3-Unit Triplex with Tandem
For Sale
$580,000
Pending
1139 Ohio St, Vallejo, CA 94590
Three residential units offer separate floor plans, on-site storage, and a low-maintenance yard near ferry service and freeway access.
Property Size1,658 SF
Days on Market15
Property Features for 1139 Ohio St
General Information
Standard status
Pending
Size
1,658 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 1BR, 1 x 2BR
Multifamily Units
3
Additional Details
Cap Rate
6.6%
Amenities
storage closet
low-maintenance yard
Building Details
Building Size
1,658 SF
Year Built
1960
Buildings
1
Stories
2
Units
3
Listing Agency:
RE/MAX Gold
Listed By:
Kevin Reilly · License #1371289
(415) 264-8869
Source:
Elliman
Added: Sep 11
Changed: Sep 21
Last Checked: Sep 24 at 2:14PM
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 RE/MAX Gold
Investment Insights
Based on property information with market context.
Built in 1960, this triplex contains three separately configured residences: two one-bedroom units and one two-bedroom unit. Each residence has an individual floor plan, while tandem parking serves all three units. The property also includes a carport area, a storage closet for maintenance supplies, and a dedicated water-heater closet. A low-maintenance yard supports straightforward upkeep.
The property is set among single-family homes and offers access to downtown San Francisco ferry service and the freeway. Walk Score is 70, indicating a somewhat walkable setting; Bike Score is 50, and Transit Score is 31. The property also carries a 6.60 CAP rate.
The property is set among single-family homes and offers access to downtown San Francisco ferry service and the freeway. Walk Score is 70, indicating a somewhat walkable setting; Bike Score is 50, and Transit Score is 31. The property also carries a 6.60 CAP rate.
Key Highlights
- Three‑unit configuration with two one‑bedroom units and one two‑bedroom unit
- Tandem parking provided for each of the three units
- 1960‑built triplex set among single‑family homes
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
$32,245
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
5.56%
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%
$644,900
$644.9K
Cap Rate 7%
$460,643
$460.6K
Cap Rate 9%
$358,278
$358.3K
Market Conditions
NOI Build-Up for 1,658 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
$48.7K $29.40/SF
− Vacancy
−$2.7K −$1.62/SF
EGI
$46.1K $27.78/SF
− OpEx
−$13.8K −$8.33/SF
NOI
$32.2K $19.45/SF
Area
Vallejo, CA
Vacancy
5.50%
Lease Rate
$29.40 /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%
$644,900
Cap Rate 7%
$460,643
Cap Rate 9%
$358,278
Alternative Uses
Best Use
Multifamily LT 5
$460.6K
$403.1K – $537.4K
NOI $32,245 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$413.7K
$362.0K – $482.7K
NOI $28,961 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$806.9K
$706.1K – $941.4K
NOI $56,485 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,886
Businesses Nearby
Explore this area
Business Placement
Demographics for 94590, CA
39,981
Population
16,500
Households
2.4
Avg Household Size
38
Median Age
26%
College-Educated
87%
High-School Grad
6.6 sq mi
ZIP Area
6,058
Density / Sq Mi
$66,957
Median Household Income
$43,383
Median Earnings
$1,768
Median Rent
$510,700
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?
Triplex - Three residential units offer separate floor plans, on-site storage, and a low-maintenance yard near ferry service and freeway access.
Where is this triplex located?
The property is located at 1139 Ohio St Vallejo, CA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Three‑unit configuration with two one‑bedroom units and one two‑bedroom unit; Tandem parking provided for each of the three units; 1960‑built triplex set among single‑family homes
