Auburn Multifamily Investment
For Sale
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163 Pleasant Ave, Auburn, CA 95603
Completely renovated 8-unit apartment community in historic Auburn.
Property Size6,214 SF
Price / SF$313.81
Days on Market181
Property Features for 163 Pleasant Ave
General Information
Standard status
Active
Size
6,214 SF
Property subtype
Multifamily
Zoning
r-3
Net Operating Income
$107,974
Building Details
Year Built
1973
Year Renovated
2024
Buildings
1
Stories
2
Units
8
Listing Agency:
South Coast Commercial Inc
Listed By:
Tim Swanston · License #CA 01887506
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 12 at 12:50PM
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 South Coast Commercial Inc
Investment Insights
Based on property information with market context.
The property at 163 Pleasant Ave is an 8-unit apartment community situated in Auburn. All units feature a 2-bedroom, 1-bathroom layout. The property has undergone complete renovation, including a new roof, new windows, and mini-split HVAC systems installed in all units. Six of the eight units have been fully remodeled with new flooring, kitchen cabinets, kitchen countertops, and bathroom vanities. The decks are SB 721 compliant, and the electrical panels are General Electric. The location provides access to boutiques, restaurants, local breweries, and community events. Auburn is known for its Gold Rush history and cultural scene, with museums and landmarks.
Key Highlights
- Completely renovated with new roof, new windows, and mini‑split HVAC in all units.
- Six of eight units completely remodeled with new flooring, kitchen cabinets, countertops, and bathroom vanities.
- Prime location in the heart of Auburn**, near Old Town Auburn's Main Street, boutiques, restaurants, and breweries.
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
$95,729
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
4.91%
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%
$1,914,580
$1.9M
Cap Rate 7%
$1,367,557
$1.4M
Cap Rate 9%
$1,063,656
$1.1M
Market Conditions
NOI Build-Up for 6,214 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
$184.2K $29.64/SF
− Vacancy
−$10.1K −$1.63/SF
EGI
$174.1K $28.01/SF
− OpEx
−$78.3K −$12.60/SF
NOI
$95.7K $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%
$1,914,580
Cap Rate 7%
$1,367,557
Cap Rate 9%
$1,063,656
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $95,729 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.10M – $2.81M
NOI $168,394 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
542
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 - Completely renovated 8-unit apartment community in historic Auburn.
Where is this apartment building located?
The property is located at 163 Pleasant Ave Auburn, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Completely renovated with new roof, new windows, and mini‑split HVAC in all units.; Six of eight units **completely remodeled with new flooring, kitchen cabinets, countertops, and bathroom vanities.**; Prime location in the heart of Auburn**, near Old Town Auburn's Main Street, boutiques, restaurants, and breweries.
