Income Duplex with Separate
405 Lewis Ave San Leandro, CA 94577
For Sale
$984,000
Duplex built in 1987 with two one-car garages, private yards, inside laundry, and recent unit improvements.
Property Size2,163 SF
Price / SF$454.92
Days on Market10
Property Features for 405 Lewis Ave
General Information
Standard status
Active
Size
2,163 SF
Property subtype
Multi Family
Building Details
Year Built
1987
Listing Agency:
RE/MAX Accord
(925) 918-3395
Listed By:
Jeff Clyma · License #00627099
(925) 918-3395
Source:
Exitrealty
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 28 at 7:30AM
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 RE/MAX Accord
Investment Insights
Based on property information with market context.
This duplex was built in 1987 and is configured as two separate residential units. Each unit includes its own one-car garage and a dedicated yard area, along with an inside laundry area and a cozy fireplace. Kitchens feature granite or quartz countertop surfaces, and both units have recently received improvements.
The property is located near downtown San Leandro, with convenient access to shopping, dining, and transit.
Additional reported updates include new furnaces installed with permits and freshly painted interiors. The layout and condition support an income-focused ownership with tenants already in place.
The property is located near downtown San Leandro, with convenient access to shopping, dining, and transit.
Additional reported updates include new furnaces installed with permits and freshly painted interiors. The layout and condition support an income-focused ownership with tenants already in place.
Key Highlights
- Duplex built in 1987 with two units that have been steadily rented
- Recent unit improvements including new furnaces installed with permits
- Each unit has its own one‑car garage and private yard area
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $110.3k | $51.00 |
| − Vacancy | −$6.6k | −$3.05 |
| EGI | $103.7k | $47.95 |
| − OpEx | −$31.1k | −$14.39 |
| NOI | $72.6k | $33.57 |
2,163 SF · lease $51.00/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$907.5K – $1.21M
NOI $72,601 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$447.6K
$391.7K – $522.2K
NOI $31,333 @ 7.0% cap · market cap 3.18%
Theoretical Best
Retail
$9.86M
$8.63M – $11.50M
NOI $690,271 @ 7.0% cap · market cap 70.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex built in 1987 with two one-car garages, private yards, inside laundry, and recent unit improvements.
Where is this duplex located?
The property is located at 405 Lewis Ave San Leandro, CA.
What is the asking price?
The asking price for this property is $984,000.
What are key features of this property?
This property features: Duplex built in 1987 with two units that have been steadily rented; Recent unit improvements including new furnaces installed with permits; Each unit has its own one‑car garage and private yard area
