16640 Los Banos Street, San Leandro, California 94578, San Leandro, 94578 - 5 bed, 4 bath
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16640 Los Banos Street
San Leandro, California 94578
ACTIVE
CONDITION: GOOD
5Beds
4Baths
1,425Sq Ft
7,500Lot Size
Property Price
LIST PRICE$978,888
EST. MARKET VALUE
$902,161
8% AboveMARKET VALUE
SUMMARY
This Versatile Multi-Unit Property is a High-Potential Investment Opportunity, listed at $997,000—positioned well below the $881,980 Fair Market Value by -13%. Featuring a Good Condition Rating, the main residence includes a modernized kitchen and sustainable solar upgrades, while two separate studios offer significant rental income potential. The inclusion of a 2.5% assumable VA loan provides a unique financial advantage for qualified buyers. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to leverage flexible living spaces and long-term financing stability.
Estimated Market Value
$902,161
Based on Realkey algorithm analyzing recent comparable sales in San Leandro.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 16640 Los Banos Street Subject 5 bd · 4 ba · 1,425 sqft · $633 | $978,888* List Price | 5 | 4 | 1,425 | $633 | - |
A 1657 162nd Ave Sold 3 bd · 2 ba · 1,424 sqft · $565 · 0.5 mi | $805,000 | 3 | 2 | 1,424 | $565 | 0.5 mi |
B 16311 Ria Dr Sold 3 bd · 2 ba · 1,283 sqft · $588 · 0.4 mi | $755,000 | 3 | 2 | 1,283 | $588 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1947, the property is well-maintained and move-in ready with significant updates. The kitchen features modern quartz countertops and stainless appliances. Key systems have been upgraded, including a tankless water heater, solar panels, EV hookup, and mini-split HVAC units in the studios. While some interior finishes like popcorn ceilings are dated, the overall condition and recent functional improvements align with the 'Good' criteria.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7500, living area = 1425.
- Assumable Low-Interest Financing
The property features a rare 2.5% assumable VA loan on a significant balance, offering qualified buyers substantial monthly savings compared to current market interest rates.
- Versatile Multi-Unit Potential
Beyond the main residence, two separate finished studios with kitchenettes and full baths provide excellent opportunities for rental income, guest housing, or a private home office.
CONSRISKS & DEFICIENCIES
- Permitting Uncertainty
The legality and permitted use of the two additional studio spaces are not guaranteed, requiring the buyer to perform due diligence regarding zoning and occupancy compliance.
- Main House Bathroom Ratio
While the property offers five total bedrooms, the main 1,425-square-foot residence only contains 1.5 bathrooms, which may be insufficient for larger families.
About 16640 Los Banos Street
RARE OPPORTUNITY WITH FLEXIBLE LIVING, OUTDOOR SPACE & A 2.5% ASSUMABLE VA LOAN! This move-in-ready property offers much more than the numbers suggest. The 1,425-SF main residence features 3 bedrooms and 1.5 baths, PLUS two separate finished studio spaces (approx. 365 SF and 216 SF 2006 SF Total), each with a full bath, kitchenette and mini-split HVAC ideal for guests, extended family, offices or flexible uses. The larger studio has a successful history of short-term rental use; the smaller has been used as a long-term rental. Buyer to investigate permitted uses. Even more exceptional: a FULLY ASSUMABLE VA LOAN with an approximate $497,000 balance at just 2.5% offering a qualified buyer potential savings of approximately $1,150 per month compared with current financing. The main home blends mid-century character with updates, including PPA solar, LED lighting, tankless water heater and EV hookup. The dine-in kitchen features quartz counters, updated cabinetry, stainless appliances and a walk-in pantry. Upstairs, the loft bedroom with half bath opens to a rooftop balcony overlooking the gardens and East Bay. The 7,500-sf property offers drought-tolerant landscaping, mature fruit trees, parking and entertaining areas, plus a 1,400+ sf vista terrace with sweeping views.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1947
- Lot Size
- 7,500 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 4 (4 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 4.0 | 2.0 |
| Square foot | 1,425 | 1,438.5 |
| Lot Size | 7,500 | 5,361.86 |
| Price | $978.9K | $895.2K |
| Price per sq ft | $687 | $624 |
| Built year | 1947 | 1950 |
| HOA | $0 | $159 |
| Days on market | 92 | 38 |
Pricing History
Listed for Sale
Oct 15, 2026
$978,888
$997,000
-2% Price Drop
Initial Listing
Price Change
Aug 15, 2026
$997,000
$1,050,000
-5% Price Drop
Initial Listing
Price Change
Jul 24, 2026
$1,050,000
Initial Listing
Sold
Aug 1, 2017
$600,000
Public Record
Sold
Nov 17, 2010
$245,000
Public Record
Sold
Jun 12, 1998
$162,500
Public Record