Turn-Key Multifamily Property with
For Sale
$2,395,000
Verdi St, Alameda, CA 94501
Multifamily property with income, upside, and convenient location.
Property Size5,493 SF
Lot Size0.18 Acres
Price / SF$436.01
Days on Market383
Property Features for Verdi St
General Information
Standard status
Active
Size
5,493 SF
Lot size
0.18 Acres
Property subtype
Commercial
Amenities
Garage
Garden
Assigned
Carpet Flooring
Front Yard
Hardwood Flooring
Landscaped
Level
On Street
Shingle Roof
Tile Flooring
Vinyl Flooring
Zoned Heating
Building Details
Year Built
1890
Listing Agency:
KELLER WILLIAMS TRI-VALLEY
(925) 397-4200
Listed By:
JASON PUGAO · License #01908325
(510) 472-6916
Source:
Corcoran
Added: Sep 3, 2025
Changed: Sep 10
Last Checked: Sep 20 at 7:14AM
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 KELLER WILLIAMS TRI-VALLEY
Investment Insights
Based on property information with market context.
This multifamily property features five units plus a permitted Accessory Dwelling Unit (ADU). Located near Highway 880, BART, bus lines, and the ferry, the property benefits from steady rental demand. The front building is a Victorian structure with four units. The rear ADU provides additional income, and each unit has its own garage. One unit is currently vacant, presenting an opportunity to capture market rents or utilize as an owner’s unit. On-site coin-operated laundry supplements the income. Recent capital improvements include a new concrete foundation, tankless water heater, exterior paint, renovated storage area, new mailboxes, a new deck, and a new roof above one of the units, plus several fully renovated interiors. The property is 5493 square feet.
Key Highlights
- Turn‑key multifamily property with 5 units plus a permitted ADU, providing strong in‑place income.
- Ideally located near HWY 880, BART, bus lines, and the ferry, attracting steady rental demand.
- One vacant unit offers immediate opportunity to capture market rents or use as an owner's unit.**
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
$79,572
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
3.32%
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%
$1,591,440
$1.6M
Cap Rate 7%
$1,136,743
$1.1M
Cap Rate 9%
$884,133
$884.1K
Market Conditions
NOI Build-Up for 5,493 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
$153.6K $27.96/SF
− Vacancy
−$8.9K −$1.62/SF
EGI
$144.7K $26.34/SF
− OpEx
−$65.1K −$11.85/SF
NOI
$79.6K $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 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%
$1,591,440
Cap Rate 7%
$1,136,743
Cap Rate 9%
$884,133
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$994.7K – $1.33M
NOI $79,572 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$25.04M
$21.91M – $29.22M
NOI $1,752,962 @ 7.0% cap · market cap 73.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,147
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with income, upside, and convenient location.
Where is this apartment building located?
The property is located at Verdi St Alameda, CA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Turn‑key multifamily property with 5 units plus a permitted ADU, providing strong in‑place income.; Ideally located near HWY 880, BART, bus lines, and the ferry, attracting steady rental demand.; One vacant unit offers immediate opportunity to capture market rents or use as an owner's unit.**
