516 1st St Rodeo, CA 94572-1105
- Retail space
- 1,837 SF
- 0.14 lot acres
Feb 01, 2025
Current Use by Public Records
- Davies Ground Control / Landscaper
Property Details for 516 1st St
- Year built
- 1949
- Construction
- BRICK
- Lot size
- 0.14 lot acres
- Property size
- 1,837 SF
- Zone code
- P-1
- Property type
- Retail space
- APN
- 357-041-003-9
- APU
- 3570410039
Description
This exceptional investment opportunity presents a stabilized 7-unit multifamily complex located in the desirable downtown Rodeo, CA. The property comprises two adjacent parcels, 516 and 524-528 1st Street, totaling 4,942 square feet on a 0.36-acre lot. The buildings, constructed in 1949 and 1915, feature a mix of unit sizes, including studios, one-bedroom, two-bedroom, and a three-bedroom unit. 516 1st Street houses four units: two 2-bedroom/1-bathroom, one 1-bedroom/1-bathroom, and one studio, along with a shed. 524-528 1st Street includes a small office space, a 3-bedroom/1-bathroom unit with a large backyard, a 2-bedroom/1-bathroom unit, storage space, and a two-car garage. The property boasts a current NOI of $82,885 and a pro-forma NOI of $93,166, translating to an 8.29% cap rate and a pro-forma cap rate of 9.32%, respectively. The asking price is $1,000,000, or $142,857 per unit. Seller financing is available. Most units have undergone recent updates. The property's prime location offers proximity to local businesses and San Pablo Bay, with convenient access to Highway 80 for easy commuting to Vallejo, Berkeley, Oakland, and San Francisco. The permitted zoning is M-2/MU-2 (Downtown/Waterfront Rodeo Mixed Use District). APN: 357-041-003-9 + 357-041-002-1.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rodeo
- County
- Contra Costa
- State
- California
- Longitude
- -122.269
- Latitude
- 38.0374
- CBSA code
- 41860
- CBSA name
- SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA
