Duplex with Long-Term
For Sale
$649,999
2217 Manzanita Way, Antioch, CA 94509
Two occupied units offer a two-bedroom layout, with one including one-and-a-half baths.
Property Size2,072 SF
Price / SF$313.71
Days on Market197
Property Features for 2217 Manzanita Way
General Information
Standard status
Active
Size
2,072 SF
Property subtype
Multi Family
Units
Unit Mix
2BR/1BA, 2BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1972
Buildings
1
Listing Agency:
Vincent Parker, Broker
Listed By:
Vincent Parker · License #02083543
(510) 688-5209
Source:
Exitrealty
Added: Feb 17
Changed: Sep 2
Last Checked: Sep 1 at 2:47PM
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 Vincent Parker, Broker
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,072 square feet and was built in 1972. The unit mix includes one two-bedroom, one-bath apartment and a second two-bedroom apartment with one-and-a-half baths. Both residences are described as being in good condition.
The property is located at 2217 Manzanita Way in Antioch, California. Both apartments have long-term tenants who want to remain, providing established occupancy for the next owner.
The property is located at 2217 Manzanita Way in Antioch, California. Both apartments have long-term tenants who want to remain, providing established occupancy for the next owner.
Key Highlights
- Two‑unit duplex with 2,072 square feet
- Unit mix includes one 2/1 and one 2/1.5
- Both units have long‑term tenants who wish to stay
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
$35,474
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
5.46%
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%
$709,480
$709.5K
Cap Rate 7%
$506,771
$506.8K
Cap Rate 9%
$394,156
$394.2K
Market Conditions
NOI Build-Up for 2,072 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
$53.5K $25.80/SF
− Vacancy
−$2.8K −$1.34/SF
EGI
$50.7K $24.46/SF
− OpEx
−$15.2K −$7.34/SF
NOI
$35.5K $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 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%
$709,480
Cap Rate 7%
$506,771
Cap Rate 9%
$394,156
Alternative Uses
Best Use
Multifamily LT 5
$506.8K
$443.4K – $591.2K
NOI $35,474 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$471.0K
$412.2K – $549.5K
NOI $32,972 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$627.6K
$549.2K – $732.3K
NOI $43,935 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
544
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?
Duplex - Two occupied units offer a two-bedroom layout, with one including one-and-a-half baths.
Where is this duplex located?
The property is located at 2217 Manzanita Way Antioch, CA.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Two‑unit duplex with 2,072 square feet; Unit mix includes one 2/1 and one 2/1.5; Both units have long‑term tenants who wish to stay
