Two-Story Quadplex With Covered
New
For Sale
$2,448,800
43677 Ellsworth St, Fremont, CA 94539
Four two-bedroom residences offer in-unit laundry and updated finishes in select units.
Property Size3,746 SF
Lot Size0.17 Acres
Price / SF$653.71
Days on Market5
Property Features for 43677 Ellsworth St
General Information
Standard status
Active
Size
3,746 SF
Lot size
0.17 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Amenities
in-unit laundry
Building Details
Year Built
1973
Listing Agency:
Coldwell Banker Realty
(510) 608-7600
Listed By:
Lester Belliveau · License #00997558
(510) 676-7900
Source:
Exitrealty
Added: Aug 30
Changed: Sep 2
Last Checked: Sep 2 at 2:10PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 3,746-square-foot quadplex contains four two-bedroom, one-and-a-half-bath residences on an approximately 7,500-square-foot lot. Each unit uses a two-level layout, with living space, a kitchen, a half bath, and in-unit laundry on the ground floor, followed by two bedrooms and a full bath upstairs. Units 1 and 2 include laminate flooring, remodeled kitchens with shaker cabinetry, subway tile backsplashes, stainless steel appliances, and refreshed bathrooms; Unit 1 also has fresh interior paint. The property was built in 1973.
Parking includes four covered carport spaces along with additional uncovered spaces. The property is located in Fremont’s Mission San Jose neighborhood, near local schools, Ohlone College, Mission Peak Regional Preserve, shopping, dining, and daily services. Regional access includes BART, I-680, and I-880, with major Silicon Valley employers also identified in the surrounding context.
Parking includes four covered carport spaces along with additional uncovered spaces. The property is located in Fremont’s Mission San Jose neighborhood, near local schools, Ohlone College, Mission Peak Regional Preserve, shopping, dining, and daily services. Regional access includes BART, I-680, and I-880, with major Silicon Valley employers also identified in the surrounding context.
Key Highlights
- Four 2‑bedroom, 1.5‑bath units in a quadplex configuration
- Approximately 3,746 SF building on a 7,500± SF lot
- Two‑story layouts with in‑unit laundry
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
$76,885
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
3.14%
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%
$1,537,700
$1.5M
Cap Rate 7%
$1,098,357
$1.1M
Cap Rate 9%
$854,278
$854.3K
Market Conditions
NOI Build-Up for 3,746 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
$114.6K $30.60/SF
− Vacancy
−$4.8K −$1.28/SF
EGI
$109.8K $29.32/SF
− OpEx
−$33.0K −$8.80/SF
NOI
$76.9K $20.52/SF
Area
Fremont, CA
Vacancy
4.18%
Lease Rate
$30.60 /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%
$1,537,700
Cap Rate 7%
$1,098,357
Cap Rate 9%
$854,278
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$961.1K – $1.28M
NOI $76,885 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$955.6K
$836.1K – $1.11M
NOI $66,889 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,312 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 94539, CA
54,026
Population
17,669
Households
3.1
Avg Household Size
42
Median Age
79%
College-Educated
96%
High-School Grad
25.1 sq mi
ZIP Area
2,152
Density / Sq Mi
$235,399
Median Household Income
$123,587
Median Earnings
$3,183
Median Rent
$1,878,400
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 - Four two-bedroom residences offer in-unit laundry and updated finishes in select units.
Where is this quadplex located?
The property is located at 43677 Ellsworth St Fremont, CA.
What is the asking price?
The asking price for this property is $2,448,800.
What are key features of this property?
This property features: Four 2‑bedroom, 1.5‑bath units in a quadplex configuration; Approximately 3,746 SF building on a 7,500± SF lot; Two‑story layouts with in‑unit laundry
