Quadplex Apartment
For Sale
$1,128,000
209 Dabner St, San Leandro, CA 94577
MULTI_FAMILY - San Leandro, CA
Property Size2,473 SF
Lot Size0.12 Acres
Price / SF$456.13
Days on Market151
Property Features for 209 Dabner St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 8, Bedroom 4, Bathroom 5, Bathroom 2, Bathroom 6, Bathroom 7, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 7, Bedroom 6
Parking features
Off Street, Parking Lot
Exterior features
Low Maintenance
Fireplace
1
Subdivision
Davis Tract
Lot features
Level
Standard status
Active
APN
751238
Size
2,473 SF
Lot size
0.12 Acres
Utilities
Heating system
Wall Furnace
Building Details
Year built
1920
Number of units
4
Flooring type
Laminate
Building materials
Concrete
Roof type
Shingle
Listing Agency:
Re/Max Accord · RE/MAX International
(925) 847-8900
Listed By:
Yannie Lau · License #01923312
(510) 206-1028
Added: Mar 17
Changed: Aug 6
Last Checked: Aug 14 at 2:06PM
MLS# 41125459
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Quadplex apartment property across three separate buildings, offering a four-unit residential layout with one unit currently vacant. The buildings are older and ready for modernization, supporting an investor or owner-occupant who wants to improve and reposition the property over time. Exterior features include low-maintenance materials, with concrete construction and shingle roofing. Interior finishes include laminate flooring, and heating is provided by wall furnaces. A fireplace is present. Off-street parking and a parking lot are included.
The property is located at 209 Dabner St in San Leandro, Alameda County, CA. It is described as being conveniently near downtown San Leandro shopping and dining, with easy access to Highway 580 and Highway 880 for commuter convenience.
Built in 1920 and listed with 2,473 square feet and a 0.1205-acre lot, this quadplex is offered for sale with an open house scheduled for 2:00 PM–4:00 PM on 04/18/2026 for UNIT B.
The property is located at 209 Dabner St in San Leandro, Alameda County, CA. It is described as being conveniently near downtown San Leandro shopping and dining, with easy access to Highway 580 and Highway 880 for commuter convenience.
Built in 1920 and listed with 2,473 square feet and a 0.1205-acre lot, this quadplex is offered for sale with an open house scheduled for 2:00 PM–4:00 PM on 04/18/2026 for UNIT B.
Key Highlights
- Four‑unit quadplex across three separate buildings with one unit currently vacant
- 2,473 SF quadplex on a 0.1205‑acre lot
- Built in 1920 with concrete construction and shingle 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
$83,007
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
7.36%
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%
$1,660,140
$1.7M
Cap Rate 7%
$1,185,814
$1.2M
Cap Rate 9%
$922,300
$922.3K
Market Conditions
NOI Build-Up for 2,473 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
$126.1K $51.00/SF
− Vacancy
−$7.5K −$3.05/SF
EGI
$118.6K $47.95/SF
− OpEx
−$35.6K −$14.39/SF
NOI
$83.0K $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 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%
$1,660,140
Cap Rate 7%
$1,185,814
Cap Rate 9%
$922,300
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.04M – $1.38M
NOI $83,007 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$511.8K
$447.8K – $597.1K
NOI $35,824 @ 7.0% cap · market cap 3.18%
Theoretical Best
Retail
$11.27M
$9.87M – $13.15M
NOI $789,200 @ 7.0% cap · market cap 69.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,112
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Older quadplex across three buildings with one vacant unit, off-street parking, and wall furnace heat.
Where is this quadplex located?
The property is located at 209 Dabner St San Leandro, CA.
What is the asking price?
The asking price for this property is $1,128,000.
What are key features of this property?
This property features: Four‑unit quadplex across three separate buildings with one unit currently vacant; 2,473 SF quadplex on a 0.1205‑acre lot; Built in 1920 with concrete construction and shingle roof
