Remodeled Four-Unit Apartment
For Sale
$1,630,000
517 Stannage Ave, Albany, CA 94706
Two-story Albany property with upgraded kitchens, individual utility metering, and access to nearby transit and retail services.
Property Size3,452 SF
Lot Size0.12 Acres
Price / SF$472.19
Days on Market95
Property Features for 517 Stannage Ave
General Information
Standard status
Active
Size
3,452 SF
Lot size
0.12 Acres
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
Wall Furnace
Natural Gas
No Air Conditioning
Forced Air
Gas Water Heater
Garden, All Utilities, Internet Available, Natural Gas Connected, Individual Electric Meter, Individual Gas Meter
Building Details
Year Built
1964
Buildings
1
Stories
2
Construction
wood frame
Listing Agency:
Oakland
(415) 710-7284
Listed By:
Nat Reinke · License #DRE
(415) 710-7284
Source:
Kw
Added: May 7
Changed: Aug 9
Last Checked: Aug 9 at 10:10AM
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 Oakland
Investment Insights
Based on property information with market context.
This two-story quadplex contains approximately 3,452 square feet on a 5,151-square-foot lot and includes four two-bedroom, one-bath apartments of approximately 863 square feet each. The wood-frame building has a stucco exterior, hardwood flooring in much of the living area, carpeted bedrooms, and bathrooms with tile floors, vanities, wall-mounted cabinets, and tub surrounds. Most apartments have received substantial updates, including granite countertops, new cabinetry, appliances, and designer light fixtures. One two-bedroom unit is being held vacant for potential owner use.
The property is located at 517 Stannage Ave in Albany, one block from El Cerrito Plaza, approximately half a mile from El Cerrito BART, and three blocks from Solano Avenue. Building systems include wall furnaces, forced air, a gas water heater, natural gas service, and no air conditioning. Exterior features include a garden, internet availability, all utilities, and individual electric and gas meters.
The property is located at 517 Stannage Ave in Albany, one block from El Cerrito Plaza, approximately half a mile from El Cerrito BART, and three blocks from Solano Avenue. Building systems include wall furnaces, forced air, a gas water heater, natural gas service, and no air conditioning. Exterior features include a garden, internet availability, all utilities, and individual electric and gas meters.
Key Highlights
- Four two‑bedroom, one‑bath units, each estimated at 863 square feet
- Approximately 3,452 square feet on a 5,151‑square‑foot lot
- Most units substantially remodeled with upgraded kitchens and new appliances
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
$115,867
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
7.11%
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%
$2,317,340
$2.3M
Cap Rate 7%
$1,655,243
$1.7M
Cap Rate 9%
$1,287,411
$1.3M
Market Conditions
NOI Build-Up for 3,452 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
$176.1K $51.00/SF
− Vacancy
−$10.5K −$3.05/SF
EGI
$165.5K $47.95/SF
− OpEx
−$49.7K −$14.39/SF
NOI
$115.9K $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%
$2,317,340
Cap Rate 7%
$1,655,243
Cap Rate 9%
$1,287,411
Alternative Uses
Best Use
Multifamily LT 5
$1.66M
$1.45M – $1.93M
NOI $115,867 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$714.4K
$625.1K – $833.4K
NOI $50,006 @ 7.0% cap · market cap 3.07%
Theoretical Best
Retail
$15.74M
$13.77M – $18.36M
NOI $1,101,625 @ 7.0% cap · market cap 67.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 94706, CA
21,134
Population
8,386
Households
2.5
Avg Household Size
37
Median Age
77%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
14,089
Density / Sq Mi
$136,961
Median Household Income
$75,849
Median Earnings
$2,394
Median Rent
$1,188,100
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-story Albany property with upgraded kitchens, individual utility metering, and access to nearby transit and retail services.
Where is this quadplex located?
The property is located at 517 Stannage Ave Albany, CA.
What is the asking price?
The asking price for this property is $1,630,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath units, each estimated at 863 square feet; Approximately 3,452 square feet on a 5,151‑square‑foot lot; Most units substantially remodeled with upgraded kitchens and new appliances
