San Leandro Multifamily Investment
1888 Bancroft Avenue San Leandro, CA 94577
1888 Bancroft Avenue, San Leandro, CA, 94577
$2,000,000
For Sale
$2,000,000
Updated 5-unit apartment building in San Leandro's Assumption Parish.
Property Size4,902 SF
Price / SF$407
Days on Market400
Property Features for 1888 Bancroft Avenue
General Information
- Standard status
- Active
- Size
- 4,902 SF
Building Details
- Year Built
- 1971
Listing Agency
EXP REALTY OF CALIFORNIA
Listed by
JANET CHEUNG
Source
Corcoran
Added: Jun 14, 2025 Checked: Mar 16 at 9:09 am
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 EXP REALTY OF CALIFORNIA
Investment Insights
Based on property information with market context.
This well-maintained, updated five-unit apartment building is located in the Assumption Parish neighborhood of San Leandro, at the corner of Bancroft and Sybil. The complex is not a soft story building and features carports adjacent to the building. The unit mix includes one 3-bedroom/2-bathroom unit, three 2-bedroom/1-bathroom units, and one 1-bedroom/1-bathroom unit. One unit, currently owner-occupied, will be delivered vacant with new, all-electric appliances, available for immediate market-rate rental. Tenants are responsible for all utilities, resulting in low expenses for the owner. A coin-operated laundry facility on-site provides additional income. The property is within walking distance of schools, grocery stores, restaurants, and coffee shops, with multiple public transportation options nearby. The property size is 4902 square feet. This property is suitable for new, seasoned, and 1031 investors.
Key Highlights
- Five‑unit complex in the desirable Assumption Parish neighborhood of San Leandro.
- One unit delivered vacant with new appliances, ready for immediate market‑rate rental.
- Tenants pay all utilities, resulting in tremendously low expenses for the owner.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $137.1k | $27.96 |
| − Vacancy | −$7.9k | −$1.62 |
| EGI | $129.1k | $26.34 |
| − OpEx | −$58.1k | −$11.85 |
| NOI | $71.0k | $14.49 |
4,902 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$887.6K – $1.18M
NOI $71,011 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$22.35M
$19.55M – $26.07M
NOI $1,564,358 @ 7.0% cap · market cap 78.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Updated 5-unit apartment building in San Leandro's Assumption Parish.
Where is this apartment building located?
The property is located at 1888 Bancroft Avenue San Leandro, 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: Five‑unit complex in the desirable Assumption Parish neighborhood of San Leandro.; One unit delivered vacant with **new appliances, ready for immediate market‑rate rental.**; Tenants pay all utilities, resulting in tremendously low expenses for the owner.
