Turnkey 4-Unit Residential
22 S Lake Dr Antioch, CA 94509
22 S Lake Dr, Antioch, CA, 94509
$1,049,000
For Sale
$1,049,000
Four fully remodeled 2-bedroom units include off-street parking and separate gas and electric paid by tenants.
Property Size3,300 SF
Lot Size0.16 Acres
Price / SF$317.88
Days on Market9
Property Features for 22 S Lake Dr
General Information
- Standard status
- Active
- Size
- 3,300 SF
- Lot size
- 0.16 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1968
Listing agency
The Pinza Group Inc
(510) 822-1331
Listed by
David Howarth · License #01360348
(510) 822-1331
Source
Elliman
Added: Jul 14 Updated: Jul 15 at 1:52AM Checked: Jul 21 at 9:02AM
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 The Pinza Group Inc
Investment Insights
Based on property information with market context.
This is a 4-unit apartment complex originally built in 1968, offered as a turnkey residential income property. The unit mix consists of four 2-bedroom, 1-bath apartments. Three units are currently occupied, and one unit is vacant, providing flexibility for an owner-occupant or a new tenant upon lease-up.
The property includes up to eight off-street parking spaces. Tenant-paid utilities are supported by upgraded electric meters, with tenants responsible for gas and electric expenses.
Interior improvements include newer kitchens and bathrooms, new flooring, double-pane windows, and fresh paint. The exterior is described as being in great condition, with mature landscaping. The property has no deferred maintenance noted in the materials provided, and it is presented as relatively straightforward to manage.
The property includes up to eight off-street parking spaces. Tenant-paid utilities are supported by upgraded electric meters, with tenants responsible for gas and electric expenses.
Interior improvements include newer kitchens and bathrooms, new flooring, double-pane windows, and fresh paint. The exterior is described as being in great condition, with mature landscaping. The property has no deferred maintenance noted in the materials provided, and it is presented as relatively straightforward to manage.
Key Highlights
- 4‑unit apartment complex built in 1968 with approx. 3,300 SF of rental space on a 6,860 SF lot
- Unit mix: four 2 bed / 1 bath units; 3 units currently occupied and the 4th unit is vacant
- All units are fully remodeled with newer kitchens and bathrooms, new flooring, new paint, and double pane windows
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.1k | $25.80 |
| − Vacancy | −$4.4k | −$1.34 |
| EGI | $80.7k | $24.46 |
| − OpEx | −$24.2k | −$7.34 |
| NOI | $56.5k | $17.12 |
3,300 SF · lease $25.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$807.1K
$706.2K – $941.7K
NOI $56,499 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$750.2K
$656.4K – $875.2K
NOI $52,514 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$999.6K
$874.7K – $1.17M
NOI $69,973 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four fully remodeled 2-bedroom units include off-street parking and separate gas and electric paid by tenants.
Where is this quadplex located?
The property is located at 22 S Lake Dr Antioch, CA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: 4‑unit apartment complex built in 1968 with approx. 3,300 SF of rental space on a 6,860 SF lot; Unit mix: four 2 bed / 1 bath units; 3 units currently occupied and the 4th unit is vacant; All units are fully remodeled with newer kitchens and bathrooms, new flooring, new paint, and double pane windows
