Four-Unit Apartment
New
For Sale
$990,000
209 Dabner St, San Leandro, CA 94577
Residential Income, San Leandro, CA
Property Size2,473 SF
Lot Size0.12 Acres
Price / SF$400.32
Days on Market5
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 4, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 2, Bathroom 4, Bedroom 7, Bedroom 8, Bedroom 2, Bathroom 3, Bathroom 6, Bathroom 5, Bathroom 7, Bedroom 3, Bathroom 1
Parking features
Off Street, Parking Lot
Exterior features
Low Maintenance
Fireplace
1
Subdivision
Davis Tract
Lot features
Level
Directions
David Street to Dabner Street
Standard status
Active
APN
751238
Size
2,473 SF
Lot size
0.12 Acres
Utilities
Sewer type
Public Sewer
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: Sep 28
Changed: Oct 1
Last Checked: Oct 2 at 6:06PM
MLS# 41149692
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.
This 2,473-square-foot apartment property contains four units across three separate buildings on a 0.1205-acre lot. One unit has been remodeled; the remaining units are older and may require modernization. The property was built in 1920 and includes concrete construction, laminate flooring, wall furnaces, and a fireplace. Parking is available in a lot and off street, and the site is served by public sewer.
Shopping, dining, and everyday services near downtown San Leandro are accessible from the property. Highway access includes 580 and 880.
Shopping, dining, and everyday services near downtown San Leandro are accessible from the property. Highway access includes 580 and 880.
Key Highlights
- Four apartment units across three separate buildings
- 2,473 square feet on a 0.1205‑acre lot
- One unit recently remodeled; remaining units are older
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
8.38%
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 8.38%
Second Best
Apartment 5plus
$511.8K
$447.8K – $597.1K
NOI $35,824 @ 7.0% cap · market cap 3.62%
Theoretical Best
Retail
$11.27M
$9.87M – $13.15M
NOI $789,200 @ 7.0% cap · market cap 79.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The four residences are distributed across three buildings, with one unit recently remodeled.
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 $990,000.
What are key features of this property?
This property features: Four apartment units across three separate buildings; 2,473 square feet on a 0.1205‑acre lot; One unit recently remodeled; remaining units are older
