Fully Occupied
New
For Sale
$950,000
215 W 3rd ST, Antioch, CA 94509
Residential Income (2-4 units), ANTIOCH, CA
Property Size4,032 SF
Lot Size0.17 Acres
Price / SF$235.62
Days on Market1
Property Features for 215 W 3rd ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-20
Bedrooms
8
Rooms
Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 7, Bedroom 2, Bedroom 8, Bedroom 5
Subdivision
Antioch
Standard status
Active
Size
4,032 SF
Lot size
0.17 Acres
Utilities
Water source
Public
Building Details
Year built
1950
Number of units
4
Listing Agency:
Haylen Group
(888) 406-5788
Listed By:
Helen Chong · License #01700495
(408) 800-5478
Added: Sep 5
Last Checked: Sep 5 at 1:06PM
MLS# ML82060212
Copyright © 2026 MLS Listings, 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 fourplex contains four two-bedroom, two-bath residences within 4,032 square feet of building area. Constructed in 1950, the property sits on a 7,500-square-foot lot and includes carport parking. Gas and electric service are individually metered for each unit, and the water source is public. The property is currently tenant occupied and fully occupied.
Located at 215 W 3rd St in central Antioch, the building is positioned within the city’s original central grid, near the civic core and San Joaquin River waterfront. A Street and L Street provide connections to Highway 4, while the Antioch BART station is nearby. The property is zoned R-20 and is being offered individually or with 123 W 10th St as part of a ten-unit multifamily portfolio. Tenant access is restricted; prospective parties should not disturb occupants.
Located at 215 W 3rd St in central Antioch, the building is positioned within the city’s original central grid, near the civic core and San Joaquin River waterfront. A Street and L Street provide connections to Highway 4, while the Antioch BART station is nearby. The property is zoned R-20 and is being offered individually or with 123 W 10th St as part of a ten-unit multifamily portfolio. Tenant access is restricted; prospective parties should not disturb occupants.
Key Highlights
- Four two‑bedroom, two‑bath units in a 4,032‑square‑foot building
- 7,500‑square‑foot lot with carport parking
- Individually metered gas and electric service
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 - Fully occupied multifamily property with individually metered gas and electric service.
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 4,032‑square‑foot building; 7,500‑square‑foot lot with carport parking; Individually metered gas and electric service
