Two-Duplex Residential Income
For Sale
$1,699,000
Pending
1342 Lincoln Ave, San Rafael, CA 94901
Two well-maintained duplex buildings offer four rental units with 2 bedrooms, 1 bathroom, and laundry areas.
Property Size4,520 SF
Days on Market22
Property Features for 1342 Lincoln Ave
General Information
Standard status
Pending
Size
4,520 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Building Details
Building Size
4,520 SF
Year Built
1940
Units
4
Listing Agency:
(415) 925-3208
Listed By:
Aileen Tong · License #01884175
(415) 925-3208
Source:
Elliman
Added: Jul 24
Changed: Aug 9
Last Checked: Aug 14 at 11:32AM
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 Aileen Tong
Investment Insights
Based on property information with market context.
This property features two duplex buildings on a single large lot, providing a total of four rental units. Each building contains two units, and every unit is configured with two bedrooms, one bathroom, and a dedicated laundry area. The buildings are described as very well maintained.
The lot size offers room for potential additional units. The property is identified as a walk-to-downtown location, with Walk Score and Bike Score ratings of 93 and 83, respectively, and a Transit Score of 56.
Overall, the asset presents a straightforward residential income setup with consistent unit layouts across both duplex buildings.
The lot size offers room for potential additional units. The property is identified as a walk-to-downtown location, with Walk Score and Bike Score ratings of 93 and 83, respectively, and a Transit Score of 56.
Overall, the asset presents a straightforward residential income setup with consistent unit layouts across both duplex buildings.
Key Highlights
- Year built 1940 duplex property with 4 total rental units (two duplex buildings).
- Each unit has 2 bedrooms, 1 bathroom, and a laundry area.
- Spacious single lot with lots of space for potential additional units.
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
$151,714
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
8.93%
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%
$3,034,280
$3.0M
Cap Rate 7%
$2,167,343
$2.2M
Cap Rate 9%
$1,685,711
$1.7M
Market Conditions
NOI Build-Up for 4,520 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
$230.5K $51.00/SF
− Vacancy
−$13.8K −$3.05/SF
EGI
$216.7K $47.95/SF
− OpEx
−$65.0K −$14.39/SF
NOI
$151.7K $33.57/SF
Area
Marin County, CA
Vacancy
5.98%
Lease Rate
$51.00 /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%
$3,034,280
Cap Rate 7%
$2,167,343
Cap Rate 9%
$1,685,711
Alternative Uses
Best Use
Multifamily LT 5
$2.17M
$1.90M – $2.53M
NOI $151,714 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$935.4K
$818.5K – $1.09M
NOI $65,477 @ 7.0% cap · market cap 3.85%
Theoretical Best
Specialty Retail
$22.08M
$19.32M – $25.76M
NOI $1,545,484 @ 7.0% cap · market cap 90.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,442
Businesses Nearby
Explore this area
Business Placement
Demographics for 94901, CA
43,338
Population
16,412
Households
2.6
Avg Household Size
40
Median Age
48%
College-Educated
82%
High-School Grad
13.1 sq mi
ZIP Area
3,308
Density / Sq Mi
$108,837
Median Household Income
$50,122
Median Earnings
$2,229
Median Rent
$1,369,500
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?
Duplex - Two well-maintained duplex buildings offer four rental units with 2 bedrooms, 1 bathroom, and laundry areas.
Where is this duplex located?
The property is located at 1342 Lincoln Ave San Rafael, CA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Year built 1940 duplex property with 4 total rental units (two duplex buildings).; Each unit has 2 bedrooms, 1 bathroom, and a laundry area.; Spacious single lot with lots of space for potential additional units.
