Three-Unit Ranch
For Sale
$649,950
193 Sky Oaks Drive, Angwin, CA 94508
Residential Income, Angwin, CA
Property Size2,487 SF
Lot Size2.61 Acres
Price / SF$261.34
Days on Market115
Property Features for 193 Sky Oaks Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 2
Parking
4
Parking features
Carport, Open
Window features
Screens, Window Coverings
Patio and Porch features
Deck
Appliances
Free-Standing Gas Oven, Free-Standing Gas Range, Free-Standing Refrigerator
Lot features
Secluded, Irregular Lot
View
Hills, Forest
Directions
Deer Park to Howell Mountain Road to College Avenue, head West (left). Left on Sky Oaks Drive and turn into 205 Sky Oaks Driveway (easement). Follow sign towards units 199-197-195 Sky Oaks Drive and veer left down the dirt driveway.
Subdivision
Angwin
Standard status
Active
APN
024192025000
Size
2,487 SF
Lot size
2.61 Acres
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Central
Cooling system
Ceiling Fan(s), Central Air, Wall Unit(s)
Amenities
shared deck
basement storage
sheds
carport
Building Details
Year built
1930
Floors in Building
1
Number of units
3
Flooring type
Vinyl, Linoleum, Carpet, Laminate
Roof type
Metal
Architectural style
Ranch
Listing Agency:
Coldwell Banker Brokers of the Valley · Coldwell Banker Real Estate
(707) 258-5200
Listed By:
Michelle Cherry · License #01747474
(707) 812-0919
Added: May 21
Changed: Sep 5
Last Checked: Sep 12 at 6:06AM
MLS# 325073230
Copyright © 2026 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1930 ranch-style triplex contains three 1-bedroom, 1-bath units within 2,487 square feet. Two units include additional front rooms that can serve as office or sleeping areas. The property also offers a shared rear deck, basement storage, two sheds, and an open carport sized for two cars or trucks. Interior features include vinyl, linoleum, carpet, and laminate flooring, along with central heating, central air, ceiling fans, and wall-unit cooling. A metal roof and septic tank serve the property.
Set on 2.61 acres in Angwin, the property is less than one mile from Pacific Union College and Howell Mountain Market. The parcel includes defensible-space work with a certificate on file and provides outdoor area for gardening, camping, and recreation. Free-standing gas cooking appliances and refrigerators are included.
Set on 2.61 acres in Angwin, the property is less than one mile from Pacific Union College and Howell Mountain Market. The parcel includes defensible-space work with a certificate on file and provides outdoor area for gardening, camping, and recreation. Free-standing gas cooking appliances and refrigerators are included.
Key Highlights
- Three 1‑bedroom, 1‑bath units
- 2,487 square feet on 2.61 acres
- Two units include front rooms suitable for office or sleeping space
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
$43,949
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
6.76%
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%
$878,980
$879.0K
Cap Rate 7%
$627,843
$627.8K
Cap Rate 9%
$488,322
$488.3K
Market Conditions
NOI Build-Up for 2,487 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
$67.1K $27.00/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$62.8K $25.25/SF
− OpEx
−$18.8K −$7.57/SF
NOI
$43.9K $17.67/SF
Area
Napa County, CA
Vacancy
6.50%
Lease Rate
$27.00 /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%
$878,980
Cap Rate 7%
$627,843
Cap Rate 9%
$488,322
Alternative Uses
Best Use
Multifamily LT 5
$627.8K
$549.4K – $732.5K
NOI $43,949 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$566.9K
$496.0K – $661.3K
NOI $39,680 @ 7.0% cap · market cap 6.11%
Theoretical Best
Specialty Retail
$5.02M
$4.39M – $5.86M
NOI $351,305 @ 7.0% cap · market cap 54.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 94508, CA
3,233
Population
1,128
Households
2.9
Avg Household Size
35
Median Age
57%
College-Educated
93%
High-School Grad
16.0 sq mi
ZIP Area
202
Density / Sq Mi
$116,534
Median Household Income
$34,125
Median Earnings
$1,651
Median Rent
$774,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Ranch-style income property with shared outdoor space, storage improvements, and a two-vehicle open carport.
Where is this triplex located?
The property is located at 193 Sky Oaks Drive Angwin, CA.
What is the asking price?
The asking price for this property is $649,950.
What are key features of this property?
This property features: Three 1‑bedroom, 1‑bath units; 2,487 square feet on 2.61 acres; Two units include front rooms suitable for office or sleeping space
