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Newport Apartments 2615 Marina Blvd 28 Unit Apartment Building $6,980,000 ($249,286/Unit) 6.03% Cap Rate San Leandro, CA 94577
Investment Highlights
- Rare Two Bedroom TWO BATH units
- Spacious balconies and patios
- Situated on a massive 1-Acre Lot
- Solar Panels to offset common area lighting expenses
- Prime location one block away from the Marina and two scenic golf courses
Executive Summary
Kidder Mathews is pleased to present Newport Apartments, a 28-unit community located in San Leandro. Located steps from Monarch Bay Golf Club, this expansive property spans nearly an acre with 17,710 square feet of rentable space. Built in 1965, Newport Apartments offers 18 one-bedroom, one-bath units and 10 two-bedroom, two-bath units. Amenities include 35 surface parking spaces, a community laundry room, and spacious patios and balconies.
Meticulously maintained for two decades, the property presents opportunities for a new owner to upgrade exterior, common areas, and units with modern touches. Ideally situated near 880, it provides easy access to major Bay Area employment centers. Perfect for young professionals and families, Newport Apartments is close to Monarch Bay Golf Club, Tony Lema Golf Course, Marina Park, Kaiser Hosptial, and Marina Square Center with prominent retail brands.
Meticulously maintained for two decades, the property presents opportunities for a new owner to upgrade exterior, common areas, and units with modern touches. Ideally situated near 880, it provides easy access to major Bay Area employment centers. Perfect for young professionals and families, Newport Apartments is close to Monarch Bay Golf Club, Tony Lema Golf Course, Marina Park, Kaiser Hosptial, and Marina Square Center with prominent retail brands.
Property Facts
| Price | $6,980,000 | Apartment Style | Low-Rise |
| Price Per Unit | $249,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.99 AC |
| Cap Rate | 6.03% | Building Size | 23,442 SF |
| Gross Rent Multiplier | 10.03 | No. Stories | 2 |
| No. Units | 28 | Year Built | 1965 |
| Property Type | Multifamily | Parking Ratio | 1.25/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | N/Av, San Leandro | ||
| Price | $6,980,000 |
| Price Per Unit | $249,286 |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| Gross Rent Multiplier | 10.03 |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.99 AC |
| Building Size | 23,442 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | N/Av, San Leandro |
Amenities
Unit Amenities
- Balcony
- Kitchen
- Refrigerator
- Range
- Patio
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | 570 |
| 2+1 | 10 | - | 784 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 079A-0565-027-00 | Improvements Assessment | $2,355,582 |
| Land Assessment | $871,242 | Total Assessment | $3,254,964 |
Property Taxes
Parcel Number
079A-0565-027-00
Land Assessment
$871,242
Improvements Assessment
$2,355,582
Total Assessment
$3,254,964
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Newport Apartments | 2615 Marina Blvd