Two-Home Duplex
New
For Sale
$999,000
2024 Thompson Ln, El Sobrante, CA 94803
MULTI_FAMILY - El Sobrante, CA
Property Size2,892 SF
Lot Size0.31 Acres
Price / SF$345.44
Days on Market4
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 9, Bedroom 5, Bathroom 1, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 1, Bathroom 8, Bedroom 6, Laundry Room, Bedroom 4, Bathroom 10, Bathroom 5, Bathroom 6, Bedroom 3, Bathroom 7, Bedroom 2
Parking features
Garage, RV
Window features
Double Pane Windows, Window Coverings
Interior features
Storage Area(s), Shower Stall(s), Tub w/Shower Over
Exterior features
Front Yard, Side Yard, Storage
Fencing
Fenced, Partial, 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
Active
APN
4301520021
Size
2,892 SF
Lot size
0.31 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Wall/Window Unit(s), Window Unit(s), Ceiling Fan(s)
Water source
Public
Amenities
citrus trees
maintenance shed
patio
Building Details
Year built
1942
Number of units
2
Flooring type
Laminate, Hardwood, Carpet, 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
(510) 303-1757
Added: Aug 5
Changed: Aug 7
Last Checked: Aug 8 at 8:06AM
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 contains two separate homes totaling 2892 square feet on a 0.31-acre lot. The primary residence offers 4 bedrooms and 3 and a half baths. A detached rear home provides 2 bedrooms, 1 bath, a living room, kitchen, and dedicated laundry room, along with its own driveway, entrance, and PG&E meter.
Recent work includes exterior repairs and fresh paint at the main home, plus refinished hardwood floors and a newly painted interior in the rear residence. The grounds include a U-shaped driveway, new concrete walkways, a driveway and patio, fenced areas, a maintenance shed, and mature Meyer Lemon and Pomegranate trees. Additional features include garage and RV parking, public water, public sewer, and a composition roof. The property was built in 1942 and is located near shopping, dining, I-80, and Highway 4.
Recent work includes exterior repairs and fresh paint at the main home, plus refinished hardwood floors and a newly painted interior in the rear residence. The grounds include a U-shaped driveway, new concrete walkways, a driveway and patio, fenced areas, a maintenance shed, and mature Meyer Lemon and Pomegranate trees. Additional features include garage and RV parking, public water, public sewer, and a composition roof. The property was built in 1942 and is located near shopping, dining, I-80, and Highway 4.
Key Highlights
- Two‑home duplex configuration with 2892 square feet of total property size
- 0.31‑acre lot with a primary residence and detached rear home
- Main home includes 4 bedrooms and 3 and a half baths
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
Property Profile
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
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 - Detached rear residence includes its own entrance, driveway, and PG&E meter.
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: Two‑home duplex configuration with 2892 square feet of total property size; 0.31‑acre lot with a primary residence and detached rear home; Main home includes 4 bedrooms and 3 and a half baths
