Updated Quadplex Near
New
For Sale
$1,750,000
534 Adams St, Albany, CA 94706
Four apartment units feature refreshed interiors and access to shopping, transit, schools, trails, and regional highways.
Property Size4,000 SF
Price / SF$437.50
Days on Market2
Property Features for 534 Adams St
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Asking Price
$1,750,000
Multifamily Units
4
Building Details
Year Built
1985
Units
4
Listing Agency:
RE/MAX Accord
Listed By:
Kevin Obrien · License #1385083
(925) 283-9200
Source:
Elliman
Added: Sep 1
Last Checked: Sep 1 at 8:56PM
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 4,000-square-foot quadplex, built in 1985, is arranged as four separate apartments. Recent improvements include newer windows, flooring, paint, kitchens, and bathrooms, with the property described as move-in ready. The current configuration supports rental use, while the information provided also outlines a possible conversion to shared non-profit housing with 12 bedrooms and 6.5 bathrooms.
The property is located at 534 Adams St in Albany, across from El Cerrito Plaza and a few blocks from BART. Albany High School is 6 or 8 blocks away, Albany Hill and hiking are immediately nearby, and Highway 80 can be reached within a few minutes. AC Transit service is less than a block away. The property has a Walk Score of 96, a Bike Score of 98, and a Transit Score of 58. A pro forma indicates a 5.1% cap rate and 12.7 GRM.
The property is located at 534 Adams St in Albany, across from El Cerrito Plaza and a few blocks from BART. Albany High School is 6 or 8 blocks away, Albany Hill and hiking are immediately nearby, and Highway 80 can be reached within a few minutes. AC Transit service is less than a block away. The property has a Walk Score of 96, a Bike Score of 98, and a Transit Score of 58. A pro forma indicates a 5.1% cap rate and 12.7 GRM.
Key Highlights
- 4,000‑square‑foot property configured as 4 separate apartments
- Built in 1985 with newer windows, flooring, paint, kitchens, and bathrooms
- Pro forma indicates a 5.1% cap rate and 12.7 GRM
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
$134,261
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
7.67%
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%
$2,685,220
$2.7M
Cap Rate 7%
$1,918,014
$1.9M
Cap Rate 9%
$1,491,789
$1.5M
Market Conditions
NOI Build-Up for 4,000 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
$204.0K $51.00/SF
− Vacancy
−$12.2K −$3.05/SF
EGI
$191.8K $47.95/SF
− OpEx
−$57.5K −$14.39/SF
NOI
$134.3K $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%
$2,685,220
Cap Rate 7%
$1,918,014
Cap Rate 9%
$1,491,789
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,261 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$827.8K
$724.3K – $965.7K
NOI $57,944 @ 7.0% cap · market cap 3.31%
Theoretical Best
Retail
$18.24M
$15.96M – $21.28M
NOI $1,276,506 @ 7.0% cap · market cap 72.94%
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
2,177
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 - Four apartment units feature refreshed interiors and access to shopping, transit, schools, trails, and regional highways.
Where is this quadplex located?
The property is located at 534 Adams St Albany, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 4,000‑square‑foot property configured as 4 separate apartments; Built in 1985 with newer windows, flooring, paint, kitchens, and bathrooms; Pro forma indicates a 5.1% cap rate and 12.7 GRM
