Albany Income Property Near
986 Kains Ave, Albany, CA 94705
For Sale
$2,095,000
Income property with a main house and a fourplex.
Property Size4,944 SF
Price / SF$423.75
Days on Market324
Property Features for 986 Kains Ave
General Information
Standard status
Size
Property subtype
Amenities
Central Forced Air Heating
Gas Heating
Hardwood Flooring
In Laundry Room
Laundry Area - In Unit
Off-Site Parking
Recreation Room
Tar & Gravel Roof
Tile Flooring
Wall Furnace Heating
Washer/Dryer - Leased
Building Details
Year Built
Listing Agency:
BAY'S ELITE INVESTMENTS
(510) 214-2616
Listed By:
PEDRAM KARBASSI
Source:
Corcoran
Added: Dec 21, 2025
Changed: Aug 8
Last Checked: Jul 17 at 6:23AM
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 BAY'S ELITE INVESTMENTS
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Investment Insights
Based on property information with market context.
This income property in Albany features a main house and a fourplex on the same parcel. The main house, built in the 1920s, includes four or more bedrooms and two bathrooms, with refinished hardwood and tile floors. The fourplex, constructed in the 1940s, consists of three two-bedroom units and one one-bedroom unit. Two of the units have fireplaces. Three of the fourplex units have been fully remodeled with modern kitchens including dishwashers, hardwood and tile, and new tubs. The remaining unit has been mostly updated with hardwood and tile floors, and modernized kitchen cabinets. The property is suitable for an owner-occupier to live in the main house across the driveway from the fourplex. The location has a walk score of 96 and a bike score of 98. Situated steps away from Solano Avenue, the property is located within the Albany school district. The units have historically rented back to back.
Key Highlights
- Prime Albany Location: 96 Walkscore, 98 Bikescore, steps from Solano Ave.
- Income‑Generating: Main house (4+ bed/2 bath) and a 4‑unit apartment building (4plex) on one parcel.
- Remodeled Units: Three 4plex units feature modern kitchens with dishwashers, hardwoods, tile, and new tubs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,619
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,432,380
$1.4M
Cap Rate 7%
$1,023,129
$1.0M
Cap Rate 9%
$795,767
$795.8K
Market Conditions
NOI Build-Up for 4,944 SF
Gross rent
$138.2K $27.96/SF
− Vacancy
−$8.0K −$1.62/SF
EGI
$130.2K $26.34/SF
− OpEx
−$58.6K −$11.85/SF
NOI
$71.6K $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 Rate 5%
$1,432,380
Cap Rate 7%
$1,023,129
Cap Rate 9%
$795,767
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$895.2K – $1.19M
NOI $71,619 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$22.54M
$19.72M – $26.30M
NOI $1,577,761 @ 7.0% cap · market cap 75.31%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,098
Businesses Nearby
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Business Placement
Demographics for 94705, CA
13,591
Population
6,335
Households
2.1
Avg Household Size
42
Median Age
79%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
3,997
Density / Sq Mi
$163,254
Median Household Income
$75,864
Median Earnings
$2,330
Median Rent
$1,892,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Alameda County, CA
Properties on Market for Apartment buildings in Alameda County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Income property with a main house and a fourplex.
Where is this apartment building located?
The property is located at 986 Kains Ave Albany, CA.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: Prime Albany Location: 96 Walkscore, 98 Bikescore, steps from Solano Ave.; Income‑Generating: Main house (4+ bed/2 bath) and a 4‑unit apartment building (4plex) on one parcel.; Remodeled Units: Three 4plex units feature modern kitchens with dishwashers, hardwoods, tile, and new tubs.
