Benicia Multifamily Investment
For Sale
$1,698,000
106 E K St, Benicia, CA 94510
Six-unit property near downtown Benicia with stable income.
Property Size4,596 SF
Price / SF$369.45
Days on Market141
Property Features for 106 E K St
General Information
Standard status
Active
Size
4,596 SF
Property subtype
Multi Family
Building Details
Year Built
1968
Listing Agency:
Soudah Realty
Listed By:
Kris Soudah · License #01764131
(415) 939-1328
Source:
Exitrealty
Added: Apr 26
Changed: Sep 10
Last Checked: Sep 12 at 4:50AM
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 Soudah Realty
Investment Insights
Based on property information with market context.
This well-maintained six-unit multifamily property presents an investment opportunity in Benicia. The location is near downtown amenities, waterfront attractions, shopping, and dining. The property benefits from strong rental demand in a sought-after Solano County community. The property's walk score is 63, indicating it is somewhat walkable, and its bike score is 19, indicating it is somewhat bikeable.
Key Highlights
- Stable income‑generating six‑unit multifamily investment property.
- Prime location in the heart of Benicia, near downtown amenities.
- Proximity to waterfront attractions, shopping, and dining.
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
$69,743
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
4.11%
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%
$1,394,860
$1.4M
Cap Rate 7%
$996,329
$996.3K
Cap Rate 9%
$774,922
$774.9K
Market Conditions
NOI Build-Up for 4,596 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
$132.4K $28.80/SF
− Vacancy
−$5.6K −$1.21/SF
EGI
$126.8K $27.59/SF
− OpEx
−$57.1K −$12.42/SF
NOI
$69.7K $15.17/SF
Area
Solano County, CA
Vacancy
4.20%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,394,860
Cap Rate 7%
$996,329
Cap Rate 9%
$774,922
Alternative Uses
Best Use
Apartment 5plus
$996.3K
$871.8K – $1.16M
NOI $69,743 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,357 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,303
Businesses Nearby
Explore this area
Business Placement
Demographics for 94510, CA
27,174
Population
11,463
Households
2.4
Avg Household Size
46
Median Age
46%
College-Educated
96%
High-School Grad
29.2 sq mi
ZIP Area
931
Density / Sq Mi
$125,222
Median Household Income
$70,569
Median Earnings
$2,234
Median Rent
$778,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit property near downtown Benicia with stable income.
Where is this apartment building located?
The property is located at 106 E K St Benicia, CA.
What is the asking price?
The asking price for this property is $1,698,000.
What are key features of this property?
This property features: Stable income‑generating six‑unit multifamily investment property.; Prime location in the heart of Benicia, near downtown amenities.; Proximity to waterfront attractions, shopping, and dining.
