9-Unit Apartment
New
For Sale
$1,300,000
153 Kenmass Avenue, Auburn, CA 95603
Multifamily property with nine residential units and 1933 construction.
Property Size4,246 SF
Price / SF$306.17
Days on Market3
Property Features for 153 Kenmass Avenue
General Information
Standard status
Active
Size
4,246 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
9
Building Details
Year Built
1933
Listing Agency:
Corcoran Icon Properties
(650) 207-5253
Listed By:
Steve Belluomini · License #01095848
(650) 207-5253
Source:
Exitrealty
Added: Aug 12
Changed: Aug 14
Last Checked: Aug 14 at 6:59AM
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 Corcoran Icon Properties
Investment Insights
Based on property information with market context.
This 9-unit apartment property contains 4,246 square feet and was built in 1933. The asset is classified as an apartment building within the multifamily property category.
Located at 153 Kenmass Avenue in Auburn, California 95603, the property offers a defined residential income configuration in an established building.
Located at 153 Kenmass Avenue in Auburn, California 95603, the property offers a defined residential income configuration in an established building.
Key Highlights
- 9‑unit apartment building
- 4,246 square feet of property size
- Built in 1933
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
$65,411
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
5.03%
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%
$1,308,220
$1.3M
Cap Rate 7%
$934,443
$934.4K
Cap Rate 9%
$726,789
$726.8K
Market Conditions
NOI Build-Up for 4,246 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
$125.9K $29.64/SF
− Vacancy
−$6.9K −$1.63/SF
EGI
$118.9K $28.01/SF
− OpEx
−$53.5K −$12.60/SF
NOI
$65.4K $15.41/SF
Area
Placer County, CA
Vacancy
5.50%
Lease Rate
$29.64 /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%
$1,308,220
Cap Rate 7%
$934,443
Cap Rate 9%
$726,789
Alternative Uses
Best Use
Apartment 5plus
$934.4K
$817.6K – $1.09M
NOI $65,411 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $115,063 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,961
Businesses Nearby
Explore this area
Business Placement
Demographics for 95603, CA
28,021
Population
12,538
Households
2.2
Avg Household Size
49
Median Age
33%
College-Educated
92%
High-School Grad
35.8 sq mi
ZIP Area
783
Density / Sq Mi
$80,851
Median Household Income
$44,207
Median Earnings
$1,451
Median Rent
$613,900
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 - Multifamily property with nine residential units and 1933 construction.
Where is this apartment building located?
The property is located at 153 Kenmass Avenue Auburn, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 9‑unit apartment building; 4,246 square feet of property size; Built in 1933
