Fremont Multi-Unit Investment
For Sale
$2,550,000
4560 Thornton Avenue, Fremont, CA 94536
Rare five-unit income property in Fremont, excellent location.
Property Size5,318 SF
Price / SF$479.50
Days on Market163
Property Features for 4560 Thornton Avenue
General Information
Standard status
Active
Size
5,318 SF
Property subtype
Commercial
Amenities
Dryer
Washer
Composition Roof
Corner
Court
Electric Heating
Gas Heating
Parking Area
Spaces per Unit - >1
Tile Flooring
Building Details
Year Built
1971
Listing Agency:
BEST PROPERTY MGMT., INC.
(510) 770-0824
Listed By:
RYAN ALTER · License #01769898
Source:
Corcoran
Added: Feb 27
Changed: Aug 8
Last Checked: Aug 8 at 6:01AM
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 BEST PROPERTY MGMT., INC.
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a five-unit income property in Fremont. The property is located at the end of a cul-de-sac with a private entrance. The Silicon Valley location features a single-story unit at the front with 3 bedrooms and 2 bathrooms, including central heat and AC. Additionally, there are four other units, each a little over 1,000 square feet, with 2 bedrooms and 1.5 bathrooms. All five units are currently tenant-occupied. The property is strategically positioned for both immediate cash flow and long-term appreciation. The Fremont location boasts exceptional schools and is minutes away from convenient commuting options. The property size is 5,318 square feet.
Key Highlights
- Rare 5‑unit investment property in high‑demand Fremont market.
- Excellent location in Fremont with top‑rated schools and convenient commuting options.
- Generates immediate cash flow with all five units currently tenant‑occupied.
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
$94,959
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
3.72%
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%
$1,899,180
$1.9M
Cap Rate 7%
$1,356,557
$1.4M
Cap Rate 9%
$1,055,100
$1.1M
Market Conditions
NOI Build-Up for 5,318 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
$180.6K $33.96/SF
− Vacancy
−$7.9K −$1.49/SF
EGI
$172.7K $32.47/SF
− OpEx
−$77.7K −$14.61/SF
NOI
$95.0K $17.86/SF
Area
Fremont, CA
Vacancy
4.40%
Lease Rate
$33.96 /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%
$1,899,180
Cap Rate 7%
$1,356,557
Cap Rate 9%
$1,055,100
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.58M
NOI $94,959 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,426 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
Explore this area
Business Placement
Demographics for 94536, CA
73,172
Population
26,338
Households
2.8
Avg Household Size
38
Median Age
58%
College-Educated
93%
High-School Grad
14.1 sq mi
ZIP Area
5,190
Density / Sq Mi
$156,672
Median Household Income
$87,943
Median Earnings
$2,835
Median Rent
$1,210,200
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?
Apartment building - Rare five-unit income property in Fremont, excellent location.
Where is this apartment building located?
The property is located at 4560 Thornton Avenue Fremont, CA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Rare 5‑unit investment property in high‑demand Fremont market.; Excellent location in Fremont with top‑rated schools and convenient commuting options.; Generates immediate cash flow with all five units currently tenant‑occupied.
