Four-Community Apartment
For Sale
$2,400,000
1524-1534 Willow Street, Martinez, CA 94553
Multifamily offering spanning established communities in San Mateo and Contra Costa Counties.
Property Size6,058 SF
Price / SF$396.17
Days on Market49
Property Features for 1524-1534 Willow Street
General Information
Standard status
Active
Size
6,058 SF
Property subtype
Multi-Family
Building Details
Year Built
1903
Listing Agency:
Colliers International
Listed By:
Readdress
(415) 275-0229
Source:
Readdress
Added: Aug 26
Changed: Oct 13
Last Checked: Oct 12 at 7:13PM
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 Colliers International
Investment Insights
Based on property information with market context.
This multifamily offering comprises four apartment communities with a combined 41 units. The assets are located in Millbrae, Redwood City, Martinez, and Concord, with individual properties ranging from 8 to 15 units. The portfolio may be acquired as a complete offering, by sub-portfolio, or as separate assets.
The San Mateo County properties include 472-480 Lincoln Circle in Millbrae and 1548 Hudson Street in Redwood City. Lincoln Circle is approximately one mile from Millbrae Intermodal Station, where BART connects with Caltrain. Hudson Street features the portfolio’s largest floor plans, averaging approximately 1,160 square feet per unit. The Contra Costa County properties are located in Concord and Martinez, including 3550 Chestnut Avenue, 1524-1534 Willow Street, and 1131 Warren Street.
The two Peninsula assets have in-place rents reported at 10.54% and 10.34% below market, respectively. The property record identifies 1524-1534 Willow Street in Martinez and a 1903 construction year.
The San Mateo County properties include 472-480 Lincoln Circle in Millbrae and 1548 Hudson Street in Redwood City. Lincoln Circle is approximately one mile from Millbrae Intermodal Station, where BART connects with Caltrain. Hudson Street features the portfolio’s largest floor plans, averaging approximately 1,160 square feet per unit. The Contra Costa County properties are located in Concord and Martinez, including 3550 Chestnut Avenue, 1524-1534 Willow Street, and 1131 Warren Street.
The two Peninsula assets have in-place rents reported at 10.54% and 10.34% below market, respectively. The property record identifies 1524-1534 Willow Street in Martinez and a 1903 construction year.
Key Highlights
- Four apartment communities totaling 41 units
- Individual assets range from 8 to 15 units
- Available as a complete portfolio, sub‑portfolios, or individual assets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,301
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,926,020
$1.9M
Cap Rate 7%
$1,375,729
$1.4M
Cap Rate 9%
$1,070,011
$1.1M
Market Conditions
NOI Build-Up for 6,058 SF
Gross rent
$183.9K $30.36/SF
− Vacancy
−$8.8K −$1.46/SF
EGI
$175.1K $28.90/SF
− OpEx
−$78.8K −$13.01/SF
NOI
$96.3K $15.90/SF
Area
Contra Costa County, CA
Vacancy
4.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,926,020
Cap Rate 7%
$1,375,729
Cap Rate 9%
$1,070,011
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.20M – $1.61M
NOI $96,301 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,295 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,161
Businesses Nearby
Explore this area
Business Placement
Demographics for 94553, CA
49,756
Population
19,626
Households
2.5
Avg Household Size
42
Median Age
42%
College-Educated
94%
High-School Grad
61.6 sq mi
ZIP Area
808
Density / Sq Mi
$121,023
Median Household Income
$70,337
Median Earnings
$2,247
Median Rent
$781,400
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 - Multifamily offering spanning established communities in San Mateo and Contra Costa Counties.
Where is this apartment building located?
The property is located at 1524-1534 Willow Street Martinez, CA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Four apartment communities totaling 41 units; Individual assets range from 8 to 15 units; Available as a complete portfolio, sub‑portfolios, or individual assets
