Updated Duplex with Detached
For Sale
$999,000
Pending
2024 Thompson Ln, El Sobrante, CA 94803
Residential Income, El Sobrante, CA
Property Size2,892 SF
Lot Size0.31 Acres
Days on Market49
Property Features for 2024 Thompson Ln
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
10
Full bathrooms
10
Rooms
Bathroom 8, Laundry Room, Bathroom 7, Bedroom 3, Bathroom 3, Bathroom 10, Bathroom 9, Bathroom 4, Bedroom 1, Bathroom 5, Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 6
Parking features
RV, Garage
Window features
Window Coverings, Double Pane Windows
Interior features
Storage Area(s), Shower Stall(s), Tub w/Shower Over
Exterior features
Front Yard, Side Yard, Storage
Fencing
Partial, Fenced, Chain Link
Appliances
Gas Water Heater, Tankless Water Heater
Subdivision
El Sobrante
Lot features
2 Houses / 1 Lot, Corner Lot, Premium Lot, Rectangular Lot, Front Yard
Directions
Appian way to Sobrante Ave, L Thompson Ln..
Standard status
Pending
APN
4301520021
Size
2,892 SF
Lot size
0.31 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s), Wall/Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1942
Number of units
2
Flooring type
Carpet, Laminate, Hardwood, Tile
Building materials
Vinyl Siding, Wood Siding
Roof type
Composition
Additional Structures
Storage
Listing Agency:
EXP Realty of California, Inc
(888) 584-9427
Listed By:
Michael Garcia · License #01778005
(510) 303-1757
Added: Aug 5
Changed: Sep 14
Last Checked: Sep 22 at 3:06PM
MLS# 41144033
Copyright © 2026 Bay East. 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 duplex property includes a 2,892-square-foot main residence and a detached rear home on a 0.31-acre lot. The primary dwelling offers 4 bedrooms and 3.5 baths, while the second residence contains 2 bedrooms, 1 bath, a living room, kitchen, and dedicated laundry room. The rear home has its own driveway, entrance, water meter, and PG&E meter.
Recent work includes exterior repairs and fresh paint at the main house, along with refinished hardwood flooring and a newly painted interior in the detached unit. A U-shaped driveway, new concrete walkways, driveway improvements, patio space, fencing, and a maintenance shed support everyday use. Mature landscaping includes Meyer Lemon and Pomegranate trees. Public water and sewer serve the property, with garage and RV parking. The location provides access to shopping, dining, I-80, and Highway 4.
Recent work includes exterior repairs and fresh paint at the main house, along with refinished hardwood flooring and a newly painted interior in the detached unit. A U-shaped driveway, new concrete walkways, driveway improvements, patio space, fencing, and a maintenance shed support everyday use. Mature landscaping includes Meyer Lemon and Pomegranate trees. Public water and sewer serve the property, with garage and RV parking. The location provides access to shopping, dining, I-80, and Highway 4.
Key Highlights
- 2,892‑square‑foot duplex on a 0.31‑acre lot
- Main residence includes 4 bedrooms and 3.5 baths
- Detached rear home has 2 bedrooms, 1 bath, kitchen, living room, and laundry room
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
$49,514
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
4.96%
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%
$990,280
$990.3K
Cap Rate 7%
$707,343
$707.3K
Cap Rate 9%
$550,156
$550.2K
Market Conditions
NOI Build-Up for 2,892 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
$74.6K $25.80/SF
− Vacancy
−$3.9K −$1.34/SF
EGI
$70.7K $24.46/SF
− OpEx
−$21.2K −$7.34/SF
NOI
$49.5K $17.12/SF
Area
Contra Costa County, CA
Vacancy
5.20%
Lease Rate
$25.80 /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%
$990,280
Cap Rate 7%
$707,343
Cap Rate 9%
$550,156
Alternative Uses
Best Use
Multifamily LT 5
$707.3K
$618.9K – $825.2K
NOI $49,514 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$656.8K
$574.7K – $766.2K
NOI $45,973 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$1.09M
$956.5K – $1.28M
NOI $76,522 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Explore this area
Business Placement
Demographics for 94803, CA
26,457
Population
10,038
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
91%
High-School Grad
12.8 sq mi
ZIP Area
2,067
Density / Sq Mi
$116,075
Median Household Income
$54,595
Median Earnings
$2,295
Median Rent
$729,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residences provide separate entrances, utility metering, and flexible occupancy arrangements.
Where is this duplex located?
The property is located at 2024 Thompson Ln El Sobrante, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2,892‑square‑foot duplex on a 0.31‑acre lot; Main residence includes 4 bedrooms and 3.5 baths; Detached rear home has 2 bedrooms, 1 bath, kitchen, living room, and laundry room
