Remodeled Four-Unit Multifamily
New
For Sale
$950,000
1520 San Pablo Ave, Pinole, CA 94564
Flexible multifamily asset with updated interiors, dedicated laundry, and covered and off-street parking.
Property Size2,982 SF
Days on Market2
Property Features for 1520 San Pablo Ave
General Information
Standard status
Active
Size
2,982 SF
Property subtype
Investment
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Road Access
Yes
Amenities
laundry room
Building Details
Building Size
2,982 SF
Year Built
1966
Buildings
1
Units
4
Listed By:
Rick Warner
(415) 302-6348
Source:
Elliman
Added: Sep 9
Last Checked: Sep 10 at 8:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rick Warner
Investment Insights
Based on property information with market context.
This four-unit multifamily property, built in 1966, includes two vacant units that have been remodeled. Each residence offers a two-bedroom, one-bath layout with an open living concept and eat-in kitchen. Improvements in the remodeled units include luxury vinyl plank flooring, Shaker-style cabinets, and recessed lighting.
A separate laundry room contains a commercial Speed Queen washer and dryer. The property also provides covered parking along with additional off-street parking. Located on San Pablo Avenue near Bayfront Park, the fourplex supports an owner-occupant arrangement or leasing of all four units, subject to applicable requirements.
A separate laundry room contains a commercial Speed Queen washer and dryer. The property also provides covered parking along with additional off-street parking. Located on San Pablo Avenue near Bayfront Park, the fourplex supports an owner-occupant arrangement or leasing of all four units, subject to applicable requirements.
Key Highlights
- Four units, each with 2 bedrooms and 1 bath
- Two vacant units have been remodeled
- Updated units feature luxury vinyl plank flooring, Shaker‑style cabinetry, and recessed lighting
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
$51,054
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
5.37%
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%
$1,021,080
$1.0M
Cap Rate 7%
$729,343
$729.3K
Cap Rate 9%
$567,267
$567.3K
Market Conditions
NOI Build-Up for 2,982 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
$76.9K $25.80/SF
− Vacancy
−$4.0K −$1.34/SF
EGI
$72.9K $24.46/SF
− OpEx
−$21.9K −$7.34/SF
NOI
$51.1K $17.12/SF
Area
Contra Costa County, CA
Vacancy
5.20%
Lease Rate
$25.80 /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%
$1,021,080
Cap Rate 7%
$729,343
Cap Rate 9%
$567,267
Alternative Uses
Best Use
Multifamily LT 5
$729.3K
$638.2K – $850.9K
NOI $51,054 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$677.2K
$592.5K – $790.1K
NOI $47,403 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$1.13M
$986.3K – $1.32M
NOI $78,904 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
916
Businesses Nearby
Explore this area
Business Placement
Demographics for 94564, CA
19,024
Population
7,285
Households
2.6
Avg Household Size
44
Median Age
39%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
2,798
Density / Sq Mi
$120,833
Median Household Income
$55,841
Median Earnings
$2,738
Median Rent
$697,100
Median Home Value
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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?
Quadplex - Flexible multifamily asset with updated interiors, dedicated laundry, and covered and off-street parking.
Where is this quadplex located?
The property is located at 1520 San Pablo Ave Pinole, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bath; Two vacant units have been remodeled; Updated units feature luxury vinyl plank flooring, Shaker‑style cabinetry, and recessed lighting
