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4 Unit Apartment + 1 Commercial: 2001 Build 815 San Pablo Ave 4 Unit Apartment Building $1,600,000 ($400,000/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 | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$119,208
|
$25.98
|
| Other Income |
$3,600
|
$0.78
|
| Vacancy Loss |
$3,576
|
$0.78
|
| Effective Gross Income |
$119,232
|
$25.99
|
| Taxes |
$24,846
|
$5.42
|
| Operating Expenses |
$22,635
|
$4.93
|
| Total Expenses |
$47,481
|
$10.35
|
| Net Operating Income |
$71,751
|
$15.64
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $119,208 |
| Annual Per SF | $25.98 |
| Other Income | |
|---|---|
| Annual | $3,600 |
| Annual Per SF | $0.78 |
| Vacancy Loss | |
|---|---|
| Annual | $3,576 |
| Annual Per SF | $0.78 |
| Effective Gross Income | |
|---|---|
| Annual | $119,232 |
| Annual Per SF | $25.99 |
| Taxes | |
|---|---|
| Annual | $24,846 |
| Annual Per SF | $5.42 |
| Operating Expenses | |
|---|---|
| Annual | $22,635 |
| Annual Per SF | $4.93 |
| Total Expenses | |
|---|---|
| Annual | $47,481 |
| Annual Per SF | $10.35 |
| Net Operating Income | |
|---|---|
| Annual | $71,751 |
| Annual Per SF | $15.64 |
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 | $1,022,389 |
| Land Assessment | $279,898 | Annual Taxes | $24,846 ($5.42/SF) |
| Improvements Assessment | $742,491 | Tax Year | 2025 |
Property Taxes
Parcel Number
402-166-024-8
Land Assessment
$279,898
Improvements Assessment
$742,491
Total Assessment
$1,022,389
Annual Taxes
$24,846 ($5.42/SF)
Tax Year
2025
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4 Unit Apartment + 1 Commercial: 2001 Build | 815 San Pablo Ave
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