Stockton Triplex with Development
For Sale
$520,000
2915 Pixie Drive, Stockton, CA 95203
Triplex with garages, in-unit laundry, and adjacent vacant lot.
Property Size2,450 SF
Price / SF$212.24
Days on Market544
Property Features for 2915 Pixie Drive
General Information
Standard status
Active
Size
2,450 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,600
Building Details
Year Built
1979
Listing Agency:
Intero Real Estate Services
(408) 979-5900
Listed By:
Omar Paz · License #01458162
(408) 677-1010
Source:
Exitrealty
Added: Apr 1, 2025
Changed: Sep 1
Last Checked: Sep 15 at 6:35AM
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 Intero Real Estate Services
Investment Insights
Based on property information with market context.
This triplex features three units, each containing two bedrooms. All units are currently rented on a month-to-month basis. The current rents are $960, $900, and $900, which are below market value due to long-term tenants. Each unit includes a one-car garage space and its own washer and dryer. The property includes a vacant lot adjacent to the triplex on the left side, offering potential for extra storage, RV parking, or additional construction, subject to city approval. The property has a bike score of 48, indicating it is somewhat bikeable, a walk score of 0, indicating car-dependent, and a transit score of 21, indicating minimal transit options.
Key Highlights
- Triplex with positive cash flow.
- Each unit includes a 1‑car garage and in‑unit washer/dryer.
- Vacant lot adjacent to the triplex offers development potential (subject to city approval).
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
$34,299
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
6.60%
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%
$685,980
$686.0K
Cap Rate 7%
$489,986
$490.0K
Cap Rate 9%
$381,100
$381.1K
Market Conditions
NOI Build-Up for 2,450 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
$52.9K $21.60/SF
− Vacancy
−$3.9K −$1.60/SF
EGI
$49.0K $20.00/SF
− OpEx
−$14.7K −$6.00/SF
NOI
$34.3K $14.00/SF
Area
Stockton, CA
Vacancy
7.41%
Lease Rate
$21.60 /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%
$685,980
Cap Rate 7%
$489,986
Cap Rate 9%
$381,100
Alternative Uses
Best Use
Multifamily LT 5
$490.0K
$428.7K – $571.7K
NOI $34,299 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$426.0K
$372.7K – $497.0K
NOI $29,817 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$662.5K
$579.7K – $773.0K
NOI $46,378 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Explore this area
Business Placement
Demographics for 95203, CA
18,064
Population
5,858
Households
3.1
Avg Household Size
34
Median Age
17%
College-Educated
69%
High-School Grad
6.2 sq mi
ZIP Area
2,914
Density / Sq Mi
$64,710
Median Household Income
$32,927
Median Earnings
$1,248
Median Rent
$349,800
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?
Triplex - Triplex with garages, in-unit laundry, and adjacent vacant lot.
Where is this triplex located?
The property is located at 2915 Pixie Drive Stockton, CA.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Triplex with positive cash flow.; Each unit includes a 1‑car garage and in‑unit washer/dryer.; Vacant lot adjacent to the triplex offers development potential (subject to city approval).
