5-Unit Apartment Property with
For Sale
$2,395,000
1523 Verdi St, Alameda, CA 94501
Commercial Sale, Alameda, CA
Property Size5,493 SF
Lot Size0.17 Acres
Price / SF$436.01
Days on Market358
Property Features for 1523 Verdi St
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
6
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 6, Bedroom 4, Bathroom 5, Bathroom 6, Bathroom 1, Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 4, Bathroom 7, Bedroom 2, Bathroom 3, Bedroom 1
Parking features
Assigned, Garage, On Street
Subdivision
Alameda
Lot features
Level, Rectangular Lot, Front Yard, Garden, Landscaped
Directions
Webster St - Lincoln Ave - Ver
Standard status
Active
APN
7338912
Size
5,493 SF
Lot size
0.17 Acres
Utilities
Heating system
Zoned
Water source
Public
Amenities
coin-operated laundry
storage area
mailboxes
Building Details
Year built
1890
Number of units
6
Flooring type
Vinyl, Tile, Hardwood, Carpet
Building materials
Vinyl Siding, Wood Siding
Roof type
Composition
Listing Agency:
Keller Williams Tri-Valley · Keller Williams Realty
(925) 397-4200
Listed By:
Jason Pugao · License #01908325
(510) 472-6916
Added: Sep 3, 2025
Changed: Aug 24
Last Checked: Aug 26 at 11:06AM
MLS# 41110185
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 5,493-square-foot multifamily property contains five units plus a permitted ADU on a 0.1747-acre parcel. Built in 1890, the front structure is a Victorian-style building with four units, while the rear residences at 1525 and 1527 Verdi include individual garages. The property also offers assigned and on-street parking, public water, zoned heating, and coin-operated laundry. One unit, 1527 Verdi, is currently vacant.
Capital improvements include a new concrete foundation, tankless water heater, exterior paint, renovated storage area, new mailboxes, and a new deck and roof above 1527. Several interiors have also been renovated. The property is located near HWY 880, BART, bus lines, and the ferry, with access to multiple transportation options in the surrounding area.
Capital improvements include a new concrete foundation, tankless water heater, exterior paint, renovated storage area, new mailboxes, and a new deck and roof above 1527. Several interiors have also been renovated. The property is located near HWY 880, BART, bus lines, and the ferry, with access to multiple transportation options in the surrounding area.
Key Highlights
- Five units plus a permitted ADU
- 5,493 SF multifamily property on 0.1747 acres
- 1890 construction with Victorian‑style front building
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
$79,572
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
3.32%
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%
$1,591,440
$1.6M
Cap Rate 7%
$1,136,743
$1.1M
Cap Rate 9%
$884,133
$884.1K
Market Conditions
NOI Build-Up for 5,493 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
$153.6K $27.96/SF
− Vacancy
−$8.9K −$1.62/SF
EGI
$144.7K $26.34/SF
− OpEx
−$65.1K −$11.85/SF
NOI
$79.6K $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%
$1,591,440
Cap Rate 7%
$1,136,743
Cap Rate 9%
$884,133
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$994.7K – $1.33M
NOI $79,572 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$25.04M
$21.91M – $29.22M
NOI $1,752,962 @ 7.0% cap · market cap 73.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,147
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Historic multifamily asset with a permitted ADU, garages, and coin-operated laundry.
Where is this apartment building located?
The property is located at 1523 Verdi St Alameda, CA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Five units plus a permitted ADU; 5,493 SF multifamily property on 0.1747 acres; 1890 construction with Victorian‑style front building
