in desirable Piedmont location.
      150 Monticello Ave, Piedmont, CA 94611
      View Details

    FAQs

    What type of property is this?
    Apartment building - Exceptional Piedmont property with main residence, carriage house, and garage.
    Where is this apartment building located?
    The property is located at 15 Olive Ave Piedmont, CA.
    What is the asking price?
    The asking price for this property is $2,998,000.
    What are key features of this property?
    This property features: - Rare **9-car redwood garage with original service pit.**; - Carriage house features a 2 bed, 1 bath apartment and separate studio/office.; - Expansive grounds boast mature fruit trees, a level lawn, and a 100-year-old vine-covered pergola.
    (510) 813-0321
    Request Owner's contact information
    15 Olive Ave Piedmont, CA 94611
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    Piedmont, CA 94611
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    15 Olive Ave Piedmont, CA 94611
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    We can help!
    Listing Contact
    Dana S. Cohen
    (510) 813-0321 (510) 339-0400
    Learn more
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