Three-Residence Multifamily
New
For Sale
$1,350,000
10919 E Lime Kiln Road, Grass Valley, CA 95949
Separate entrances, a pool, gardens, orchard, and owned solar support multiple residential configurations.
Property Size6,000 SF
Lot Size2.00 Acres
Price / SF$225
Days on Market3
Property Features for 10919 E Lime Kiln Road
General Information
Standard status
Active
Size
6,000 SF
Lot size
2.00 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x custom home (4,500+ sq ft), 1 x 2-bedroom (1,200 sq ft), 1 x studio
Multifamily Units
3
Amenities
pool with solar heating
irrigation
gardens
orchard
pond water feature
seasonal creek
solar
Building Details
Buildings
3
Listing Agency:
HomeSmart ICARE Realty
3014079
Listed By:
Jessica J. Wilson · License #02037138
3014079
Source:
Exprealty
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 9:08AM
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 HomeSmart ICARE Realty
Investment Insights
Based on property information with market context.
This multifamily property at 10919 E Lime Kiln Road comprises three residences totaling 6,000 square feet. The primary home offers 4,500+ square feet, while the second residence is a 1,200-square-foot single-story, two-bedroom home. A separate studio includes a kitchen, bathroom, laundry area, and garage. Each residence has its own private entrance.
The property spans 2 beautifully landscaped acres with a custom pool featuring solar heating, multiple gardens, an orchard, a pond water feature, and a seasonal creek. Two miner’s inches of irrigation and owned solar are included. Parking accommodates RV use, adding practical flexibility to the site. The property is suited to multi-generational living, rental use, or vacation use as supported by its three-residence layout and varied outdoor improvements.
The property spans 2 beautifully landscaped acres with a custom pool featuring solar heating, multiple gardens, an orchard, a pond water feature, and a seasonal creek. Two miner’s inches of irrigation and owned solar are included. Parking accommodates RV use, adding practical flexibility to the site. The property is suited to multi-generational living, rental use, or vacation use as supported by its three-residence layout and varied outdoor improvements.
Key Highlights
- Three residences totaling 6,000 square feet
- Primary home offers 4,500+ square feet
- Second home includes 2 bedrooms and 1,200 square feet
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
$79,002
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
5.85%
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%
$1,580,040
$1.6M
Cap Rate 7%
$1,128,600
$1.1M
Cap Rate 9%
$877,800
$877.8K
Market Conditions
NOI Build-Up for 6,000 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
$151.2K $25.20/SF
− Vacancy
−$7.6K −$1.26/SF
EGI
$143.6K $23.94/SF
− OpEx
−$64.6K −$10.77/SF
NOI
$79.0K $13.17/SF
Area
Nevada County, CA
Vacancy
5.00%
Lease Rate
$25.20 /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%
$1,580,040
Cap Rate 7%
$1,128,600
Cap Rate 9%
$877,800
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$987.5K – $1.32M
NOI $79,002 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.15M
$1.88M – $2.50M
NOI $150,158 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
30
Businesses Nearby
Explore this area
Business Placement
Demographics for 95949, CA
20,720
Population
8,644
Households
2.4
Avg Household Size
52
Median Age
32%
College-Educated
96%
High-School Grad
136.9 sq mi
ZIP Area
151
Density / Sq Mi
$90,309
Median Household Income
$40,553
Median Earnings
$1,827
Median Rent
$551,700
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?
Multifamily property - Separate entrances, a pool, gardens, orchard, and owned solar support multiple residential configurations.
Where is this multifamily property located?
The property is located at 10919 E Lime Kiln Road Grass Valley, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Three residences totaling 6,000 square feet; Primary home offers 4,500+ square feet; Second home includes 2 bedrooms and 1,200 square feet
