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2090 Marina Blvd 5 Unit Apartment Building $2,505,676 CAD ($501,135 CAD/Unit) 6.71% Cap Rate San Leandro, CA 94577
INVESTMENT HIGHLIGHTS
- One 4bd/2bth SFH & Four 2bd/1bth Apartments
- Expansive Lot Perfect for ADUS, 2:1 Off Street Parking, Private Storage, & More
- 8.01% Market Cap & 9.79 Market GRM
- New Roof, New Fence, Earthquake Retrofitting, Fresh Paint and Covered Side Yard
- Current Rents Roughly 10% Below Market Rate, Providing Excellent Upside Potential
- Excellent Mulford Gardens Location Walkable to Coffee Shops, Eateries, Shopping, Parks and I-880
EXECUTIVE SUMMARY
2090 Marina Boulevard presents investors with an opportunity to own a unique property, ideally located in the Milford Gardens neighborhood of San Leandro, CA, featuring a 1,500 sq. ft. 4bd/2bth single family home and four 2bd/1bth units, built in 1962. The buildings are 100% occupied by stable and paying tenants with over 10% in annual upside potential. The property is set on a spacious 14,800 SF lot, boasting a 2:1 off-street parking ratio and storage sheds for each unit and a large garage that is rented for additional income. Various improvements have been completed recently, including: new roofs, earthquake retrofitting, fresh paint, and a covered side yard.
PROPERTY FACTS
| Price | $2,505,676 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $501,135 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 6.71% | Building Size | 5,000 SF |
| Gross Rent Multiplier | 11.36 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1951 |
| Property Type | Multifamily | Parking Ratio | 1.4/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | N/Av, San Leandro | ||
| Price | $2,505,676 CAD |
| Price Per Unit | $501,135 CAD |
| Sale Type | Investment |
| Cap Rate | 6.71% |
| Gross Rent Multiplier | 11.36 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 5,000 SF |
| No. Stories | 2 |
| Year Built | 1951 |
| Parking Ratio | 1.4/1,000 SF |
| Zoning | N/Av, San Leandro |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Online Services
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | 720 |
| 4+2 | 1 | - | 1,504 |
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Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 079A-0569-019-00 | Improvements Assessment | $1,543,573 CAD |
| Land Assessment | $773,007 CAD | Total Assessment | $2,316,580 CAD |
PROPERTY TAXES
Parcel Number
079A-0569-019-00
Land Assessment
$773,007 CAD
Improvements Assessment
$1,543,573 CAD
Total Assessment
$2,316,580 CAD
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