Turnkey 4-Unit Residential
For Sale
$999,000
22 S Lake Dr, Antioch, CA 94509
Four fully remodeled 2-bedroom units include off-street parking and separate gas and electric paid by tenants.
Property Size3,300 SF
Lot Size0.16 Acres
Price / SF$302.73
Days on Market93
Property Features for 22 S Lake Dr
General Information
Standard status
Active
Size
3,300 SF
Total Parking Spaces
8
Lot size
0.16 Acres
Property subtype
Residential Income
Occupancy
75%
Additional Details
Multifamily Units
4
Amenities
Other
Carport, Converted Garage, Guest, Off Street, Garage
Building Details
Building Size
3,300 SF
Year Built
1968
Listing Agency:
The Pinza Group, Inc
Listed By:
David Howarth · License #01360348
(510) 822-1331
Source:
Evrealestate
Added: Jul 14
Changed: Oct 7
Last Checked: Oct 12 at 6:39PM
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 The Pinza Group, Inc
Investment Insights
Based on property information with market context.
This is a 4-unit apartment complex originally built in 1968, offered as a turnkey residential income property. The unit mix consists of four 2-bedroom, 1-bath apartments. Three units are currently occupied, and one unit is vacant, providing flexibility for an owner-occupant or a new tenant upon lease-up.
The property includes up to eight off-street parking spaces. Tenant-paid utilities are supported by upgraded electric meters, with tenants responsible for gas and electric expenses.
Interior improvements include newer kitchens and bathrooms, new flooring, double-pane windows, and fresh paint. The exterior is described as being in great condition, with mature landscaping. The property has no deferred maintenance noted in the materials provided, and it is presented as relatively straightforward to manage.
The property includes up to eight off-street parking spaces. Tenant-paid utilities are supported by upgraded electric meters, with tenants responsible for gas and electric expenses.
Interior improvements include newer kitchens and bathrooms, new flooring, double-pane windows, and fresh paint. The exterior is described as being in great condition, with mature landscaping. The property has no deferred maintenance noted in the materials provided, and it is presented as relatively straightforward to manage.
Key Highlights
- 4‑unit apartment complex built in 1968 with approx. 3,300 SF of rental space on a 6,860 SF lot
- Unit mix: four 2 bed / 1 bath units; 3 units currently occupied and the 4th unit is vacant
- All units are fully remodeled with newer kitchens and bathrooms, new flooring, new paint, and double pane windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,499
Cap Rate
5.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,129,980
$1.1M
Cap Rate 7%
$807,129
$807.1K
Cap Rate 9%
$627,767
$627.8K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$85.1K $25.80/SF
− Vacancy
−$4.4K −$1.34/SF
EGI
$80.7K $24.46/SF
− OpEx
−$24.2K −$7.34/SF
NOI
$56.5K $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 Rate 5%
$1,129,980
Cap Rate 7%
$807,129
Cap Rate 9%
$627,767
Alternative Uses
Best Use
Multifamily LT 5
$807.1K
$706.2K – $941.7K
NOI $56,499 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$750.2K
$656.4K – $875.2K
NOI $52,514 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$999.6K
$874.7K – $1.17M
NOI $69,973 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
460
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four fully remodeled 2-bedroom units include off-street parking and separate gas and electric paid by tenants.
Where is this quadplex located?
The property is located at 22 S Lake Dr Antioch, 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: 4‑unit apartment complex built in 1968 with approx. 3,300 SF of rental space on a 6,860 SF lot; Unit mix: four 2 bed / 1 bath units; 3 units currently occupied and the 4th unit is vacant; All units are fully remodeled with newer kitchens and bathrooms, new flooring, new paint, and double pane windows
