San Leandro Multifamily Investment
For Sale
$2,000,000
1888 Bancroft Avenue, San Leandro, CA 94577
Updated 5-unit apartment building in San Leandro's Assumption Parish.
Property Size4,902 SF
Price / SF$407
Days on Market491
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
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,011
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,420,220
$1.4M
Cap Rate 7%
$1,014,443
$1.0M
Cap Rate 9%
$789,011
$789.0K
Market Conditions
NOI Build-Up for 4,902 SF
Gross rent
$137.1K $27.96/SF
− Vacancy
−$7.9K −$1.62/SF
EGI
$129.1K $26.34/SF
− OpEx
−$58.1K −$11.85/SF
NOI
$71.0K $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%
$1,420,220
Cap Rate 7%
$1,014,443
Cap Rate 9%
$789,011
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,810
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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.
