Residential Income Property with
New
For Sale
$1,450,000
1578 166Th Ave, San Leandro, CA 94578
The property includes storage, laundry appliances, and covered off-street parking.
Property Size3,150 SF
Price / SF$460.32
Days on Market2
Property Features for 1578 166Th Ave
General Information
Standard status
Active
Size
3,150 SF
Property subtype
Residential Income
Amenities
Electric, Wall Furnace
Dryer, Washer, Gas Water Heater, Tankless Water Heater
Storage
Covered, Off Street, Parking Lot
Building Details
Building Size
3,150 SF
Year Built
1963
Listed By:
Joe Abreu
(510) 915-8339
Source:
Evrealestate
Added: Oct 1
Last Checked: Oct 1 at 2:06PM
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 Joe Abreu
Investment Insights
Based on property information with market context.
Built in 1963, this residential income property contains 3,150 square feet and includes storage, a washer and dryer, and electric wall-furnace heating. Covered and off-street parking is provided in a parking lot.
The property is located at 1578 166th Ave in San Leandro, Alameda County.
The property is located at 1578 166th Ave in San Leandro, Alameda County.
Key Highlights
- 3,150 square feet
- Built in 1963
- Covered and off‑street parking in a parking 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
$45,631
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
3.15%
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%
$912,620
$912.6K
Cap Rate 7%
$651,871
$651.9K
Cap Rate 9%
$507,011
$507.0K
Market Conditions
NOI Build-Up for 3,150 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
$88.1K $27.96/SF
− Vacancy
−$5.1K −$1.62/SF
EGI
$83.0K $26.34/SF
− OpEx
−$37.3K −$11.85/SF
NOI
$45.6K $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%
$912,620
Cap Rate 7%
$651,871
Cap Rate 9%
$507,011
Alternative Uses
Best Use
Apartment 5plus
$651.9K
$570.4K – $760.5K
NOI $45,631 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$14.36M
$12.57M – $16.75M
NOI $1,005,248 @ 7.0% cap · market cap 69.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
689
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The property includes storage, laundry appliances, and covered off-street parking.
Where is this residential income property located?
The property is located at 1578 166Th Ave San Leandro, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 3,150 square feet; Built in 1963; Covered and off‑street parking in a parking lot
