Three-Home Multifamily on Corner
For Sale
$1,299,000
1241 Parker Ave, Tracy, CA 95376
MULTI_FAMILY - Tracy, CA
Property Size4,638 SF
Lot Size0.01 Acres
Price / SF$280.08
Days on Market157
Property Features for 1241 Parker Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
11
Full bathrooms
11
Rooms
Bathroom 10, Bedroom 7, Bathroom 6, Bathroom 1, Bedroom 2, Bedroom 9, Bathroom 7, Bedroom 4, Bathroom 3, Bathroom 5, Bedroom 5, Bathroom 4, Bedroom 1, Bathroom 11, Bedroom 8, Bedroom 6, Bathroom 8, Bedroom 3, Bathroom 9, Bathroom 2
Parking features
Parking Lot, Guest
Exterior features
Back Yard, Front Yard
Fencing
Fenced
Lot features
Corner Lot, Private
Directions
11th Street to Parker
Subdivision
Listing
Standard status
Active
APN
233530030000
Size
4,638 SF
Lot size
0.01 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace, Forced Air
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1918
Number of units
3
Flooring type
Carpet, Vinyl
Building materials
Stucco, Wood Siding
Roof type
Composition
Listing Agency:
Legacy Real Estate & Assoc. · ERA Real Estate
(510) 744-3500
Listed By:
Kathleen Minser
(925) 858-6225
Added: Mar 6
Changed: Aug 3
Last Checked: Aug 10 at 6:06PM
MLS# 41126281
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property features three homes on three separate parcels and is described as a corner lot. The addresses included are 1241 Parker, 1243 Parker, and 1245 Parker Ave.
1241 Parker Ave is reported as a 3-bedroom, 2-bath home with 1,170 square feet and an attached garage. 1243 Parker Ave is reported as a 3-bedroom, 2-bath home with 1,730 square feet and a detached garage. 1245 Parker Ave is reported as a 2-bedroom, 2-bath home with 1,730 square feet and a detached garage. The lot size is unverified, and buyers are encouraged to verify lot size, property condition, and square footage.
The homes are constructed with stucco and wood siding and are listed with carpet and vinyl flooring. Heating is provided via wall furnace and forced air, and cooling includes central air along with wall/window and window units, plus ceiling fans. The property lists public water and public sewer, a composition roof, fenced exterior space, and parking described as a parking lot with guest parking. Year built is listed as 1918.
1241 Parker Ave is reported as a 3-bedroom, 2-bath home with 1,170 square feet and an attached garage. 1243 Parker Ave is reported as a 3-bedroom, 2-bath home with 1,730 square feet and a detached garage. 1245 Parker Ave is reported as a 2-bedroom, 2-bath home with 1,730 square feet and a detached garage. The lot size is unverified, and buyers are encouraged to verify lot size, property condition, and square footage.
The homes are constructed with stucco and wood siding and are listed with carpet and vinyl flooring. Heating is provided via wall furnace and forced air, and cooling includes central air along with wall/window and window units, plus ceiling fans. The property lists public water and public sewer, a composition roof, fenced exterior space, and parking described as a parking lot with guest parking. Year built is listed as 1918.
Key Highlights
- Three homes on three separate parcels on a corner lot
- 1241 Parker Ave: 3 bed, 2 bath, 1,170 SF, attached garage
- 1243 Parker Ave: 3 bed, 2 bath, 1,730 SF, detached garage
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
$57,010
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
4.39%
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%
$1,140,200
$1.1M
Cap Rate 7%
$814,429
$814.4K
Cap Rate 9%
$633,444
$633.4K
Market Conditions
NOI Build-Up for 4,638 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
$108.0K $23.28/SF
− Vacancy
−$4.3K −$0.93/SF
EGI
$103.7K $22.35/SF
− OpEx
−$46.6K −$10.06/SF
NOI
$57.0K $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 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%
$1,140,200
Cap Rate 7%
$814,429
Cap Rate 9%
$633,444
Alternative Uses
Best Use
Apartment 5plus
$814.4K
$712.6K – $950.2K
NOI $57,010 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.2K – $1.19M
NOI $71,295 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,404
Businesses Nearby
Explore this area
Business Placement
Demographics for 95376, CA
53,781
Population
17,270
Households
3.1
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.6 sq mi
ZIP Area
7,076
Density / Sq Mi
$103,493
Median Household Income
$49,078
Median Earnings
$2,023
Median Rent
$588,200
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 - Three separate homes on three parcels with fenced yards and attached or detached garages in Tracy.
Where is this multifamily property located?
The property is located at 1241 Parker Ave Tracy, CA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three homes on three separate parcels on a corner lot; 1241 Parker Ave: 3 bed, 2 bath, 1,170 SF, attached garage; 1243 Parker Ave: 3 bed, 2 bath, 1,730 SF, detached garage
