Updated Duplex with Spacious
For Sale
$869,000
141-143 Gilbert Ct, Martinez, CA 94553
Two-unit property with renovated interiors, private patios, deep garages, and convenient Highway 4 access.
Property Size1,767 SF
Price / SF$491.79
Days on Market14
Property Features for 141-143 Gilbert Ct
General Information
Standard status
Active
Size
1,767 SF
Total Parking Spaces
2
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
Unit 141 has not been updated
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
washer/dryer hookups
backyards
patios
RV/boat parking
Building Details
Year Built
1965
Buildings
1
Listing Agency:
Key Realty
(925) 381-7872
Listed By:
Melinda Byrne · License #00933883
(925) 381-7872
Source:
Exitrealty
Added: Aug 8
Changed: Aug 21
Last Checked: Aug 21 at 4:18AM
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 Key Realty
Investment Insights
Based on property information with market context.
This 1965 duplex at 141-143 Gilbert Ct includes 1,767 square feet across two units. Unit 143 features quartz countertops, new lower kitchen cabinets, a new sink and refrigerator, along with updated flooring and bathroom finishes completed in 2024. Both units have new water heaters, spacious kitchens and dining areas, bright living rooms, deep single-car garages, and washer and dryer hookups. Each residence also offers a backyard with a patio; Unit 143 includes additional room for RV or boat parking.
Set in Alhambra Valley, the property is near hiking trails and John Swett Elementary School, with Highway 4 providing convenient regional access. Downtown and Virginia Hills are also nearby. Unit 141 remains in its existing condition, while the two-unit layout provides the option to occupy one residence and rent the other, subject to applicable requirements.
Set in Alhambra Valley, the property is near hiking trails and John Swett Elementary School, with Highway 4 providing convenient regional access. Downtown and Virginia Hills are also nearby. Unit 141 remains in its existing condition, while the two-unit layout provides the option to occupy one residence and rent the other, subject to applicable requirements.
Key Highlights
- 1,767 SF duplex built in 1965
- Unit 143 updated with quartz countertops, lower cabinets, sink, refrigerator, bathroom finishes, and flooring in 2024
- Both units have new water heaters and deep single‑car garages with washer and dryer hookups
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
$30,253
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
3.48%
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%
$605,060
$605.1K
Cap Rate 7%
$432,186
$432.2K
Cap Rate 9%
$336,144
$336.1K
Market Conditions
NOI Build-Up for 1,767 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
$45.6K $25.80/SF
− Vacancy
−$2.4K −$1.34/SF
EGI
$43.2K $24.46/SF
− OpEx
−$13.0K −$7.34/SF
NOI
$30.3K $17.12/SF
Area
Contra Costa County, CA
Vacancy
5.20%
Lease Rate
$25.80 /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%
$605,060
Cap Rate 7%
$432,186
Cap Rate 9%
$336,144
Alternative Uses
Best Use
Multifamily LT 5
$432.2K
$378.2K – $504.2K
NOI $30,253 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$401.3K
$351.1K – $468.2K
NOI $28,089 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$667.9K
$584.4K – $779.3K
NOI $46,755 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 94553, CA
49,756
Population
19,626
Households
2.5
Avg Household Size
42
Median Age
42%
College-Educated
94%
High-School Grad
61.6 sq mi
ZIP Area
808
Density / Sq Mi
$121,023
Median Household Income
$70,337
Median Earnings
$2,247
Median Rent
$781,400
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 - Two-unit property with renovated interiors, private patios, deep garages, and convenient Highway 4 access.
Where is this duplex located?
The property is located at 141-143 Gilbert Ct Martinez, CA.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: 1,767 SF duplex built in 1965; Unit 143 updated with quartz countertops, lower cabinets, sink, refrigerator, bathroom finishes, and flooring in 2024; Both units have new water heaters and deep single‑car garages with washer and dryer hookups
