Six-Unit Apartment
For Sale
$3,499,000
1991 Bancroft Ave, San Leandro, CA 94577
Fully occupied six-unit building with coin-operated laundry, assigned off-street parking, and a ground-floor commercial space.
Property Size8,824 SF
Price / SF$396.53
Days on Market98
Property Features for 1991 Bancroft Ave
General Information
Standard status
Active
Size
8,824 SF
Property subtype
Multi Family
Building Details
Year Built
1955
Listing Agency:
Flat Rate Realty
(408) 627-0030
Listed By:
Harry Cordiano · License #01115795
(510) 506-8686
Source:
Exitrealty
Added: Jul 29
Changed: Oct 25
Last Checked: Oct 14 at 9:05PM
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 Flat Rate Realty
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Investment Insights
Based on property information with market context.
This fully occupied six-unit mixed-use property includes five residential units and one ground-floor commercial space. The residential mix consists of three 2-bedroom/1-bath apartments, one 4-bedroom/2-bath unit, and a detached 3-bedroom/2-bath single-family residence fronting 584 Warren Avenue. The ground-floor commercial space is occupied by an established business.
Additional amenities and operational features include assigned off-street parking and coin-operated laundry. Tenant utilities are separately metered for gas and electricity, and the property includes a work shop and garage. The building is identified as a prominent corner location.
Built in 1955, the property has had a roof replacement in 2024, with some units remodeled and/or upgraded.
Additional amenities and operational features include assigned off-street parking and coin-operated laundry. Tenant utilities are separately metered for gas and electricity, and the property includes a work shop and garage. The building is identified as a prominent corner location.
Built in 1955, the property has had a roof replacement in 2024, with some units remodeled and/or upgraded.
Key Highlights
- Fully occupied six‑unit mixed‑use property with five residential units and one ground‑floor commercial space
- Residential mix includes three 2‑bedroom/1‑bath apartments, one 4‑bedroom/2‑bath unit, and a detached 3‑bedroom/2‑bath residence
- Detached residence fronts 584 Warren Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,825
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,556,500
$2.6M
Cap Rate 7%
$1,826,071
$1.8M
Cap Rate 9%
$1,420,278
$1.4M
Market Conditions
NOI Build-Up for 8,824 SF
Gross rent
$246.7K $27.96/SF
− Vacancy
−$14.3K −$1.62/SF
EGI
$232.4K $26.34/SF
− OpEx
−$104.6K −$11.85/SF
NOI
$127.8K $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%
$2,556,500
Cap Rate 7%
$1,826,071
Cap Rate 9%
$1,420,278
Alternative Uses
Best Use
Retail
$40.23M
$35.20M – $46.93M
NOI $2,815,972 @ 7.0% cap · market cap 80.48%
Second Best
Apartment 5plus
$1.83M
$1.60M – $2.13M
NOI $127,825 @ 7.0% cap · market cap 3.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,810
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied six-unit building with coin-operated laundry, assigned off-street parking, and a ground-floor commercial space.
Where is this apartment building located?
The property is located at 1991 Bancroft Ave San Leandro, CA.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: Fully occupied six‑unit mixed‑use property with five residential units and one ground‑floor commercial space; Residential mix includes three 2‑bedroom/1‑bath apartments, one 4‑bedroom/2‑bath unit, and a detached 3‑bedroom/2‑bath residence; Detached residence fronts 584 Warren Avenue
