Single-Story Legal Duplex with Separate
For Sale
$1,000,000
772 Walnut St, San Bruno, CA 94066
Remodeled two-unit duplex with in-unit laundry, enclosed garages, dual-pane windows, and separate utility metering for each unit.
Property Size1,362 SF
Days on Market38
Property Features for 772 Walnut St
General Information
Standard status
Active
Size
1,362 SF
Property subtype
Multifamily
Occupancy
97%
Amenities
Turnkey Duplex
Tenants Pay All Utilities
Steps from Bart & Caltrain
Building Details
Building Size
1,362 SF
Units
2
Listing Agency:
Marcus & Millichap
Listed By:
Sam Runco · License #License(s): CA: 01977683
(415) 625-2159
Source:
Marcusmillichap
Added: Jul 30
Changed: Aug 8
Last Checked: Sep 5 at 3:53AM
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
Investment Insights
Based on property information with market context.
772-774 Walnut Street is a well-maintained, single-story legal duplex totaling approximately 1,122 square feet on a 2,500 square foot lot in San Bruno. Built in 1959, the property includes two updated units: a one-bedroom front unit of approximately 561 square feet and a larger rear unit of approximately 801 square feet with one bedroom plus a fully insulated and weather-sealed 240 square foot bonus room currently utilized as a second bedroom. Both units include updated kitchens and bathrooms, in-unit laundry, skylights, and dual-pane windows.
Each unit is fully separately metered for electric, gas, and water, with tenants responsible for utilities, which can help minimize owner operating expenses. The property also features a private rear patio and yard for the rear unit, an enclosed garage for each unit, and a wireless security system. Additional amenities include four open parking spaces, off-street parking, fenced yards, and garden areas.
With a 4.36% cap rate, 772-774 Walnut Street offers a straightforward two-unit setup with independently metered utilities and low-maintenance single-story living.
Each unit is fully separately metered for electric, gas, and water, with tenants responsible for utilities, which can help minimize owner operating expenses. The property also features a private rear patio and yard for the rear unit, an enclosed garage for each unit, and a wireless security system. Additional amenities include four open parking spaces, off-street parking, fenced yards, and garden areas.
With a 4.36% cap rate, 772-774 Walnut Street offers a straightforward two-unit setup with independently metered utilities and low-maintenance single-story living.
Key Highlights
- Approximately 1,122 SF legal duplex on a 2,500 SF lot
- Two remodeled units: 561 SF front 1BR and 801 SF rear 1BR plus 240 SF bonus room
- Built in 1959, single‑story layout
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
$39,579
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
3.96%
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%
$791,580
$791.6K
Cap Rate 7%
$565,414
$565.4K
Cap Rate 9%
$439,767
$439.8K
Market Conditions
NOI Build-Up for 1,362 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
$60.5K $44.40/SF
− Vacancy
−$3.9K −$2.89/SF
EGI
$56.5K $41.51/SF
− OpEx
−$17.0K −$12.45/SF
NOI
$39.6K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /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%
$791,580
Cap Rate 7%
$565,414
Cap Rate 9%
$439,767
Alternative Uses
Best Use
Multifamily LT 5
$565.4K
$494.7K – $659.7K
NOI $39,579 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$529.6K
$463.4K – $617.8K
NOI $37,070 @ 7.0% cap · market cap 3.71%
Theoretical Best
Warehouse
$1.08M
$946.6K – $1.26M
NOI $75,730 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 94066, CA
44,147
Population
16,736
Households
2.6
Avg Household Size
40
Median Age
44%
College-Educated
90%
High-School Grad
6.1 sq mi
ZIP Area
7,237
Density / Sq Mi
$135,976
Median Household Income
$66,057
Median Earnings
$2,696
Median Rent
$1,199,400
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?
Duplex - Remodeled two-unit duplex with in-unit laundry, enclosed garages, dual-pane windows, and separate utility metering for each unit.
Where is this duplex located?
The property is located at 772 Walnut St San Bruno, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Approximately 1,122 SF legal duplex on a 2,500 SF lot; Two remodeled units: 561 SF front 1BR and 801 SF rear 1BR plus 240 SF bonus room; Built in 1959, single‑story layout
