Duplex with Updated
For Sale
Contact for pricing
1964 Arnold Way, Alpine, CA 91901
Two three-bedroom units offer private outdoor areas, in-unit laundry, and dedicated off-street parking.
Property Size2,132 SF
Lot Size0.14 Acres
Price / SF$459.19
Days on Market152
Property Features for 1964 Arnold Way
General Information
Standard status
Active
Size
2,132 SF
Class
B
Total Parking Spaces
4
Lot size
0.14 Acres
Property subtype
Multifamily
Zoning
R-2:MINOR
Occupancy
100%
Investment Type
Stabilized
Property Condition
Severity
Repairs Needed
Evidence
minimal deferred maintenance
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
private backyards
stackable washer/dryers
Building Details
Year Built
1991
Buildings
1
Stories
2
Units
2
Listing Agency:
Starker West, Inc
(619) 300-0173
Listed By:
Nicholas Azoff · License #02035396
Source:
Crexi
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 8:31PM
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 Starker West, Inc
Investment Insights
Based on property information with market context.
Built in 1991, this 2,132-square-foot duplex contains two three-bedroom, two-bathroom residences with practical layouts and private backyards. Each unit includes stackable washer and dryer appliances, while updated windows and a newer roof add to the existing improvements. Dedicated off-street parking serves the property.
The duplex occupies a 6,128-square-foot parcel in Alpine and is designated R-2:MINOR zoning. Its two-unit configuration provides separate residential spaces within a single multifamily asset, with each residence offering the same three-bedroom, two-bathroom arrangement.
The duplex occupies a 6,128-square-foot parcel in Alpine and is designated R-2:MINOR zoning. Its two-unit configuration provides separate residential spaces within a single multifamily asset, with each residence offering the same three-bedroom, two-bathroom arrangement.
Key Highlights
- Two 3‑bedroom, 2‑bathroom units
- 2,132 square feet on a 6,128‑square‑foot parcel
- Private backyard for each unit
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
$38,199
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
3.90%
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%
$763,980
$764.0K
Cap Rate 7%
$545,700
$545.7K
Cap Rate 9%
$424,433
$424.4K
Market Conditions
NOI Build-Up for 2,132 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
$57.6K $27.00/SF
− Vacancy
−$3.0K −$1.40/SF
EGI
$54.6K $25.60/SF
− OpEx
−$16.4K −$7.68/SF
NOI
$38.2K $17.92/SF
Area
San Diego County, CA
Vacancy
5.20%
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%
$763,980
Cap Rate 7%
$545,700
Cap Rate 9%
$424,433
Alternative Uses
Best Use
Multifamily LT 5
$545.7K
$477.5K – $636.7K
NOI $38,199 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$506.1K
$442.8K – $590.4K
NOI $35,424 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$976.8K
$854.7K – $1.14M
NOI $68,377 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 91901, CA
17,688
Population
6,593
Households
2.7
Avg Household Size
43
Median Age
30%
College-Educated
95%
High-School Grad
77.9 sq mi
ZIP Area
227
Density / Sq Mi
$116,600
Median Household Income
$52,848
Median Earnings
$2,064
Median Rent
$804,000
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?
Duplex - Two three-bedroom units offer private outdoor areas, in-unit laundry, and dedicated off-street parking.
Where is this duplex located?
The property is located at 1964 Arnold Way Alpine, CA.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bathroom units; 2,132 square feet on a 6,128‑square‑foot parcel; Private backyard for each unit
