Fourplex Townhome
For Sale
$1,600,000
Pending
1052 7th Street, Novato, CA 94945
Well-maintained four 2BR townhouse units with private fenced back yards and individual laundry rooms.
Property Size4,004 SF
Days on Market90
Property Features for 1052 7th Street
General Information
Standard status
Pending
Size
4,004 SF
Total Parking Spaces
8
Property subtype
Residential Income
Additional Details
Fenced Yard
Yes
Multifamily Units
4
Amenities
Central
Carport
Contemporary
Building Details
Year Built
1978
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Decker Bullock Dreyfus, Inc
(415) 424-9835
Listed By:
Pamela Burke · License #02156257
(415) 424-9835
Source:
Evrealestate
Added: May 27
Changed: Aug 23
Last Checked: Jul 24 at 6:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Decker Bullock Dreyfus, Inc
Investment Insights
Based on property information with market context.
This fourplex consists of four 2-bedroom, 1.5-bath townhouse-style apartments built in 1979. The building is wood frame, two-story construction on a concrete perimeter foundation with a composition roof. Each unit includes an individual laundry room and a private fenced-in backyard area. Parking is ample, with each apartment provided two off-street spaces: one carport space and one open space.
The property is on a level lot near downtown Novato, positioned on the far west side of the downtown area. Access is provided via a shared easement driveway with the adjacent building next door, which is also available for sale.
For prospective buyers and operators, this layout supports income-residential use with in-unit laundry and outdoor privacy through fenced back yards for each tenant. The combination of townhouse configuration, dedicated parking per unit, and documented long-term care may appeal to those seeking a manageable multi-unit residential asset in a convenient downtown-proximate setting.
The property is on a level lot near downtown Novato, positioned on the far west side of the downtown area. Access is provided via a shared easement driveway with the adjacent building next door, which is also available for sale.
For prospective buyers and operators, this layout supports income-residential use with in-unit laundry and outdoor privacy through fenced back yards for each tenant. The combination of townhouse configuration, dedicated parking per unit, and documented long-term care may appeal to those seeking a manageable multi-unit residential asset in a convenient downtown-proximate setting.
Key Highlights
- Four 2BR/1.5 BA townhouse‑style apartments on a level lot near downtown Novato (far west side)
- Each unit has an individual laundry room and a private fenced‑in backyard area
- Ample off‑street parking: each apartment includes two spaces, one carport and one open space
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
$134,395
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
8.40%
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%
$2,687,900
$2.7M
Cap Rate 7%
$1,919,929
$1.9M
Cap Rate 9%
$1,493,278
$1.5M
Market Conditions
NOI Build-Up for 4,004 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
$204.2K $51.00/SF
− Vacancy
−$12.2K −$3.05/SF
EGI
$192.0K $47.95/SF
− OpEx
−$57.6K −$14.39/SF
NOI
$134.4K $33.57/SF
Area
Marin County, CA
Vacancy
5.98%
Lease Rate
$51.00 /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%
$2,687,900
Cap Rate 7%
$1,919,929
Cap Rate 9%
$1,493,278
Alternative Uses
Best Use
Multifamily LT 5
$1.92M
$1.68M – $2.24M
NOI $134,395 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$828.6K
$725.0K – $966.7K
NOI $58,002 @ 7.0% cap · market cap 3.63%
Theoretical Best
Specialty Retail
$19.56M
$17.11M – $22.82M
NOI $1,369,053 @ 7.0% cap · market cap 85.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,585
Businesses Nearby
Explore this area
Business Placement
Demographics for 94945, CA
17,876
Population
7,355
Households
2.4
Avg Household Size
47
Median Age
52%
College-Educated
92%
High-School Grad
23.3 sq mi
ZIP Area
767
Density / Sq Mi
$109,750
Median Household Income
$65,060
Median Earnings
$2,168
Median Rent
$1,094,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four 2BR townhouse units with private fenced back yards and individual laundry rooms.
Where is this quadplex located?
The property is located at 1052 7th Street Novato, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Four 2BR/1.5 BA townhouse‑style apartments on a level lot near downtown Novato (far west side); Each unit has an individual laundry room and a private fenced‑in backyard area; Ample off‑street parking: each apartment includes two spaces, one carport and one open space
