Renovated 22-Unit Multifamily
755 Fargo Avenue San Leandro, CA 94579
755 Fargo Avenue, San Leandro, CA, 94579
$5,150,000
For Sale
$5,150,000
Well-maintained 22-unit multifamily property with renovated studio, one-, and two-bedroom units plus two newly constructed ADUs.
Property Size12,105 SF
Price / SF$425.44
Days on Market33
Property Features for 755 Fargo Avenue
General Information
- Standard status
- Active
- Size
- 12,105 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1948
Listing agency
Marcus & Millichap
(408) 483-5040
Listed by
Jimmy Castellanos · License #02024152
(408) 483-5040
Source
Exitrealty
Added: Jun 19 Updated: Jul 20 at 5:19PM Checked: Jul 21 at 5:26AM
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 for-sale multifamily community includes 22 single-story units on a nearly one-acre parcel. The property offers a mix of studio, one-bedroom, and two-bedroom apartment homes across multiple buildings. Originally built in 1948, the asset has been improved through a recent renovation program and is described as well maintained, with renovated units.
The community also includes two newly constructed accessory dwelling units (ADUs), adding additional residential flexibility on-site.
Overall, the property is positioned as a renovated 22-unit rental community featuring single-story layouts, a diverse unit mix, and two ADUs within the same managed site.
The community also includes two newly constructed accessory dwelling units (ADUs), adding additional residential flexibility on-site.
Overall, the property is positioned as a renovated 22-unit rental community featuring single-story layouts, a diverse unit mix, and two ADUs within the same managed site.
Key Highlights
- 22 single‑story multifamily units built in 1948 on a nearly one‑acre parcel
- Renovated units throughout, with a unit mix of studios, 1‑bedroom, and 2‑bedroom homes
- Includes two newly constructed accessory dwelling units (ADUs)
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $338.5k | $27.96 |
| − Vacancy | −$19.6k | −$1.62 |
| EGI | $318.8k | $26.34 |
| − OpEx | −$143.5k | −$11.85 |
| NOI | $175.4k | $14.49 |
12,105 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.51M
$2.19M – $2.92M
NOI $175,354 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$55.19M
$48.29M – $64.38M
NOI $3,863,026 @ 7.0% cap · market cap 75.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained 22-unit multifamily property with renovated studio, one-, and two-bedroom units plus two newly constructed ADUs.
Where is this apartment building located?
The property is located at 755 Fargo Avenue San Leandro, CA.
What is the asking price?
The asking price for this property is $5,150,000.
What are key features of this property?
This property features: 22 single‑story multifamily units built in 1948 on a nearly one‑acre parcel; Renovated units throughout, with a unit mix of studios, 1‑bedroom, and 2‑bedroom homes; Includes two newly constructed accessory dwelling units (ADUs)
