Four-Unit
New
For Sale
$1,599,000
2305 San Jose Ave, Alameda, CA 94501
Two duplex structures create a flexible four-unit residential income configuration.
Property Size2,538 SF
Price / SF$630.02
Days on Market4
Property Features for 2305 San Jose Ave
General Information
Standard status
Active
Size
2,538 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1935
Listing Agency:
Platinum Realty & Invstmnts
(510) 502-2288
Listed By:
Kyle Chuah · License #01400170
(510) 502-2288
Source:
Exitrealty
Added: Aug 18
Changed: Aug 20
Last Checked: Aug 20 at 4:49AM
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 Platinum Realty & Invstmnts
Investment Insights
Based on property information with market context.
This 2,538-square-foot quadplex was built in 1935 and is arranged as two duplexes, creating four residential units within one property. The asset sits on a large lot at 2305 San Jose Ave in Alameda, offering a multi-unit configuration suitable for residential income ownership or an owner-occupied arrangement.
The property is near restaurants, a movie theater, pubs, ice cream shops, the beach, and South Shore shopping. Walk Score is 93, while the Bike Score is reported at 75-78. The setting is in Alameda, with mostly flat terrain surrounding the property.
The property is near restaurants, a movie theater, pubs, ice cream shops, the beach, and South Shore shopping. Walk Score is 93, while the Bike Score is reported at 75-78. The setting is in Alameda, with mostly flat terrain surrounding the property.
Key Highlights
- Four‑unit property configured as two duplexes
- 2,538 square feet of property size
- Built in 1935
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
$85,188
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
5.33%
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%
$1,703,760
$1.7M
Cap Rate 7%
$1,216,971
$1.2M
Cap Rate 9%
$946,533
$946.5K
Market Conditions
NOI Build-Up for 2,538 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
$129.4K $51.00/SF
− Vacancy
−$7.7K −$3.05/SF
EGI
$121.7K $47.95/SF
− OpEx
−$36.5K −$14.39/SF
NOI
$85.2K $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%
$1,703,760
Cap Rate 7%
$1,216,971
Cap Rate 9%
$946,533
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.06M – $1.42M
NOI $85,188 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$525.2K
$459.6K – $612.8K
NOI $36,766 @ 7.0% cap · market cap 2.30%
Theoretical Best
Retail
$11.57M
$10.12M – $13.50M
NOI $809,943 @ 7.0% cap · market cap 50.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,713
Businesses Nearby
Explore this area
Business Placement
Demographics for 94501, CA
64,116
Population
27,117
Households
2.4
Avg Household Size
41
Median Age
58%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
8,015
Density / Sq Mi
$119,500
Median Household Income
$75,514
Median Earnings
$2,362
Median Rent
$1,213,100
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 - Two duplex structures create a flexible four-unit residential income configuration.
Where is this quadplex located?
The property is located at 2305 San Jose Ave Alameda, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Four‑unit property configured as two duplexes; 2,538 square feet of property size; Built in 1935
