Renovated Multifamily Property For
185 Belleview Dr, San Leandro, CA 94577
For Sale
$1,650,000
Two renovated five-unit buildings available separately or together.
Property Size4,613 SF
Price / SF$357.68
Days on Market249
Property Features for 185 Belleview Dr
General Information
Standard status
Size
Property subtype
Amenities
Attached Garage
Corner
Enclosed
Gas Heating
Laundry Area - In Unit
Wall Furnace Heating
Building Details
Year Built
Listing Agency:
MARCUS & MILLICHAP
(510) 379-1200
Listed By:
JOSEPH OWENS
(925) 808-9098
Source:
Corcoran
Added: Mar 6
Changed: Aug 8
Last Checked: Aug 8 at 6:25AM
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 MARCUS & MILLICHAP
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Investment Insights
Based on property information with market context.
The property at 185 Belleview Drive is available for purchase either individually or as part of a combined offering with the property at 350 Lafayette. The building contains five units and is part of a grouping of two separate five-unit buildings totaling ten units. Constructed in 1943, the property underwent a complete renovation in 2016, with the building being stripped to the studs and fully remodeled. The units feature modern finishes, including quartz countertops, stainless steel appliances, updated kitchens and bathrooms, and in-unit washer/dryers. Garage parking is available, with two garages per property for select tenants. The building also received a new roof as part of the renovation, contributing to long-term durability and reduced maintenance costs. The property size is 4613 square feet.
Key Highlights
- Fully renovated in 2016, this property was stripped to the studs and completely remodeled.
- Option to purchase with adjacent 5‑unit building for a combined 10‑unit property.
- Modern finishes including quartz countertops, stainless steel appliances, and updated kitchens and bathrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,824
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,336,480
$1.3M
Cap Rate 7%
$954,629
$954.6K
Cap Rate 9%
$742,489
$742.5K
Market Conditions
NOI Build-Up for 4,613 SF
Gross rent
$129.0K $27.96/SF
− Vacancy
−$7.5K −$1.62/SF
EGI
$121.5K $26.34/SF
− OpEx
−$54.7K −$11.85/SF
NOI
$66.8K $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 Rate 5%
$1,336,480
Cap Rate 7%
$954,629
Cap Rate 9%
$742,489
Alternative Uses
Best Use
Apartment 5plus
$954.6K
$835.3K – $1.11M
NOI $66,824 @ 7.0% cap · market cap 4.05%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.21M
$1.94M – $2.58M
NOI $154,836 @ 7.0% cap · market cap 9.38%
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
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
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Business Placement
Demographics for 94577, CA
48,868
Population
17,681
Households
2.8
Avg Household Size
41
Median Age
39%
College-Educated
86%
High-School Grad
8.1 sq mi
ZIP Area
6,033
Density / Sq Mi
$110,989
Median Household Income
$56,382
Median Earnings
$2,199
Median Rent
$824,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in San Leandro, CA
Properties on Market for Apartment buildings in San Leandro
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two renovated five-unit buildings available separately or together.
Where is this apartment building located?
The property is located at 185 Belleview Dr San Leandro, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Fully renovated in 2016, this property was stripped to the studs and completely remodeled.; Option to purchase with adjacent 5‑unit building for a combined 10‑unit property.; Modern finishes including quartz countertops, stainless steel appliances, and updated kitchens and bathrooms.
