Two-Bedroom Apartment
For Sale
$3,198,000
524 Buena Vista AVE, Alameda, CA 94501
The multifamily property offers consistent two-bedroom layouts in an established Alameda setting.
Property Size7,592 SF
Lot Size0.36 Acres
Price / SF$421.23
Days on Market52
Property Features for 524 Buena Vista AVE
General Information
Standard status
Active
Size
7,592 SF
Lot size
0.36 Acres
Property subtype
FiveOrMoreUnits
Building Details
Building Size
7,592 SF
Year Built
1962
Listing Agency:
Marcus & Millichap
Listed By:
Robert Johnston · License #01853816
(510) 304-8077
Source:
Mpireluxe
Added: Jul 30
Changed: Sep 19
Last Checked: Sep 19 at 11:46AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This apartment property includes approximately 7,592 square feet of gross building area on a 15,600-square-foot parcel. Constructed in 1962, the building is configured with residences that are all two-bedroom floor plans, creating a consistent unit layout throughout the property.
The asset is located in Alameda, California, across from Oakland and within the broader East Bay employment corridor. Downtown Alameda is approximately 2.6 miles away, providing access to retail, dining, and entertainment. The surrounding regional context also includes major healthcare, technology, banking, and port-related employment centers in the Oakland area.
The asset is located in Alameda, California, across from Oakland and within the broader East Bay employment corridor. Downtown Alameda is approximately 2.6 miles away, providing access to retail, dining, and entertainment. The surrounding regional context also includes major healthcare, technology, banking, and port-related employment centers in the Oakland area.
Key Highlights
- Approximately 7,592 square feet of gross building area
- 15,600‑square‑foot parcel
- All residences feature two‑bedroom floor plans
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
$109,978
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
3.44%
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%
$2,199,560
$2.2M
Cap Rate 7%
$1,571,114
$1.6M
Cap Rate 9%
$1,221,978
$1.2M
Market Conditions
NOI Build-Up for 7,592 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
$212.3K $27.96/SF
− Vacancy
−$12.3K −$1.62/SF
EGI
$200.0K $26.34/SF
− OpEx
−$90.0K −$11.85/SF
NOI
$110.0K $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%
$2,199,560
Cap Rate 7%
$1,571,114
Cap Rate 9%
$1,221,978
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,978 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$34.61M
$30.29M – $40.38M
NOI $2,422,808 @ 7.0% cap · market cap 75.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 94501, CA
64,116
Population
27,117
Households
2.4
Avg Household Size
41
Median Age
58%
College-Educated
93%
High-School Grad
8.0 sq mi
ZIP Area
8,015
Density / Sq Mi
$119,500
Median Household Income
$75,514
Median Earnings
$2,362
Median Rent
$1,213,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The multifamily property offers consistent two-bedroom layouts in an established Alameda setting.
Where is this apartment building located?
The property is located at 524 Buena Vista AVE Alameda, CA.
What is the asking price?
The asking price for this property is $3,198,000.
What are key features of this property?
This property features: Approximately 7,592 square feet of gross building area; 15,600‑square‑foot parcel; All residences feature two‑bedroom floor plans
