Mid-Rise Apartment
For Sale
$14,950,000
1400 Humphrey Dr, Suisun City, CA 94585
Autumn Oaks Apartments includes 12 two-story buildings on a 3.12-acre site with central pool, open parking, and onsite laundry.
Property Size88,612 SF
Lot Size3.12 Acres
Days on Market71
Property Features for 1400 Humphrey Dr
General Information
Standard status
Active
Size
88,612 SF
Lot size
3.12 Acres
Property subtype
Multifamily
Occupancy
96%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
6.01%
Amenities
pool
laundry rooms
rental office
Superior unit mix featuring oversized floorplans averaging 983 SF, including select units with private patios.
Pricing Metrics: 7.01% Current / 7.82% Market CAP Rate / $239.97 per square foot / 9.12 Current / 8.38 Market GRM.
Strong growth story near the planned California Forever development, including the 2,100-acre Solano Foundry and 170,000 proposed homes, driving future housing demand.
Excellent commuter location between Sacramento and the Bay Area with convenient access to major employment centers.
Just 4.5 miles from Travis Air Force Base, a major regional employer with over 10,000 jobs.
Well-maintained garden-style community on 3.12 acres featuring ample parking, a pool, two laundry facilities, and a leasing office.
Significant recent capital improvements including new composite roofs, a resurfaced pool, and renovated units throughout the property.
Building Details
Building Size
88,612 SF
Year Built
1978
Stories
2
Units
62
Tenancy
Multi
Listing Agency:
Marcus & Millichap - San Francisco
Listed By:
Jon Holmquist · License #License(s): CA: 01257479
(415) 625-2117
Source:
Marcusmillichap
Added: Jun 28
Changed: Aug 13
Last Checked: Sep 5 at 3:33AM
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 Marcus & Millichap - San Francisco
Investment Insights
Based on property information with market context.
Autumn Oaks Apartments is a residential income property built in 1978 featuring spacious one-, two-, and three-bedroom apartment homes and townhomes. The complex includes twelve two-story buildings and is set on a 3.12-acre site across two parcels with well-manicured landscaping.
Improvements noted in the property records include new pitched composite roofs, a renovated pool area, and unit upgrades upon turnover. Common areas and services include open parking to the sides, a central pool with lawn area, two onsite laundry rooms, and a dedicated rental office toward the front entrance.
Unit interiors are described as being in superior condition, with turnover benefits including full kitchen remodels featuring new cabinets, countertops, and stainless-steel appliances. Amenities listed include garbage disposals, dishwashers, electric stoves, gas wall heaters, individual A/C units, and ceiling fans in most units. The property is separately metered for PG&E, with RUBS reimbursement in place, and is professionally managed with management located onsite and offsite.
Improvements noted in the property records include new pitched composite roofs, a renovated pool area, and unit upgrades upon turnover. Common areas and services include open parking to the sides, a central pool with lawn area, two onsite laundry rooms, and a dedicated rental office toward the front entrance.
Unit interiors are described as being in superior condition, with turnover benefits including full kitchen remodels featuring new cabinets, countertops, and stainless-steel appliances. Amenities listed include garbage disposals, dishwashers, electric stoves, gas wall heaters, individual A/C units, and ceiling fans in most units. The property is separately metered for PG&E, with RUBS reimbursement in place, and is professionally managed with management located onsite and offsite.
Key Highlights
- 12 two‑story apartment buildings on a 3.12‑acre site across two parcels
- 1978 construction with all new pitched composite roofs and a renovated pool area
- Central sparkling pool with a large central lawn area and open parking to the sides
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
$1,344,662
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
8.99%
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%
$26,893,240
$26.9M
Cap Rate 7%
$19,209,457
$19.2M
Cap Rate 9%
$14,940,689
$14.9M
Market Conditions
NOI Build-Up for 88,612 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
$2.55M $28.80/SF
− Vacancy
−$107.2K −$1.21/SF
EGI
$2.44M $27.59/SF
− OpEx
−$1.10M −$12.42/SF
NOI
$1.34M $15.17/SF
Area
Solano County, CA
Vacancy
4.20%
Lease Rate
$28.80 /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%
$26,893,240
Cap Rate 7%
$19,209,457
Cap Rate 9%
$14,940,689
Alternative Uses
Best Use
Apartment 5plus
$19.21M
$16.81M – $22.41M
NOI $1,344,662 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.57M
$25.87M – $34.50M
NOI $2,069,863 @ 7.0% cap · market cap 13.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 94585, CA
29,764
Population
9,849
Households
3
Avg Household Size
37
Median Age
21%
College-Educated
89%
High-School Grad
106.2 sq mi
ZIP Area
280
Density / Sq Mi
$96,713
Median Household Income
$49,379
Median Earnings
$2,156
Median Rent
$551,400
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?
Apartment building - Autumn Oaks Apartments includes 12 two-story buildings on a 3.12-acre site with central pool, open parking, and onsite laundry.
Where is this apartment building located?
The property is located at 1400 Humphrey Dr Suisun City, CA.
What is the asking price?
The asking price for this property is $14,950,000.
What are key features of this property?
This property features: 12 two‑story apartment buildings on a 3.12‑acre site across two parcels; 1978 construction with all new pitched composite roofs and a renovated pool area; Central sparkling pool with a large central lawn area and open parking to the sides
