6-Unit Apartment
New
For Sale
$2,480,000
14746 Martell Ave, San Leandro, CA 94578
The residential mix includes spacious two- and three-bedroom floor plans, with regional transit and road connections nearby.
Property Size6,242 SF
Lot Size0.21 Acres
Price / SF$397.31
Days on Market5
Property Features for 14746 Martell Ave
General Information
Standard status
Active
Size
6,242 SF
Lot size
0.21 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
6
Building Details
Year Built
1962
Listing Agency:
RE/MAX Accord
(510) 739-4000
Listed By:
Monica Li · License #2061184
(510) 676-6553
Source:
Exprealty
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 6:14AM
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 RE/MAX Accord
Investment Insights
Based on property information with market context.
This San Leandro apartment property contains six units with two- and three-bedroom layouts. Built in 1962, the building spans approximately 6,242 square feet on an approximately 9,354-square-foot lot.
At 14746 Martell Ave, the property is near E. 14th Street, I-580, I-880, the San Mateo-Hayward Bridge, and Bay Fair BART. Walk Score is 79, Bike Score is 83, and Transit Score is 56.
At 14746 Martell Ave, the property is near E. 14th Street, I-580, I-880, the San Mateo-Hayward Bridge, and Bay Fair BART. Walk Score is 79, Bike Score is 83, and Transit Score is 56.
Key Highlights
- Six apartments with two- and three‑bedroom floor plans
- Approximately 6,242 square feet of building area
- Approximately 9,354‑square‑foot lot
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
$90,422
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
3.65%
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%
$1,808,440
$1.8M
Cap Rate 7%
$1,291,743
$1.3M
Cap Rate 9%
$1,004,689
$1.0M
Market Conditions
NOI Build-Up for 6,242 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
$174.5K $27.96/SF
− Vacancy
−$10.1K −$1.62/SF
EGI
$164.4K $26.34/SF
− OpEx
−$74.0K −$11.85/SF
NOI
$90.4K $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 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%
$1,808,440
Cap Rate 7%
$1,291,743
Cap Rate 9%
$1,004,689
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,422 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$28.46M
$24.90M – $33.20M
NOI $1,991,988 @ 7.0% cap · market cap 80.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
Explore this area
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
Check the figures for this property
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?
Apartment building - The residential mix includes spacious two- and three-bedroom floor plans, with regional transit and road connections nearby.
Where is this apartment building located?
The property is located at 14746 Martell Ave San Leandro, CA.
What is the asking price?
The asking price for this property is $2,480,000.
What are key features of this property?
This property features: Six apartments with two- and three‑bedroom floor plans; Approximately 6,242 square feet of building area; Approximately 9,354‑square‑foot lot
