Listing Agency: Symmetry Real Estate k***@karenhorealtor.com Show Phone

Listed By: Karen Ho

Source: Moodyscre

Added: Jun 23, 2025 Changed: Jul 6 Last Checked: Jul 21 at 4:46AM

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Investment Insights

Based on property information with market context.

Located in Piedmont, 150 Monticello Ave is a fully occupied 6-unit property. This investment property is situated among single-family residences. The building features a landscaped entry, brick stairs, a communal back patio, 5 covered parking spots, and shared laundry facilities. The unit mix includes one 2-bedroom/2-bathroom unit, three 2-bedroom/1-bathroom units, and two 1-bedroom/1-bathroom units. The property is located near schools, Piedmont Avenue dining, and shops. The property size is 5078 square feet.

Key Highlights

• Prestigious Piedmont location among grand single‑family residences.
• Turnkey, fully occupied 6‑unit investment property.
• Located in a highly desirable East Bay zip code.

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

$73,560

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

2.94%

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%

$1,471,200 $1.5M

Cap Rate 7%

$1,050,857 $1.1M

Cap Rate 9%

$817,333 $817.3K

Market Conditions

NOI Build-Up for 5,078 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

$142.0K $27.96/SF

− Vacancy

−$8.2K −$1.62/SF

EGI

$133.7K $26.34/SF

− OpEx

−$60.2K −$11.85/SF

NOI

$73.6K $14.49/SF

Area

Alameda County, CA

Vacancy

5.80%

Lease Rate

$27.96 /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%

$1,471,200

Cap Rate 7%

$1,050,857

Cap Rate 9%

$817,333

Alternative Uses

Best Use

Apartment 5plus

$1.05M

$919.5K – $1.23M (±1% cap)

NOI $73,560 @ 7.0% cap · market cap 2.94%

Second Best

—

—

no second resolved use

Theoretical Best

Retail

$23.15M

$20.26M – $27.01M (±1% cap)

NOI $1,620,524 @ 7.0% cap · market cap 64.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick HVAC Service Building Supply Big Box & Wholesale Store Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

867

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Fully occupied 6-unit property in desirable Piedmont location.

Where is this apartment building located?

The property is located at 150 Monticello Ave Piedmont, CA.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: Prestigious Piedmont location among grand single‑family residences.; Turnkey, fully occupied 6‑unit investment property.; Located in a highly desirable East Bay zip code.