San Leandro Multifamily Investment
For Sale
$3,499,999
236 Haas Ave, San Leandro, CA 94577
12-unit complex in a central San Leandro location.
Property Size12,900 SF
Price / SF$271.32
Days on Market151
Property Features for 236 Haas Ave
General Information
Standard status
Active
Size
12,900 SF
Property subtype
Commercial
Amenities
Central air
Dryer
Washer
Assigned Spaces
Ceiling Fan Cooling
Community Facility
Hardwood Flooring
In Laundry Room
Laundry Facility - Coin-Op
Level
Linoleum Flooring
Off-Site Parking
Wall Furnace Heating
Wall to Wall Carpet Flooring
Building Details
Year Built
1960
Listing Agency:
FOHL REALTY & INVESTMENTS
(510) 728-8610
Listed By:
CARMEN HERNANDEZ
Source:
Corcoran
Added: Mar 20
Changed: Aug 12
Last Checked: Aug 16 at 5:54AM
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 FOHL REALTY & INVESTMENTS
Investment Insights
Based on property information with market context.
This 12-unit complex is located in an established neighborhood near Estudillo Estates in San Leandro. The property features a unit mix of ten 2-bedroom units and two 1-bedroom units, along with shared laundry facilities. Situated in a central location, the complex is near restaurants, shopping, transportation options, hospitals, and schools. This property offers appeal for tenants and presents an opportunity for investors seeking stable income potential in a convenient location. The property size is 12900 square feet.
Key Highlights
- 12‑unit complex with a desirable mix of ten 2‑bedroom units and two 1‑bedroom units.
- Centrally located in an established San Leandro neighborhood near Estudillo Estates.
- Strong appeal for tenants, offering stable income potential for investors.
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
$186,870
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
5.34%
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%
$3,737,400
$3.7M
Cap Rate 7%
$2,669,571
$2.7M
Cap Rate 9%
$2,076,333
$2.1M
Market Conditions
NOI Build-Up for 12,900 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
$360.7K $27.96/SF
− Vacancy
−$20.9K −$1.62/SF
EGI
$339.8K $26.34/SF
− OpEx
−$152.9K −$11.85/SF
NOI
$186.9K $14.49/SF
Area
Alameda County, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
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%
$3,737,400
Cap Rate 7%
$2,669,571
Cap Rate 9%
$2,076,333
Alternative Uses
Best Use
Apartment 5plus
$2.67M
$2.34M – $3.11M
NOI $186,870 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$58.81M
$51.46M – $68.61M
NOI $4,116,732 @ 7.0% cap · market cap 117.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,927
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 12-unit complex in a central San Leandro location.
Where is this apartment building located?
The property is located at 236 Haas Ave San Leandro, CA.
What is the asking price?
The asking price for this property is $3,499,999.
What are key features of this property?
This property features: 12‑unit complex with a desirable mix of ten 2‑bedroom units and two 1‑bedroom units.; Centrally located in an established San Leandro neighborhood near Estudillo Estates.; Strong appeal for tenants, offering stable income potential for investors.
