Two-Unit Duplex with Bay
1940 Placer DR, San Leandro, CA 94578
For Sale
$898,888
Two separately addressed residences have individual gas and electric meters, with parking for six vehicles behind the building.
Property Size1,618 SF
Price / SF$555.56
Days on Market80
Property Features for 1940 Placer DR
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Year Built
Listing Agency:
Kapowich Real Estate
Listed By:
Pat Kapowich · License #00979413
(408) 245-7700
Source:
Balogproperties
Added: Aug 20
Changed: Nov 6
Last Checked: Nov 6 at 6:17AM
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 Kapowich Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1947, this 1,618-square-foot duplex contains two residences with separate postal addresses. The 1-bedroom, 1-bathroom unit has in-unit laundry. The other residence offers 2 bedrooms and 1 bathroom and is occupied by a long-term tenant. Gas and electricity are individually metered for each unit, and six off-street parking spaces sit behind the building.
Views of the bay and the San Francisco Peninsula are visible from both residences. The property is in San Leandro’s Hillcrest Knolls neighborhood, near major routes, shopping, and dining, and a short distance from downtown Castro Valley.
Views of the bay and the San Francisco Peninsula are visible from both residences. The property is in San Leandro’s Hillcrest Knolls neighborhood, near major routes, shopping, and dining, and a short distance from downtown Castro Valley.
Key Highlights
- Two residences: one 1‑bedroom, 1‑bathroom unit and one 2‑bedroom, 1‑bathroom unit
- Bay and San Francisco Peninsula views from both residences
- 1,618‑square‑foot duplex built in 1947
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,308
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,086,160
$1.1M
Cap Rate 7%
$775,829
$775.8K
Cap Rate 9%
$603,422
$603.4K
Market Conditions
NOI Build-Up for 1,618 SF
Gross rent
$82.5K $51.00/SF
− Vacancy
−$4.9K −$3.05/SF
EGI
$77.6K $47.95/SF
− OpEx
−$23.3K −$14.39/SF
NOI
$54.3K $33.57/SF
Area
Alameda County, CA
Vacancy
5.98%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,086,160
Cap Rate 7%
$775,829
Cap Rate 9%
$603,422
Alternative Uses
Best Use
Multifamily LT 5
$775.8K
$678.9K – $905.1K
NOI $54,308 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$334.8K
$293.0K – $390.6K
NOI $23,438 @ 7.0% cap · market cap 2.61%
Theoretical Best
Retail
$7.38M
$6.45M – $8.61M
NOI $516,347 @ 7.0% cap · market cap 57.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
676
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
$793,500
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Alameda County, CA
Properties on Market for Duplexes in Alameda County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately addressed residences have individual gas and electric meters, with parking for six vehicles behind the building.
Where is this duplex located?
The property is located at 1940 Placer DR San Leandro, CA.
What is the asking price?
The asking price for this property is $898,888.
What are key features of this property?
This property features: Two residences: one 1‑bedroom, 1‑bathroom unit and one 2‑bedroom, 1‑bathroom unit; Bay and San Francisco Peninsula views from both residences; 1,618‑square‑foot duplex built in 1947
