11 Units + Ability to Add 10 ADUs | 1.1 Acres 635 Saint John St 11 Unit Apartment Building $3,500,000 ($318,182/Unit) 3.32% Cap Rate Pleasanton, CA 94566

635 Saint John Street is a unique multifamily opportunity in charming Pleasanton, California. The property consists of 11 units across nine separate buildings on a massive 48,752 square foot lot. The unit mix includes: one four-bedroom/two-bathroom 1,700 square foot house; a triplex consisting of three one bedroom/one-bathroom units; three two-bedroom/one-bathroom stand-alone cottages; one two-bedroom/two-bathroom stand-alone cottage; one one bedroom/one-bathroom stand-alone cottage; one studio; and one approximately 1,500 square foot unit that requires a complete renovation. The property is located in a low-density residential neighborhood surrounded by single-family homes that are selling for close to two million dollars each. It is just a four block walk to the shops and restaurants of Downtown Pleasanton, which has over 550 businesses, including retailers, restaurants, and service providers.
The property offers multiple value-creation opportunities. There is upside potential through interior renovations tailored to the demands of high-income tenants. There is also a significant opportunity to add ADUs: a prefeasibility study indicates that up to ten ADUs can be added through garage conversions and new construction. Additionally, the new owner can implement a Ratio Utility Billing System (RUBS). Improvements to curb appeal and amenities—such as electric vehicle chargers and the addition of new ADUs—can further enhance the property’s overall appeal and return on investment.
Pleasanton, located in Alameda County, is a prestigious East Bay market with convenient access to major employment and educational hubs, high-quality schools, and key transportation routes. It is approximately 35 miles from San Francisco and 20 miles from Oakland, making it an ideal location for commuters. Major local employers include Workday, Kaiser Permanente, Safeway, Roche Molecular Diagnostics, and Oracle. The city is well served by transportation options, including the Dublin/Pleasanton BART station and direct access to Interstates 580 and 680, offering excellent regional connectivity. The income and value upside, housing supply constraints, robust rent growth, and ADU optionality make 635 Saint John Street an excellent investment for both cash-flow-focused and appreciation-minded investor.