Occupied Quadplex with
New
For Sale
$950,000
215 W 3rd St, Antioch, CA 94509
Four two-bedroom residences offer separate gas and electric metering plus on-site carport parking.
Property Size4,032 SF
Lot Size0.17 Acres
Price / SF$235.62
Days on Market2
Property Features for 215 W 3rd St
General Information
Standard status
Active
Size
4,032 SF
Lot size
0.17 Acres
Property subtype
Investment
Occupancy
100%
Lease Term
12 months
Net Operating Income
$36,981
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,837
Building Details
Building Size
4,032 SF
Year Built
1950
Buildings
1
Stories
1
Units
4
Listing Agency:
Haylen Group Inc.
Listed By:
Helen Chong · License #01700495
(408) 800-5478
Source:
Elliman
Added: Sep 6
Last Checked: Sep 6 at 2:30PM
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 Haylen Group Inc.
Investment Insights
Based on property information with market context.
This occupied quadplex contains four two-bedroom, two-bath residences within a 4,032-square-foot building on a 7,500-square-foot lot. Constructed in 1950, the property includes carport parking and separate gas and electric meters for each unit.
The building is positioned at 215 W 3rd St in central Antioch’s original street grid. The civic core and San Joaquin River waterfront are within walking distance, while A Street and L Street provide connections to Highway 4. Antioch BART is also nearby. The property is tenant occupied, and scheduled tours should respect the current no-disturbance request.
The building is positioned at 215 W 3rd St in central Antioch’s original street grid. The civic core and San Joaquin River waterfront are within walking distance, while A Street and L Street provide connections to Highway 4. Antioch BART is also nearby. The property is tenant occupied, and scheduled tours should respect the current no-disturbance request.
Key Highlights
- Four two‑bedroom, two‑bath units in a fully occupied quadplex
- 4,032 square feet on a 7,500 square foot lot
- Built in 1950
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
$69,031
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
7.27%
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%
$1,380,620
$1.4M
Cap Rate 7%
$986,157
$986.2K
Cap Rate 9%
$767,011
$767.0K
Market Conditions
NOI Build-Up for 4,032 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
$104.0K $25.80/SF
− Vacancy
−$5.4K −$1.34/SF
EGI
$98.6K $24.46/SF
− OpEx
−$29.6K −$7.34/SF
NOI
$69.0K $17.12/SF
Area
Antioch, 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%
$1,380,620
Cap Rate 7%
$986,157
Cap Rate 9%
$767,011
Alternative Uses
Best Use
Multifamily LT 5
$986.2K
$862.9K – $1.15M
NOI $69,031 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$916.6K
$802.0K – $1.07M
NOI $64,162 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,495 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
Explore this area
Business Placement
Demographics for 94509, CA
69,931
Population
24,048
Households
2.9
Avg Household Size
36
Median Age
19%
College-Educated
82%
High-School Grad
17.4 sq mi
ZIP Area
4,019
Density / Sq Mi
$81,512
Median Household Income
$42,401
Median Earnings
$2,052
Median Rent
$565,300
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?
Quadplex - Four two-bedroom residences offer separate gas and electric metering plus on-site carport parking.
Where is this quadplex located?
The property is located at 215 W 3rd St Antioch, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four two‑bedroom, two‑bath units in a fully occupied quadplex; 4,032 square feet on a 7,500 square foot lot; Built in 1950
