Tenant-Occupied Triplex with
For Sale
$445,000
713 S Main St, Willits, CA 95490
Triplex includes a studio plus two-bedroom units, with two dedicated parking spaces and tenant occupancy for immediate income.
Property Size1,650 SF
Days on Market49
Property Features for 713 S Main St
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Building Size
1,650 SF
Units
3
Tenancy
Multi
Listing Agency:
RE/MAX Gold - Selzer and Associates
(707) 354-2999
Listed By:
Karena Jolley · License #01482063
(707) 354-2999
Source:
Elliman
Added: Jul 12
Changed: Aug 14
Last Checked: Aug 26 at 10:33AM
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 - Selzer and Associates
Investment Insights
Based on property information with market context.
This triplex offers three income-producing units, consisting of one studio and two additional two-bedroom units. The larger units include a 2-bedroom, 2-bath configuration and a 2-bedroom, 1-bath configuration. All three units are currently tenant-occupied.
Two of the units include dedicated parking spaces, and the property also provides access to landscaped garden areas. The location is described as downtown Willits with convenient access to shopping, restaurants, and everyday services.
As presented, the property supports flexible ownership, including the option for an owner-occupant to live in one unit while collecting rent from the others. Seller financing is available depending on qualification and terms.
Two of the units include dedicated parking spaces, and the property also provides access to landscaped garden areas. The location is described as downtown Willits with convenient access to shopping, restaurants, and everyday services.
As presented, the property supports flexible ownership, including the option for an owner-occupant to live in one unit while collecting rent from the others. Seller financing is available depending on qualification and terms.
Key Highlights
- Triplex with 3 income‑producing units: 1 studio, 1 two‑bedroom/2‑bath, and 1 two‑bedroom/1‑bath
- All three units are currently tenant‑occupied for immediate rental income
- Two units include dedicated parking spaces
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
$15,258
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
3.43%
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%
$305,160
$305.2K
Cap Rate 7%
$217,971
$218.0K
Cap Rate 9%
$169,533
$169.5K
Market Conditions
NOI Build-Up for 1,650 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
$22.8K $13.80/SF
− Vacancy
−$972 −$0.59/SF
EGI
$21.8K $13.21/SF
− OpEx
−$6.5K −$3.96/SF
NOI
$15.3K $9.25/SF
Area
Mendocino County, CA
Vacancy
4.27%
Lease Rate
$13.80 /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%
$305,160
Cap Rate 7%
$217,971
Cap Rate 9%
$169,533
Alternative Uses
Best Use
Multifamily LT 5
$218.0K
$190.7K – $254.3K
NOI $15,258 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$200.6K
$175.5K – $234.0K
NOI $14,040 @ 7.0% cap · market cap 3.16%
Theoretical Best
Flex RnD
$616.9K
$539.8K – $719.7K
NOI $43,181 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 95490, CA
14,227
Population
6,077
Households
2.3
Avg Household Size
42
Median Age
23%
College-Educated
89%
High-School Grad
430.1 sq mi
ZIP Area
33
Density / Sq Mi
$67,069
Median Household Income
$44,362
Median Earnings
$1,243
Median Rent
$383,900
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?
Triplex - Triplex includes a studio plus two-bedroom units, with two dedicated parking spaces and tenant occupancy for immediate income.
Where is this triplex located?
The property is located at 713 S Main St Willits, CA.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Triplex with 3 income‑producing units: 1 studio, 1 two‑bedroom/2‑bath, and 1 two‑bedroom/1‑bath; All three units are currently tenant‑occupied for immediate rental income; Two units include dedicated parking spaces
