1461-1475 150th | 1461-1475 150th Ave
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1461-1475 150th 1461-1475 150th Ave
14 Unit Block of Flats £2,510,112 (£179,294/Unit) 5.77% Net Initial Yield San Leandro, CA 94578
Investment Highlights
- Located within the Bay Fair TOD Specific Plan Area (targeted infrastructure spending to increase walkability & vibrancy)
- Strong unit mix with 8 two bedroom units and 6 one bedroom units
- Separately metered for gas and electricity and tenants pay their own garbage
- Well maintained asset with long term tenancy on the market for the first time in three decades
- Market Cap Rate: 7.66% / Market GRM: 9.32. Cash on Cash (estimate): 2.60% in Year 1, 9.80% in Year 5, 15.03% in Year 10
- Walkable to grocery, Bay Fair BART, Target, CVS and BAYFAIR Center
Executive Summary
1461-1475 150th consists of 14 total units, comprised of two seven-unit buildings on separate parcels. The two story structures were built in 1960 and offer tenants 12 covered parking spaces, 2 surface parking spaces as well as a community laundry room. The building has been well maintained during the current ownership’s hold period spanning more than three decades. A new owner can unlock significant upside by modernizing the already well-maintained building exterior and common areas as well as renovating units to a modern style finish on unit turnover.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £2,510,112 | Apartment Style | Low Rise |
| Price Per Unit | £179,294 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Net Initial Yield | 5.77% | Building Size | 9,492 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.32 | Number of Floors | 2 |
| No. Units | 14 | Year Built | 1960 |
| Property Type | Residential | Parking Ratio | 1.47/1,000 SF |
| Property Subtype | Apartment |
| Price | £2,510,112 |
| Price Per Unit | £179,294 |
| Sale Type | Investment |
| Net Initial Yield | 5.77% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 11.32 |
| No. Units | 14 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 9,492 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.47/1,000 SF |
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 6 | £1,412 | 600 - 620 |
| 2+1 | 8 | £1,549 | 735 - 766 |
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Walk Score ®
Very Walkable (85)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | £1,232,740 | |
| Land Assessment | £371,130 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £861,610 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£371,130
Improvements Assessment
£861,610
Total Assessment
£1,232,740
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
zoning
| Zoning Code | C2, San Leandro (Included in the Bay Fair TOD Specific Plan Area) |
| C2, San Leandro (Included in the Bay Fair TOD Specific Plan Area) |
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1461-1475 150th | 1461-1475 150th Ave
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