Triplex with Updated Unit
For Sale
$1,595,000
154-156 2nd Avenue, Daly City, CA 94014
Three-unit income property with new flooring in two units, offered for sale.
Property Size3,281 SF
Price / SF$486.13
Days on Market158
Property Features for 154-156 2nd Avenue
General Information
Standard status
Active
Size
3,281 SF
Total Parking Spaces
1
Property subtype
Residential Income
Zoning
R20000
Lease Term
Month To Month
Additional Details
Multifamily Units
3
Amenities
Other
Washer, Disposal, Washer/Dryer, Dishwasher, Range, Oven, Refrigerator, Trash Compactor
Fenced
Attached, On Street, Other
Building Details
Building Size
3,281 SF
Year Built
1988
Buildings
1
Stories
2
Listing Agency:
Arcillas Realty
Listed By:
Freddie Arcillas · License #01256953
(415) 307-9926
Source:
Evrealestate
Added: Apr 1
Changed: Sep 4
Last Checked: Aug 15 at 4:27AM
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 Arcillas Realty
Investment Insights
Based on property information with market context.
This for-sale triplex features three residential units, including new flooring in two of the units. The property’s three-unit layout supports an owner-occupancy setup in one unit while renting the other two units.
Located at 154-156 2nd Avenue in Daly City, the property is described as within walking distance to schools, a bank, restaurants, a church, and a bus line.
As an income-focused residential property, this asset is positioned for buyers looking to own a multi-unit building with unit-level updates already completed in part of the interior.
Located at 154-156 2nd Avenue in Daly City, the property is described as within walking distance to schools, a bank, restaurants, a church, and a bus line.
As an income-focused residential property, this asset is positioned for buyers looking to own a multi-unit building with unit-level updates already completed in part of the interior.
Key Highlights
- Three‑unit income property built in 1988
- New flooring in 2 of the 3 units
- Walking distance to schools, bank, restaurants, church, and bus line
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
$73,701
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
4.62%
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%
$1,474,020
$1.5M
Cap Rate 7%
$1,052,871
$1.1M
Cap Rate 9%
$818,900
$818.9K
Market Conditions
NOI Build-Up for 3,281 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
$112.2K $34.20/SF
− Vacancy
−$6.9K −$2.11/SF
EGI
$105.3K $32.09/SF
− OpEx
−$31.6K −$9.63/SF
NOI
$73.7K $22.46/SF
Area
Daly City, CA
Vacancy
6.17%
Lease Rate
$34.20 /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%
$1,474,020
Cap Rate 7%
$1,052,871
Cap Rate 9%
$818,900
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$921.3K – $1.23M
NOI $73,701 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$937.1K
$820.0K – $1.09M
NOI $65,600 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.44M
$1.26M – $1.69M
NOI $101,119 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,488
Businesses Nearby
Explore this area
Business Placement
Demographics for 94014, CA
48,677
Population
15,643
Households
3.1
Avg Household Size
39
Median Age
33%
College-Educated
84%
High-School Grad
6.4 sq mi
ZIP Area
7,606
Density / Sq Mi
$115,513
Median Household Income
$49,144
Median Earnings
$2,089
Median Rent
$979,500
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?
Triplex - Three-unit income property with new flooring in two units, offered for sale.
Where is this triplex located?
The property is located at 154-156 2nd Avenue Daly City, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Three‑unit income property built in 1988; New flooring in 2 of the 3 units; Walking distance to schools, bank, restaurants, church, and bus line
