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2004 E 15th Ave
For Sale $1,500,000 ($290.70 per Sq Ft)
$1,500,000 ($290.70 per Sq Ft)
- 8 Units
- 5,160 Sq Ft
- 20,320 Sq Ft
- Unknown Cap Rate
Description
Financial Summary
• Purchase Price: $1,500,000
• Net Operating Income (NOI): $132,671.65
• Annual Debt Service: $45,508.90
• Cash Flow (Before-Tax): $87,162.75
Investment Metrics
Cap Rate 8.85
This is still strong, especially for multifamily in many markets. Typically, anything above 7–8 is attractive.
Cash-on-Cash Return - Assuming 20 down payment = $300,000:Cash-on-Cash Return=29.05
This is excellent — high CoC returns like this are uncommon in many real estate markets.
Debt Coverage Ratio (DCR)=2.92
Conclusion
At a $1.5M price point, this is a robust investment:
• 8.85 Cap Rate — solid and above average
• 29 Cash-on-Cash Return — very high
• Excellent DCR — well above lending safety thresholds. This deal remains highly favorable, with its excellent location, condition, and long-term growth potential.
Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,500,000 |
| Property Type | Multi-Family |
| Usable Sqft | 5,160 |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1953 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | A18291950R00012400006.1 |
| MLS # | O6293394 |
| Property ID | 319997939 |
| Lot Sqft | 20,320 |
| Zoning | YC-2 |
| Total Units | 8 |
| Days on Market | 282 |
| Original List Price | $1,500,000 |
| Applicances | Dryer, Electric Water Heater, Exhaust Fan, Range, Refrigerator, Washer% |
| Date Updated | November 05, 2025 |
| Date Created | March 25, 2025 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Isabel Campos-Gordon an agent of SAND DOLLAR REALTY GROUP INC. Lic #3221478
© 2026 STELLAR MLS. All rights reserved. Some listings on this website are from STELLAR as of November 05, 2025 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Robert Crawford
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