Apartment
For Sale
$1,580,000
1124 Lacey Ln, Concord, CA 94520
Established multifamily property suited to residential income ownership in Concord.
Property Size4,039 SF
Days on Market8
Property Features for 1124 Lacey Ln
General Information
Standard status
Active
Size
4,039 SF
Property subtype
Apt Complex
Building Details
Building Size
4,039 SF
Year Built
1960
Listing Agency:
GCM Realty & Loans
(510) 387-7954
Listed By:
Maurice Carbajal · License #01415783
(510) 387-7954
Source:
Annnewtoncane
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 31 at 12:12AM
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 GCM Realty & Loans
Investment Insights
Based on property information with market context.
This multifamily asset is an apartment building located at 1124 Lacey Ln in Concord, California. The property was constructed in 1960 and is classified for apartment and residential income use.
The offering is available for sale. Showings are arranged by appointment, with advance coordination required before visiting the property.
The offering is available for sale. Showings are arranged by appointment, with advance coordination required before visiting the property.
Key Highlights
- 1960 construction
- Located at 1124 Lacey Ln, Concord, CA 94520
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
$64,071
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
4.06%
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%
$1,281,420
$1.3M
Cap Rate 7%
$915,300
$915.3K
Cap Rate 9%
$711,900
$711.9K
Market Conditions
NOI Build-Up for 4,039 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
$122.6K $30.36/SF
− Vacancy
−$6.1K −$1.52/SF
EGI
$116.5K $28.84/SF
− OpEx
−$52.4K −$12.98/SF
NOI
$64.1K $15.86/SF
Area
Concord, CA
Vacancy
5.00%
Lease Rate
$30.36 /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%
$1,281,420
Cap Rate 7%
$915,300
Cap Rate 9%
$711,900
Alternative Uses
Best Use
Apartment 5plus
$915.3K
$800.9K – $1.07M
NOI $64,071 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$987.9K
$864.4K – $1.15M
NOI $69,151 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
936
Businesses Nearby
Explore this area
Business Placement
Demographics for 94520, CA
38,383
Population
13,661
Households
2.8
Avg Household Size
35
Median Age
30%
College-Educated
79%
High-School Grad
9.9 sq mi
ZIP Area
3,877
Density / Sq Mi
$79,790
Median Household Income
$43,382
Median Earnings
$2,118
Median Rent
$572,400
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?
Apartment building - Established multifamily property suited to residential income ownership in Concord.
Where is this apartment building located?
The property is located at 1124 Lacey Ln Concord, CA.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: 1960 construction; Located at 1124 Lacey Ln, Concord, CA 94520
