Updated Triplex with Covered
New
For Sale
$1,550,000
231 N K Street, Livermore, CA 94551
Three separate residences offer a mix of owner-use flexibility and existing rental income.
Property Size3,720 SF
Lot Size0.17 Acres
Price / SF$416.67
Days on Market4
Property Features for 231 N K Street
General Information
Standard status
Active
Size
3,720 SF
Total Parking Spaces
6
Lot size
0.17 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/2BA, 1 x 2BR/2.5BA
Multifamily Units
3
Amenities
washer/dryer in each unit
Building Details
Year Built
1989
Listing Agency:
Intero Real Estate Services
(650) 680-5259
Listed By:
Kamal Thind · License #02128073
(650) 680-5259
Source:
Exitrealty
Added: Aug 14
Changed: Aug 16
Last Checked: Aug 16 at 3:49AM
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 Intero Real Estate Services
Investment Insights
Based on property information with market context.
This 1989 triplex contains three separate homes totaling approximately 3,720 square feet on a 7,492 square foot lot. The configuration includes two three-bedroom, two-bath residences and one two-bedroom, two-and-a-half-bath residence. All units have individual washers and dryers. One three-bedroom home has been updated and is vacant, while the other two residences are occupied and generating rental income at closing, subject to the stated transaction terms.
The property includes six covered parking spaces, with two enclosed garage spaces, along with additional street parking. Located at 231 N K Street in Livermore, the triplex is near shopping and dining and offers access to Downtown Livermore, I-580, and the ACE station. The combination of a vacant updated residence and two occupied units supports multiple ownership and leasing strategies without relying on a single unit configuration.
The property includes six covered parking spaces, with two enclosed garage spaces, along with additional street parking. Located at 231 N K Street in Livermore, the triplex is near shopping and dining and offers access to Downtown Livermore, I-580, and the ACE station. The combination of a vacant updated residence and two occupied units supports multiple ownership and leasing strategies without relying on a single unit configuration.
Key Highlights
- Three residences totaling approximately 3,720 square feet
- Unit mix includes two 3‑bedroom, 2‑bath homes and one 2‑bedroom, 2.5‑bath home
- 7,492 square foot lot with six covered parking spaces
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
$124,862
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
8.06%
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%
$2,497,240
$2.5M
Cap Rate 7%
$1,783,743
$1.8M
Cap Rate 9%
$1,387,356
$1.4M
Market Conditions
NOI Build-Up for 3,720 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
$189.7K $51.00/SF
− Vacancy
−$11.3K −$3.05/SF
EGI
$178.4K $47.95/SF
− OpEx
−$53.5K −$14.39/SF
NOI
$124.9K $33.57/SF
Area
Alameda County, CA
Vacancy
5.98%
Lease Rate
$51.00 /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%
$2,497,240
Cap Rate 7%
$1,783,743
Cap Rate 9%
$1,387,356
Alternative Uses
Best Use
Multifamily LT 5
$1.78M
$1.56M – $2.08M
NOI $124,862 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$769.8K
$673.6K – $898.1K
NOI $53,888 @ 7.0% cap · market cap 3.48%
Theoretical Best
Retail
$16.96M
$14.84M – $19.79M
NOI $1,187,151 @ 7.0% cap · market cap 76.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 94551, CA
40,358
Population
14,475
Households
2.8
Avg Household Size
38
Median Age
44%
College-Educated
92%
High-School Grad
82.7 sq mi
ZIP Area
488
Density / Sq Mi
$130,705
Median Household Income
$67,591
Median Earnings
$2,589
Median Rent
$931,000
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?
Triplex - Three separate residences offer a mix of owner-use flexibility and existing rental income.
Where is this triplex located?
The property is located at 231 N K Street Livermore, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Three residences totaling approximately 3,720 square feet; Unit mix includes two 3‑bedroom, 2‑bath homes and one 2‑bedroom, 2.5‑bath home; 7,492 square foot lot with six covered parking spaces
