24-Unit Apartment Building with
For Sale
$4,250,000
2001 Broadway Avenue, San Pablo, CA 94806
Newer-built 24-unit apartment building with private patios or balconies and a ground-floor amenity room.
Property Size18,711 SF
Lot Size0.70 Acres
Price / SF$227.14
Days on Market114
Property Features for 2001 Broadway Avenue
General Information
Standard status
Active
Size
18,711 SF
Lot size
0.70 Acres
Property subtype
Residential Income
Zoning
RMU
Additional Details
Highway Access
Yes
Sprinkler System
Yes
Multifamily Units
24
Amenities
fire sprinkler system
elevator
private patios/balconies/backyards
amenity room
Accessible Approach with Ramp, Accessible Elevator Installed
Electric
Elevator
Assigned
Building Details
Building Size
18,711 SF
Year Built
1993
Tenancy
Multi
Listing Agency:
Compass
(415) 345-3000
Listed By:
Ismael Benhamida · License #01722847
Source:
Evrealestate
Added: May 8
Changed: Aug 28
Last Checked: Aug 28 at 8:12AM
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 Compass
Investment Insights
Based on property information with market context.
Casa Linda Apartments is a 1993-built 24-unit multifamily property that was originally developed as senior housing. The building includes a full fire sprinkler system, elevator access, and a tile roof. Each unit offers private outdoor space, including patios, balconies, or backyards. A large ground-floor amenity room provides flexible space for tenant-focused uses, and it may be considered for conversion into an additional accessory dwelling unit (ADU), subject to buyer verification and local approvals.
The property is located on a 30,675 square foot lot at 2001 Broadway Ave in San Pablo, in western Contra Costa County. The surrounding area provides convenient access to major Bay Area employment and education centers and offers regional connectivity via nearby Richmond BART, AC Transit bus service, and Amtrak Richmond Station, with immediate access to Interstates 80 and 580.
For operations and revenue enhancement, the property presents multiple pathways, including potential expansion of laundry facilities, implementation of a Ratio Utility Billing System (RUBS), selective interior renovations, and targeted exterior upgrades. Additional upside may also be available through potential ADU development and amenity enhancements, subject to approvals.
The property is located on a 30,675 square foot lot at 2001 Broadway Ave in San Pablo, in western Contra Costa County. The surrounding area provides convenient access to major Bay Area employment and education centers and offers regional connectivity via nearby Richmond BART, AC Transit bus service, and Amtrak Richmond Station, with immediate access to Interstates 80 and 580.
For operations and revenue enhancement, the property presents multiple pathways, including potential expansion of laundry facilities, implementation of a Ratio Utility Billing System (RUBS), selective interior renovations, and targeted exterior upgrades. Additional upside may also be available through potential ADU development and amenity enhancements, subject to approvals.
Key Highlights
- 24‑unit multifamily building built in 1993 on a 30,675 SF lot
- 18,711 SF building previously used as a senior housing facility; currently operated as market rate apartments for the last 25 years
- Full fire sprinkler system, elevator access, and tile roof
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$297,439
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,948,780
$5.9M
Cap Rate 7%
$4,249,129
$4.2M
Cap Rate 9%
$3,304,878
$3.3M
Market Conditions
NOI Build-Up for 18,711 SF
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.
Gross rent
$568.1K $30.36/SF
− Vacancy
−$27.3K −$1.46/SF
EGI
$540.8K $28.90/SF
− OpEx
−$243.4K −$13.01/SF
NOI
$297.4K $15.90/SF
Area
Contra Costa County, CA
Vacancy
4.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,948,780
Cap Rate 7%
$4,249,129
Cap Rate 9%
$3,304,878
Alternative Uses
Best Use
Apartment 5plus
$4.25M
$3.72M – $4.96M
NOI $297,439 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.07M
$6.19M – $8.25M
NOI $495,093 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24
Residential units
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Explore this area
Business Placement
Demographics for 94806, CA
64,589
Population
21,360
Households
3
Avg Household Size
36
Median Age
23%
College-Educated
79%
High-School Grad
7.9 sq mi
ZIP Area
8,176
Density / Sq Mi
$82,818
Median Household Income
$43,355
Median Earnings
$2,013
Median Rent
$582,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Newer-built 24-unit apartment building with private patios or balconies and a ground-floor amenity room.
Where is this apartment building located?
The property is located at 2001 Broadway Avenue San Pablo, CA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 24‑unit multifamily building built in 1993 on a 30,675 SF lot; 18,711 SF building previously used as a senior housing facility; currently operated as market rate apartments for the last 25 years; Full fire sprinkler system, elevator access, and tile roof
