Spacious Multifamily Investment in Tracy,
For Sale
$1,650,000
23551 Rancho Ramon Ct, Tracy, CA 95304
4,220 SQFT 2 Unit Apartment Building in TRACY, CA
Property Size4,220 SF
Lot Size0.10 Acres
Price / SF$390
Days on Market635
Property Features for 23551 Rancho Ramon Ct
General Information
Standard status
Active
Property type
Other investment properties, Multifamily properties, Farms, Investment properties, Residential income properties, Agricultural properties
Size
4,220 SF
Elevators
N/A
Lot size
0.10 Acres
Building Details
Year Built
1981
Units
2
Listed By:
Sherry Nigg
(925) 640-0869
Added: Jan 10, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This two-unit apartment building, situated in Tracy, CA, offers an investment opportunity. The property features a 4,220 square foot building on a 0.1-acre lot. The property is zoned for multifamily use. The main home includes six bedrooms with an office and bonus/fitness room. A recently updated detached ADU is included, suitable for guests or rental income. The 1.70-acre property includes a six-stall barn, pasture, and room for livestock. The property offers potential for rental income generation and is ready for immediate occupancy or further enhancement to maximize rental returns. Its location in Tracy, CA, provides convenient access to local amenities and transportation networks. The property's size and location make it an attractive investment. It presents an opportunity to acquire a well-located multifamily property in a desirable area with strong growth prospects.
Key Highlights
- Living Area
- 4,220 SqFt.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,872
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,037,440
$1.0M
Cap Rate 7%
$741,029
$741.0K
Cap Rate 9%
$576,356
$576.4K
Market Conditions
NOI Build-Up for 4,220 SF
Gross rent
$98.2K $23.28/SF
− Vacancy
−$3.9K −$0.93/SF
EGI
$94.3K $22.35/SF
− OpEx
−$42.4K −$10.06/SF
NOI
$51.9K $12.29/SF
Area
San Joaquin County, CA
Vacancy
4.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,037,440
Cap Rate 7%
$741,029
Cap Rate 9%
$576,356
Alternative Uses
Best Use
Apartment 5plus
$741.0K
$648.4K – $864.5K
NOI $51,872 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$926.7K
$810.9K – $1.08M
NOI $64,870 @ 7.0% cap · market cap 3.93%
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
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 95304, CA
16,210
Population
5,085
Households
3.2
Avg Household Size
38
Median Age
29%
College-Educated
84%
High-School Grad
153.5 sq mi
ZIP Area
106
Density / Sq Mi
$114,359
Median Household Income
$57,419
Median Earnings
$2,299
Median Rent
$869,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Investment property - 4,220 SQFT 2 Unit Apartment Building in TRACY, CA
Where is this investment property located?
The property is located at 23551 Rancho Ramon Ct Tracy, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Living Area; 4,220 SqFt.
