Fourplex With Detached
New
For Sale
$2,350,000
1559 Mercy St, Mountain View, CA 94041
Four-unit residential property with private parking, on-site laundry, and a separate three-bedroom residence.
Property Size3,406 SF
Lot Size0.20 Acres
Price / SF$689.96
Days on Market2
Property Features for 1559 Mercy St
General Information
Standard status
Active
Size
3,406 SF
Lot size
0.20 Acres
Property subtype
Multifamily
Units
Unit Mix
3 x 2BR, 1 x 3BR
Multifamily Units
4
Additional Details
Cap Rate
3.79%
Amenities
private parking
on-site laundry
Incredible Mountain View Owner-User Opportunity
Recent Capital Improvements
Desirable Unit Mix
Unprecedented Rent Growth
Building Details
Year Built
1962
Listing Agency:
Palo Alto Office
Listed By:
Jake Clyne · License #License(s): CA: 02203246
(650) 391-1864
Source:
Marcusmillichap
Added: Sep 5
Last Checked: Sep 6 at 3:46AM
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 Palo Alto Office
Investment Insights
Based on property information with market context.
This fourplex contains approximately 3,406 square feet of gross building area on an 8,748-square-foot parcel. The unit mix includes three two-bedroom apartments and a detached three-bedroom owner's unit. Private parking and on-site laundry serve the residents, while the improvements date to 1962.
The property is located at 1559 Mercy St in Mountain View, California, near Downtown Mountain View and San Antonio Shopping Center. Downtown Mountain View and Castro Street provide more than 20 retailers and 70 restaurants, along with the City Civic Center and Center for the Performing Arts. The surrounding area also includes major technology employers and access to transportation corridors, dining, shopping, and entertainment.
The property is located at 1559 Mercy St in Mountain View, California, near Downtown Mountain View and San Antonio Shopping Center. Downtown Mountain View and Castro Street provide more than 20 retailers and 70 restaurants, along with the City Civic Center and Center for the Performing Arts. The surrounding area also includes major technology employers and access to transportation corridors, dining, shopping, and entertainment.
Key Highlights
- Four‑unit configuration with three two‑bedroom units and one detached three‑bedroom owner's unit
- Approximately 3,406 square feet of gross building area
- 8,748‑square‑foot parcel
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
$75,927
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
3.23%
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%
$1,518,540
$1.5M
Cap Rate 7%
$1,084,671
$1.1M
Cap Rate 9%
$843,633
$843.6K
Market Conditions
NOI Build-Up for 3,406 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
$114.4K $33.60/SF
− Vacancy
−$6.0K −$1.75/SF
EGI
$108.5K $31.85/SF
− OpEx
−$32.5K −$9.55/SF
NOI
$75.9K $22.29/SF
Area
Santa Clara County, CA
Vacancy
5.22%
Lease Rate
$33.60 /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%
$1,518,540
Cap Rate 7%
$1,084,671
Cap Rate 9%
$843,633
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$949.1K – $1.27M
NOI $75,927 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$924.9K
$809.3K – $1.08M
NOI $64,741 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $143,938 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,575
Businesses Nearby
Explore this area
Business Placement
Demographics for 94041, CA
15,604
Population
7,383
Households
2.1
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
1.6 sq mi
ZIP Area
9,753
Density / Sq Mi
$168,980
Median Household Income
$96,520
Median Earnings
$2,927
Median Rent
$2,000,001
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?
Quadplex - Four-unit residential property with private parking, on-site laundry, and a separate three-bedroom residence.
Where is this quadplex located?
The property is located at 1559 Mercy St Mountain View, CA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Four‑unit configuration with three two‑bedroom units and one detached three‑bedroom owner's unit; Approximately 3,406 square feet of gross building area; 8,748‑square‑foot parcel
