Three-Unit Triplex with Detached
For Sale
$999,888
Pending
2541 Marina Blvd, San Leandro, CA 94577
MULTI_FAMILY - San Leandro, CA
Property Size2,662 SF
Lot Size0.21 Acres
Days on Market97
Property Features for 2541 Marina Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 7, Bedroom 6, Bathroom 6, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 5, Bathroom 3, Bathroom 4, Bedroom 2, Bathroom 2, Bathroom 1
Parking features
Covered, Garage
Window features
Window Coverings
Interior features
Storage Area(s), Shower Stall(s), Tub w/Shower Over
Exterior features
Back Yard, Front Yard, Garden/Play, Storage, Landscape Back, Landscape Front, Yard Space, Garden
Fencing
Fenced
Appliances
Gas Water Heater
Subdivision
Mulford Gardens
Lot features
Level, Rectangular Lot
Directions
From 880, exit Marina blvd west...
Standard status
Pending
APN
79A56516
Size
2,662 SF
Lot size
0.21 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Building Details
Year built
1954
Number of units
3
Flooring type
Hardwood, Tile, Vinyl
Building materials
Stucco, Wood Siding
Roof type
Metal, Composition
Additional Structures
Storage
Listing Agency:
EXP Realty of California, Inc
(888) 584-9427
Listed By:
Michael Garcia
(510) 303-1757
Added: May 4
Changed: Aug 3
Last Checked: Aug 8 at 10:06AM
MLS# 41133413
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.
This three-unit triplex is set on one lot and features three two-bedroom, one-bath residences. The property includes 2,662 square feet on a 0.2066-acre lot, with construction dating to 1954. Interior features include storage areas, multiple bathrooms with shower stall(s), and a tub with shower over, along with laundry space and in-home access to outdoor areas. The home also includes stainless steel appliances, dual-pane windows, and a remodeled bathroom with a large walk-in shower, plus a kitchen with tile and vinyl flooring and glass-paneled cabinetry in at least one unit. Outdoor space is supported by a fenced yard and landscape areas, with a front yard, back yard, garden/play space, patio, deck, and storage.
Parking is provided via covered parking and a garage setup, including a detached garage and two additional parking spaces.
Utilities include public water and public sewer, and heating is via wall furnace. The roof is described as metal and composition, with exterior materials including stucco and wood siding.
Parking is provided via covered parking and a garage setup, including a detached garage and two additional parking spaces.
Utilities include public water and public sewer, and heating is via wall furnace. The roof is described as metal and composition, with exterior materials including stucco and wood siding.
Key Highlights
- Three two‑bedroom, one‑bath units on one lot
- 2,662 SF on a 0.2066‑acre lot
- Dual‑pane windows, stainless steel appliances, and remodeled bath with walk‑in shower
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
$89,350
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
8.94%
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%
$1,787,000
$1.8M
Cap Rate 7%
$1,276,429
$1.3M
Cap Rate 9%
$992,778
$992.8K
Market Conditions
NOI Build-Up for 2,662 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
$135.8K $51.00/SF
− Vacancy
−$8.1K −$3.05/SF
EGI
$127.6K $47.95/SF
− OpEx
−$38.3K −$14.39/SF
NOI
$89.4K $33.57/SF
Area
Alameda County, CA
Vacancy
5.98%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,787,000
Cap Rate 7%
$1,276,429
Cap Rate 9%
$992,778
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.49M
NOI $89,350 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$550.9K
$482.0K – $642.7K
NOI $38,562 @ 7.0% cap · market cap 3.86%
Theoretical Best
Retail
$12.14M
$10.62M – $14.16M
NOI $849,515 @ 7.0% cap · market cap 84.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 94577, CA
48,868
Population
17,681
Households
2.8
Avg Household Size
41
Median Age
39%
College-Educated
86%
High-School Grad
8.1 sq mi
ZIP Area
6,033
Density / Sq Mi
$110,989
Median Household Income
$56,382
Median Earnings
$2,199
Median Rent
$824,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex offers three two-bedroom, one-bath residences with detached garage, covered parking, and additional off-street spaces.
Where is this triplex located?
The property is located at 2541 Marina Blvd San Leandro, CA.
What is the asking price?
The asking price for this property is $999,888.
What are key features of this property?
This property features: Three two‑bedroom, one‑bath units on one lot; 2,662 SF on a 0.2066‑acre lot; Dual‑pane windows, stainless steel appliances, and remodeled bath with walk‑in shower
