Four-Unit Property with Covered
For Sale
$1,228,888
2180 Clarke St, San Leandro, CA 94577
The 1968-built property offers covered parking, garage space, and access to BART, shopping, and freeways.
Property Size3,177 SF
Price / SF$386.81
Days on Market9
Property Features for 2180 Clarke St
General Information
Standard status
Active
Size
3,177 SF
Total Parking Spaces
6
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1968
Listing Agency:
Kenneth A. Kremer, Broker
(510) 881-7000
Listed By:
Kenneth Kremer · License #00550782
(510) 301-1957
Source:
Exitrealty
Added: Sep 4
Changed: Sep 10
Last Checked: Sep 12 at 6:40AM
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 Kenneth A. Kremer, Broker
Investment Insights
Based on property information with market context.
Built in 1968, this quadplex contains 3,174 square feet across four residential units. Parking includes a 4-car carport and a 2-car garage. Three of the four tenants are identified as long-term occupants.
The property is located at 2180 Clarke St in San Leandro, with access to BART, shopping, and nearby freeways. Its walk score is 81, categorized as Very Walkable. The bike score is 55, classified as Bikeable, and the transit score is 35, classified as Some Transit.
The property is located at 2180 Clarke St in San Leandro, with access to BART, shopping, and nearby freeways. Its walk score is 81, categorized as Very Walkable. The bike score is 55, classified as Bikeable, and the transit score is 35, classified as Some Transit.
Key Highlights
- Four‑unit quadplex with 3,174 sf of building area
- Built in 1968
- 4‑car carport
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
$106,636
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
8.68%
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%
$2,132,720
$2.1M
Cap Rate 7%
$1,523,371
$1.5M
Cap Rate 9%
$1,184,844
$1.2M
Market Conditions
NOI Build-Up for 3,177 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
$162.0K $51.00/SF
− Vacancy
−$9.7K −$3.05/SF
EGI
$152.3K $47.95/SF
− OpEx
−$45.7K −$14.39/SF
NOI
$106.6K $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%
$2,132,720
Cap Rate 7%
$1,523,371
Cap Rate 9%
$1,184,844
Alternative Uses
Best Use
Multifamily LT 5
$1.52M
$1.33M – $1.78M
NOI $106,636 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$657.5K
$575.3K – $767.0K
NOI $46,022 @ 7.0% cap · market cap 3.75%
Theoretical Best
Retail
$14.48M
$12.67M – $16.90M
NOI $1,013,865 @ 7.0% cap · market cap 82.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,789
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - The 1968-built property offers covered parking, garage space, and access to BART, shopping, and freeways.
Where is this quadplex located?
The property is located at 2180 Clarke St San Leandro, CA.
What is the asking price?
The asking price for this property is $1,228,888.
What are key features of this property?
This property features: Four‑unit quadplex with 3,174 sf of building area; Built in 1968; 4‑car carport
