1661 Mono AveSan Leandro, CA 94578

Property Details for 1661 Mono Ave

Year built

1950

Construction

WOOD

Lot size

0.34 AC

Property size (Sq ft)

3,990 SF

Property type

Apartment buildings

APN

80-40-31-1

APU

8040311

Description

This exceptional San Leandro investment opportunity presents a fee-simple ownership of a five-unit multifamily property situated on a sizable 14,700 square foot lot (0.34 acres). The property comprises a two-story, three-bedroom single-family home and four two-bedroom, one-bathroom cottages, all totaling 3,990 square feet of rentable space. Built in 1950, the property boasts a current occupancy of 100%, generating a Net Operating Income (NOI) of $90,827, and a pro-forma NOI of $97,426, representing a 6.26% cap rate and a pro-forma cap rate of 6.72%, respectively. The asking price is $1,450,000, or $290,000 per unit. The property features nine parking spaces and on-site laundry facilities, adding significant value for tenants. Conveniently located near Highway 580, this property offers easy access to major employment centers throughout the Bay Area. The permitted zoning is MULTI-FAMILY RES, allowing for potential future development or upgrades. This well-maintained property presents a compelling investment opportunity in a vibrant community with strong rental demand. The property's solid performance and potential for future appreciation make it an attractive addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $2,285,108

  6.5%

  $2,109,331

  7%

  $1,958,664

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,042,700

  Geo Method

  $1,724,919

• Alternative Use

  Use

  Valuation

  Residential

  $2,109,331

  Hospitality

  $1,932,136

  Educational

  $1,607,514

  Medical

  $1,662,799

  Retail

  $2,500,578

Location Insight

City

San Leandro

County

Alameda

State

California

Latitude

37.7048

Longitude

-122.12

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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