40-Unit Apartment
1461 163rd Ave, San Leandro, CA 94578
For Sale
New
$8,700,000
The site includes four residential buildings, a separate laundry structure, and a mix of studio, one-bedroom, and two-bedroom homes.
Property Size30,505 SF
Lot Size1.47 Acres
Days on Market2
Property Features for 1461 163rd Ave
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Cap Rate
Amenities
swimming pool
laundry facilities
leasing office
gated access
Well-maintained 40-unit garden apartment complex
Not subject to City of San Leandro Residential Rent Stabilization Ordinance
Mix of studio, one-bedroom, and two-bedroom apartments
Recent improvements including balcony/walkway repairs, new paint, parking lot resurface, and new landscaping
Less than one mile to Bay Fair BART station
Building Details
Building Size
Year Built
Buildings
Units
Construction
Listing Agency:
Marcus & Millichap
Listed By:
Carlos Azucena
(650) 391-1746
Source:
Marcusmillichap
Added: Nov 12
Last Checked: Nov 12 at 2:37PM
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 Marcus & Millichap
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Investment Insights
Based on property information with market context.
Built in 1978, this 40-unit apartment property comprises four two-story residential buildings and a separate single-story laundry building. The unit mix includes one studio at 625 square feet, 24 one-bedroom units at approximately 720 square feet each, and 15 two-bedroom units averaging 840 square feet. Residents have access to a pool, laundry facilities, a leasing office, gated entry, carports, and open surface parking. Recent work includes exterior painting, landscaping upgrades, parking lot sealing and striping, and balcony and walkway repairs required under SB 721.
The improvements occupy 1.47 acres, with a stated density of 27 units per acre. The property is outside the City of San Leandro Residential Rent Stabilization Ordinance.
The improvements occupy 1.47 acres, with a stated density of 27 units per acre. The property is outside the City of San Leandro Residential Rent Stabilization Ordinance.
Key Highlights
- 40 apartments across four two‑story residential buildings
- Unit mix: 1 studio at 625 square feet, 24 one‑bedroom units at approximately 720 square feet, and 15 two‑bedroom units averaging 840 square feet
- Built in 1978 on a 1.47‑acre site; stated density is 27 units per acre
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$441,898
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,837,960
$8.8M
Cap Rate 7%
$6,312,829
$6.3M
Cap Rate 9%
$4,909,978
$4.9M
Market Conditions
NOI Build-Up for 30,505 SF
Gross rent
$852.9K $27.96/SF
− Vacancy
−$49.5K −$1.62/SF
EGI
$803.5K $26.34/SF
− OpEx
−$361.6K −$11.85/SF
NOI
$441.9K $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 Rate 5%
$8,837,960
Cap Rate 7%
$6,312,829
Cap Rate 9%
$4,909,978
Alternative Uses
Best Use
Apartment 5plus
$6.31M
$5.52M – $7.36M
NOI $441,898 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$14.63M
$12.80M – $17.07M
NOI $1,023,905 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
40
Residential units
Location Intelligence
Trade Area within ½ mile
848
Businesses Nearby
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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
$793,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in San Leandro, CA
Properties on Market for Apartment buildings in San Leandro
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The site includes four residential buildings, a separate laundry structure, and a mix of studio, one-bedroom, and two-bedroom homes.
Where is this apartment building located?
The property is located at 1461 163rd Ave San Leandro, CA.
What is the asking price?
The asking price for this property is $8,700,000.
What are key features of this property?
This property features: 40 apartments across four two‑story residential buildings; Unit mix: 1 studio at 625 square feet, 24 one‑bedroom units at approximately 720 square feet, and 15 two‑bedroom units averaging 840 square feet; Built in 1978 on a 1.47‑acre site; stated density is 27 units per acre
