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4 Unit Apartment + 1 Commercial: 2001 Build 815 San Pablo Ave 4 Unit Apartment Building $2,187,360 CAD ($546,840 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 |
$162,969
|
$35.52
|
| Other Income |
$4,922
|
$1.07
|
| Vacancy Loss |
$4,889
|
$1.07
|
| Effective Gross Income |
$163,002
|
$35.53
|
| Taxes |
$33,967
|
$7.40
|
| Operating Expenses |
$30,944
|
$6.74
|
| Total Expenses |
$64,911
|
$14.15
|
| Net Operating Income |
$98,091
|
$21.38
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $162,969 |
| Annual Per SF | $35.52 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,922 |
| Annual Per SF | $1.07 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $4,889 |
| Annual Per SF | $1.07 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $163,002 |
| Annual Per SF | $35.53 |
| Taxes (CAD) | |
|---|---|
| Annual | $33,967 |
| Annual Per SF | $7.40 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $30,944 |
| Annual Per SF | $6.74 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $64,911 |
| Annual Per SF | $14.15 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $98,091 |
| Annual Per SF | $21.38 |
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
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 402-166-024-8 | Total Assessment | $1,408,341 CAD |
| Land Assessment | $385,560 CAD | Annual Taxes | $33,967 CAD ($7.40 CAD/SF) |
| Improvements Assessment | $1,022,781 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
402-166-024-8
Land Assessment
$385,560 CAD
Improvements Assessment
$1,022,781 CAD
Total Assessment
$1,408,341 CAD
Annual Taxes
$33,967 CAD ($7.40 CAD/SF)
Tax Year
2025
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4 Unit Apartment + 1 Commercial: 2001 Build | 815 San Pablo Ave
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