San Lorenzo 7-Unit Apartment
For Sale
$2,000,000
15609 Ronda St, San Lorenzo, CA 94580
Well-maintained 7-unit apartment complex in central San Lorenzo.
Property Size4,578 SF
Price / SF$436.87
Days on Market331
Property Features for 15609 Ronda St
General Information
Standard status
Active
Size
4,578 SF
Property subtype
Commercial
Amenities
1 Parking Space/Unit
In Laundry Room
Laundry Facility - Coin-Op
Level
Vinyl Flooring
Wall Furnace Heating
Wall to Wall Carpet Flooring
Washer/Dryer - Owned
Building Details
Year Built
1962
Listing Agency:
COMPASS
(510) 254-3831
Listed By:
BRYSEN SCHUMACHER
(925) 444-4300
Source:
Corcoran
Added: Oct 10, 2025
Changed: Aug 21
Last Checked: Sep 4 at 9:36AM
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 COMPASS
Investment Insights
Based on property information with market context.
This well-maintained 7-unit apartment complex is located in the center of San Lorenzo, providing tenants with convenient access to BART, major freeways, public transportation, and shopping centers. The property features two 2-bedroom, 1-bath units with spacious kitchens and dedicated dining areas. The remaining five units are 1-bedroom, 1-bath units with efficient layouts. Interior finishes include a mix of carpet and durable vinyl flooring. Each unit includes assigned parking. The property also offers two single-car garages, currently used by the owners but available to rent for additional income. A shared on-site laundry facility provides added convenience for residents and another potential revenue stream. The property size is 4578 square feet.
Key Highlights
- Prime location in San Lorenzo with easy access to BART, freeways, public transportation, and shopping centers.
- Seven‑unit apartment complex with a mix of two 2‑bedroom/1‑bath and five 1‑bedroom/1‑bath units.
- Strong rental history in a stable Bay Area rental market.
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
$66,317
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%
$1,326,340
$1.3M
Cap Rate 7%
$947,386
$947.4K
Cap Rate 9%
$736,856
$736.9K
Market Conditions
NOI Build-Up for 4,578 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
$128.0K $27.96/SF
− Vacancy
−$7.4K −$1.62/SF
EGI
$120.6K $26.34/SF
− OpEx
−$54.3K −$11.85/SF
NOI
$66.3K $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%
$1,326,340
Cap Rate 7%
$947,386
Cap Rate 9%
$736,856
Alternative Uses
Best Use
Apartment 5plus
$947.4K
$829.0K – $1.11M
NOI $66,317 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$20.87M
$18.26M – $24.35M
NOI $1,460,961 @ 7.0% cap · market cap 73.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
Explore this area
Business Placement
Demographics for 94580, CA
29,590
Population
9,067
Households
3.3
Avg Household Size
39
Median Age
26%
College-Educated
83%
High-School Grad
3.3 sq mi
ZIP Area
8,967
Density / Sq Mi
$110,106
Median Household Income
$52,790
Median Earnings
$2,164
Median Rent
$820,100
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 - Well-maintained 7-unit apartment complex in central San Lorenzo.
Where is this apartment building located?
The property is located at 15609 Ronda St San Lorenzo, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Prime location in San Lorenzo with easy access to BART, freeways, public transportation, and shopping centers.; Seven‑unit apartment complex with a mix of two 2‑bedroom/1‑bath and five 1‑bedroom/1‑bath units.; Strong rental history in a stable Bay Area rental market.
