Updated Duplex with Private
For Sale
$688,000
Pending
226 Bristol, San Leandro, CA 94577
Residential Income, San Leandro, CA
Property Size1,323 SF
Lot Size0.11 Acres
Days on Market49
Property Features for 226 Bristol
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 2
Exterior features
Back Yard, Front Yard, Sprinklers Front, Landscape Front
Appliances
Dryer, Washer
Subdivision
Farrelly
Lot features
Level, Back Yard, Front Yard
Directions
International to Bristol.
Standard status
Pending
APN
7520411
Size
1,323 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Amenities
in-home laundry
Building Details
Year built
1943
Number of units
2
Flooring type
Wood, Vinyl
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Compass
(925) 251-1111
Listed By:
Christina Gray · License #02113801
(925) 998-1171
Added: Jul 9
Changed: Aug 24
Last Checked: Aug 26 at 12:06PM
MLS# 41141125
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 San Leandro duplex contains two separate residences totaling approximately 1,323 square feet on a 4,959-square-foot lot. Each unit includes one bedroom, one bathroom, in-home laundry, and a private garage for parking and storage. Living and dining areas connect with the kitchens in an open arrangement. Flooring includes wood in one residence and luxury vinyl plank in the other, with hardwood beneath the latter flooring. The property was built in 1943 and has wood siding, a composition roof, electric heating, public water, and public sewer.
Recent work includes interior and exterior painting, refreshed landscaping, and an updated sprinkler system. The property is located near shopping, dining, schools, public transportation, BART, I-580, and I-880, providing access to destinations throughout the Bay Area.
Recent work includes interior and exterior painting, refreshed landscaping, and an updated sprinkler system. The property is located near shopping, dining, schools, public transportation, BART, I-580, and I-880, providing access to destinations throughout the Bay Area.
Key Highlights
- Two 1‑bedroom, 1‑bathroom units with approximately 1,323 square feet of combined living space
- 4,959‑square‑foot lot, equal to 0.1138 acres
- Each residence has its own private garage
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
$44,407
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
6.45%
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%
$888,140
$888.1K
Cap Rate 7%
$634,386
$634.4K
Cap Rate 9%
$493,411
$493.4K
Market Conditions
NOI Build-Up for 1,323 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
$67.5K $51.00/SF
− Vacancy
−$4.0K −$3.05/SF
EGI
$63.4K $47.95/SF
− OpEx
−$19.0K −$14.39/SF
NOI
$44.4K $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%
$888,140
Cap Rate 7%
$634,386
Cap Rate 9%
$493,411
Alternative Uses
Best Use
Multifamily LT 5
$634.4K
$555.1K – $740.1K
NOI $44,407 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$273.8K
$239.6K – $319.4K
NOI $19,165 @ 7.0% cap · market cap 2.79%
Theoretical Best
Retail
$6.03M
$5.28M – $7.04M
NOI $422,204 @ 7.0% cap · market cap 61.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
909
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?
Duplex - Two residences offer in-unit laundry, separate garages, and convenient access to shopping, transit, and major commuter routes.
Where is this duplex located?
The property is located at 226 Bristol San Leandro, CA.
What is the asking price?
The asking price for this property is $688,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bathroom units with approximately 1,323 square feet of combined living space; 4,959‑square‑foot lot, equal to 0.1138 acres; Each residence has its own private garage
