Four-Unit Residential Building with
For Sale
$1,599,000
1405 Central Avenue, Alameda, CA 94501
Turnkey four-unit property with shared garden and one assigned parking space per unit.
Property Size3,247 SF
Price / SF$492.45
Days on Market117
Property Features for 1405 Central Avenue
General Information
Standard status
Active
Size
3,247 SF
Total Parking Spaces
4
Property subtype
Quadruplex
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
shared garden area
Building Details
Building Size
3,247 SF
Year Built
1905
Tenancy
Multi
Listing Agency:
Realty One Group Infinity
Listed By:
Pierre Malak, · License #01374262
(408) 807-3409
Source:
Annnewtoncane
Added: May 20
Changed: Sep 12
Last Checked: Sep 12 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 Realty One Group Infinity
Investment Insights
Based on property information with market context.
This turnkey four-unit residential income property includes 3,247 square feet of living space. The building offers a shared garden area in the back and one assigned parking space for each unit.
Located in Alameda on charming, tree-lined Central Avenue, residents have easy access to retail and restaurants and can walk to Franklin Park. The property is near highway 880, as well as bus lines and the ferry for commuting convenience.
The offering is also described as part of the Alameda Unified School District. Bike Score 84 and Walk Score 81 are noted in the property remarks.
Located in Alameda on charming, tree-lined Central Avenue, residents have easy access to retail and restaurants and can walk to Franklin Park. The property is near highway 880, as well as bus lines and the ferry for commuting convenience.
The offering is also described as part of the Alameda Unified School District. Bike Score 84 and Walk Score 81 are noted in the property remarks.
Key Highlights
- Turnkey 4‑unit property built in 1905 with 3,247 SF of living space
- Shared garden area located at the back of the building
- One assigned parking space per unit
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
$108,986
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
6.82%
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%
$2,179,720
$2.2M
Cap Rate 7%
$1,556,943
$1.6M
Cap Rate 9%
$1,210,956
$1.2M
Market Conditions
NOI Build-Up for 3,247 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
$165.6K $51.00/SF
− Vacancy
−$9.9K −$3.05/SF
EGI
$155.7K $47.95/SF
− OpEx
−$46.7K −$14.39/SF
NOI
$109.0K $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%
$2,179,720
Cap Rate 7%
$1,556,943
Cap Rate 9%
$1,210,956
Alternative Uses
Best Use
Multifamily LT 5
$1.56M
$1.36M – $1.82M
NOI $108,986 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$671.9K
$588.0K – $783.9K
NOI $47,036 @ 7.0% cap · market cap 2.94%
Theoretical Best
Retail
$14.80M
$12.95M – $17.27M
NOI $1,036,204 @ 7.0% cap · market cap 64.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 94501, CA
64,116
Population
27,117
Households
2.4
Avg Household Size
41
Median Age
58%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
8,015
Density / Sq Mi
$119,500
Median Household Income
$75,514
Median Earnings
$2,362
Median Rent
$1,213,100
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 - Turnkey four-unit property with shared garden and one assigned parking space per unit.
Where is this quadplex located?
The property is located at 1405 Central Avenue Alameda, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Turnkey 4‑unit property built in 1905 with 3,247 SF of living space; Shared garden area located at the back of the building; One assigned parking space per unit
