Two-Home Multifamily
For Sale
$520,000
18368 Harmony Place, Grass Valley, CA 95949
Separate residences offer flexible living arrangements, individual driveways, and distinct outdoor spaces on a wooded rural property.
Property Size1,440 SF
Price / SF$361.11
Days on Market54
Property Features for 18368 Harmony Place
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Land
Building Details
Year Built
1981
Listing Agency:
Friend's Real Estate Services
(209) 694-7033
Listed By:
Inspired Real Estate Group Inc
(916) 622-5341
Source:
Inspiredrealestategroup
Added: Aug 24
Changed: Oct 15
Last Checked: Oct 14 at 11:21PM
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 Friend's Real Estate Services
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Investment Insights
Based on property information with market context.
This multifamily property includes two independent residences on nearly 5 acres, with substantial separation between the homes. The primary residence measures approximately 1,440 square feet and includes 3 bedrooms, 2 bathrooms, granite countertops, newer appliances, central heating and air, a wood stove, laundry facilities, a covered deck, and an attached permitted artist studio. A converted workshop and paved parking area add functional space.
The second residence provides approximately 750 square feet with 2 bedrooms, 1 bathroom, an office, laundry room, newer carpet, covered deck, separate driveway, and paved parking. Its improvements also include a detached two-car garage, large storage shed, and additional outbuildings. Mature trees, gently rolling terrain, and individual outdoor areas define the setting, while downtown Grass Valley, Nevada City, and Auburn are located minutes away.
The second residence provides approximately 750 square feet with 2 bedrooms, 1 bathroom, an office, laundry room, newer carpet, covered deck, separate driveway, and paved parking. Its improvements also include a detached two-car garage, large storage shed, and additional outbuildings. Mature trees, gently rolling terrain, and individual outdoor areas define the setting, while downtown Grass Valley, Nevada City, and Auburn are located minutes away.
Key Highlights
- Two independent homes situated on nearly 5 acres
- Primary residence: approximately 1,440 square feet with 3 bedrooms and 2 bathrooms
- Second residence: approximately 750 square feet with 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,793
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,860
$415.9K
Cap Rate 7%
$297,043
$297.0K
Cap Rate 9%
$231,033
$231.0K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$31.1K $21.60/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$29.7K $20.63/SF
− OpEx
−$8.9K −$6.19/SF
NOI
$20.8K $14.44/SF
Area
Nevada County, CA
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,860
Cap Rate 7%
$297,043
Cap Rate 9%
$231,033
Alternative Uses
Best Use
Multifamily LT 5
$297.0K
$259.9K – $346.6K
NOI $20,793 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$270.9K
$237.0K – $316.0K
NOI $18,960 @ 7.0% cap · market cap 3.65%
Theoretical Best
Specialty Retail
$514.8K
$450.5K – $600.6K
NOI $36,038 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 95949, CA
20,720
Population
8,644
Households
2.4
Avg Household Size
52
Median Age
32%
College-Educated
96%
High-School Grad
136.9 sq mi
ZIP Area
151
Density / Sq Mi
$90,309
Median Household Income
$40,553
Median Earnings
$1,827
Median Rent
$551,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Separate residences offer flexible living arrangements, individual driveways, and distinct outdoor spaces on a wooded rural property.
Where is this multifamily property located?
The property is located at 18368 Harmony Place Grass Valley, CA.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Two independent homes situated on nearly 5 acres; Primary residence: approximately 1,440 square feet with 3 bedrooms and 2 bathrooms; Second residence: approximately 750 square feet with 2 bedrooms and 1 bathroom
