Two-Bedroom Apartment
For Sale
$5,795,000
Pending
1640 23rd St, San Pablo, CA 94806
Apartments feature private patios or balconies, laundry hookups, and gated covered parking.
Property Size17,832 SF
Days on Market132
Property Features for 1640 23rd St
General Information
Standard status
Pending
Size
17,832 SF
Property subtype
5 or More Units
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Unit Mix
2BR/2BA
Amenities
in-unit laundry hookups
forced-air heating
dishwashers
private patios/balconies
gated covered parking
Building Details
Year Built
1984
Listing Agency:
NAI Northern California
Listed By:
Ethan Berger · License #CA 01868467
(925) 588-9740
Source:
Jpnrealty
Added: Jun 23
Changed: Nov 1
Last Checked: Nov 1 at 3:26AM
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 NAI Northern California
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Investment Insights
Based on property information with market context.
This San Pablo multifamily property, built in 1984, offers apartments with two bedrooms and two bathrooms. Interior features include in-unit laundry hookups, forced-air heat, dishwashers, and private patios or balconies. The property also has gated, covered parking. Recent work includes new siding and trim, exterior painting, landscaping, and apartment updates to kitchens, bathrooms, flooring, lighting, appliances, and windows.
The property is near Richmond BART, Contra Costa College, I-80, and East Bay employment centers. Its corner-lot position is another documented site feature.
The property is near Richmond BART, Contra Costa College, I-80, and East Bay employment centers. Its corner-lot position is another documented site feature.
Key Highlights
- Two‑bedroom, two‑bathroom apartment layout
- Built in 1984
- Apartments include laundry hookups, forced‑air heat, dishwashers, and private patios or balconies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$283,466
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,669,320
$5.7M
Cap Rate 7%
$4,049,514
$4.0M
Cap Rate 9%
$3,149,622
$3.1M
Market Conditions
NOI Build-Up for 17,832 SF
Gross rent
$541.4K $30.36/SF
− Vacancy
−$26.0K −$1.46/SF
EGI
$515.4K $28.90/SF
− OpEx
−$231.9K −$13.01/SF
NOI
$283.5K $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%
$5,669,320
Cap Rate 7%
$4,049,514
Cap Rate 9%
$3,149,622
Alternative Uses
Best Use
Apartment 5plus
$4.05M
$3.54M – $4.72M
NOI $283,466 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.74M
$5.90M – $7.86M
NOI $471,835 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 94806, CA
64,589
Population
21,360
Households
3
Avg Household Size
36
Median Age
23%
College-Educated
79%
High-School Grad
7.9 sq mi
ZIP Area
8,176
Density / Sq Mi
$82,818
Median Household Income
$43,355
Median Earnings
$2,013
Median Rent
$582,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartments feature private patios or balconies, laundry hookups, and gated covered parking.
Where is this apartment building located?
The property is located at 1640 23rd St San Pablo, CA.
What is the asking price?
The asking price for this property is $5,795,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom apartment layout; Built in 1984; Apartments include laundry hookups, forced‑air heat, dishwashers, and private patios or balconies
