Triplex Near Ocean
New
For Sale
$1,399,000
2416 Palmetto AVE, Pacifica, CA 94044
Residential Income (2-4 units), PACIFICA, CA
Property Size3,414 SF
Lot Size0.08 Acres
Price / SF$409.78
Days on Market5
Property Features for 2416 Palmetto AVE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-3
Bedrooms
5
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 5
Parking
1
Parking features
Garage - Attached
Subdivision
West Sharp Park
Standard status
Active
Size
3,414 SF
Lot size
0.08 Acres
Utilities
Heating system
Natural Gas, Wall Furnace, Electric (Heating)
Water source
Public
Amenities
shared laundry facilities
Building Details
Year built
1966
Number of units
3
Roof type
Composition
Listing Agency:
KW Advisors · Keller Williams Realty
(650) 627-3700
Listed By:
Paul Beaudreau · License #01910286
(650) 627-3757
Added: Sep 18
Last Checked: Sep 22 at 1:06PM
MLS# ML82061561
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,414-square-foot triplex, built in 1966, contains two 2-bedroom, 2-bathroom units and one 1-bedroom, 1-bathroom unit. Each residence provides generously sized living areas, while the property also includes one attached garage parking space per unit and shared laundry facilities. Recent exterior paint supports the building’s maintained presentation. Public water service, a composition roof, and heating that includes natural gas, wall furnaces, and electric systems are also in place.
The property occupies 0.0796 acres in West Sharp Park, two blocks from Ocean Beach and near shopping and recreational landmarks. Highway 1 and I-280 provide regional access, and Daly City BART is approximately a 10-minute drive away. The property is zoned R-3 and addressed at 2416 Palmetto AVE in Pacifica, California.
The property occupies 0.0796 acres in West Sharp Park, two blocks from Ocean Beach and near shopping and recreational landmarks. Highway 1 and I-280 provide regional access, and Daly City BART is approximately a 10-minute drive away. The property is zoned R-3 and addressed at 2416 Palmetto AVE in Pacifica, California.
Key Highlights
- 3,414 SF triplex with two 2‑bedroom, 2‑bathroom units and one 1‑bedroom, 1‑bathroom unit
- Two blocks from Ocean Beach in West Sharp Park
- One attached garage parking space per unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$99,210
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,984,200
$2.0M
Cap Rate 7%
$1,417,286
$1.4M
Cap Rate 9%
$1,102,333
$1.1M
Market Conditions
NOI Build-Up for 3,414 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$151.6K $44.40/SF
− Vacancy
−$9.9K −$2.89/SF
EGI
$141.7K $41.51/SF
− OpEx
−$42.5K −$12.45/SF
NOI
$99.2K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,984,200
Cap Rate 7%
$1,417,286
Cap Rate 9%
$1,102,333
Alternative Uses
Best Use
Multifamily LT 5
$1.42M
$1.24M – $1.65M
NOI $99,210 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,919 @ 7.0% cap · market cap 6.64%
Theoretical Best
Warehouse
$2.71M
$2.37M – $3.16M
NOI $189,825 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Explore this area
Business Placement
Demographics for 94044, CA
38,675
Population
14,609
Households
2.6
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
15.1 sq mi
ZIP Area
2,561
Density / Sq Mi
$156,658
Median Household Income
$75,296
Median Earnings
$3,075
Median Rent
$1,211,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-unit property with varied bedroom layouts, attached garage parking, and shared laundry facilities.
Where is this triplex located?
The property is located at 2416 Palmetto AVE Pacifica, CA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 3,414 SF triplex with two 2‑bedroom, 2‑bathroom units and one 1‑bedroom, 1‑bathroom unit; Two blocks from Ocean Beach in West Sharp Park; One attached garage parking space per unit
