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4 Unit Apartment + 1 Commercial: 2001 Build 815 San Pablo Ave 4 Unit Apartment Building $2,212,000 CAD ($553,000 CAD/Unit) 4.48% Cap Rate Pinole, CA 94564
INVESTMENT HIGHLIGHTS
- Low Maintenance w Newer 2001 Construction - Pride of ownership helps keep ongoing maintenance costs low.
- Gratuitous State Rental Increase - State rent control (AB 1482) allows increases of CPI + 5% (w a max of 10%). Much higher than nearby cities.
- Minimal Insurance Issues - Insurance concerns alleviated with modern electric panels/wiring, sprinklered building, and balconies are already vented.
- Potential Conversion to Add Additional Units - Commercial unit may generate more income if converted to apartments.
EXECUTIVE SUMMARY
Cap Rate - 4.48% (Current)
GRM - 13.03 (Current)
Cap Rate - 4.73% (Proforma)
GRM - 12.60 (Proforma)
Davide F. Pio proudly presents 815 San Pablo Ave in Pinole, CA for sale. The asset features four (4) apartment units, two of which are 2 beds / 1 bath and the other two are studio units, as well as an owner-occupied commercial space. The owners went above and beyond showing pride in ownership construction and meticulous maintenance since it’s completion in 2001.
A 4-car garage and 5-space parking lot as well as a coin-op laundry room provide additional income. Newer construction helps keep costs low and insurance requests to a minimum. Turn key investment with upside in rents but also in the potential conversion of the commercial space (tbd by buyer).
Finding an apartment in the predominantly single-family home suburbs of Pinole is difficult, and one of newer construction is even more rare. Walking distance to various restaurants, and a short drive to local establishments in nearby Hercules, El Sobrante, and other parts of Pinole. A short drive provides quick access to Highway 80 allowing easy connections to San Francisco, Berkeley, and Oakland.
GRM - 13.03 (Current)
Cap Rate - 4.73% (Proforma)
GRM - 12.60 (Proforma)
Davide F. Pio proudly presents 815 San Pablo Ave in Pinole, CA for sale. The asset features four (4) apartment units, two of which are 2 beds / 1 bath and the other two are studio units, as well as an owner-occupied commercial space. The owners went above and beyond showing pride in ownership construction and meticulous maintenance since it’s completion in 2001.
A 4-car garage and 5-space parking lot as well as a coin-op laundry room provide additional income. Newer construction helps keep costs low and insurance requests to a minimum. Turn key investment with upside in rents but also in the potential conversion of the commercial space (tbd by buyer).
Finding an apartment in the predominantly single-family home suburbs of Pinole is difficult, and one of newer construction is even more rare. Walking distance to various restaurants, and a short drive to local establishments in nearby Hercules, El Sobrante, and other parts of Pinole. A short drive provides quick access to Highway 80 allowing easy connections to San Francisco, Berkeley, and Oakland.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$164,805
|
$35.92
|
| Other Income |
$4,977
|
$1.08
|
| Vacancy Loss |
$4,944
|
$1.08
|
| Effective Gross Income |
$164,838
|
$35.93
|
| Taxes |
$34,350
|
$7.49
|
| Operating Expenses |
$31,293
|
$6.82
|
| Total Expenses |
$65,642
|
$14.31
|
| Net Operating Income |
$99,196
|
$21.62
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $164,805 |
| Annual Per SF | $35.92 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,977 |
| Annual Per SF | $1.08 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,944 |
| Annual Per SF | $1.08 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $164,838 |
| Annual Per SF | $35.93 |
| Taxes (CAD) | |
|---|---|
| Annual | $34,350 |
| Annual Per SF | $7.49 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $31,293 |
| Annual Per SF | $6.82 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $65,642 |
| Annual Per SF | $14.31 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,196 |
| Annual Per SF | $21.62 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Balcony
- Washer/Dryer Hookup
- Ceiling Fans
- Tile Floors
- Office
- Patio
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 402-166-024-8 | Total Assessment | $1,435,792 CAD |
| Land Assessment | $393,075 CAD | Annual Taxes | $34,350 CAD ($7.49 CAD/SF) |
| Improvements Assessment | $1,042,717 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
402-166-024-8
Land Assessment
$393,075 CAD
Improvements Assessment
$1,042,717 CAD
Total Assessment
$1,435,792 CAD
Annual Taxes
$34,350 CAD ($7.49 CAD/SF)
Tax Year
2025
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4 Unit Apartment + 1 Commercial: 2001 Build | 815 San Pablo Ave
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