Duplex with Large
For Sale
$577,000
2344 Scenic Ave, Martinez, CA 94553
Two-level configuration includes a city-certified lower studio and an upper residence with a scenic outlook.
Property Size1,637 SF
Price / SF$352.47
Days on Market69
Property Features for 2344 Scenic Ave
General Information
Standard status
Active
Size
1,637 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x Studio
Multifamily Units
2
Building Details
Year Built
1947
Listing Agency:
Ross Company REALTOR
Listed By:
Mark Ross · License #00888401
(925) 212-8127
Source:
Bayarearealestatesearch
Added: Aug 11
Changed: Sep 11
Last Checked: Sep 26 at 4:13AM
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 Ross Company REALTOR
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Investment Insights
Based on property information with market context.
This 1947-built duplex includes a two-bedroom, one-bath upper residence and a studio unit on the lower level. The City has certified the studio as a legal unit. The property also offers a large yard, while the upper residence has a scenic view. Interior systems include forced-air and wall/window heating and cooling, baseboard heating, a gas water heater, cable readiness, and natural gas service. Individual electric meters serve the units.
Located on Scenic Ave in Downtown Martinez, the property is near transportation. The site has also been identified as a possible location for a third unit. Exterior utility connections include cable availability and natural gas service, supporting the existing two-unit configuration.
Located on Scenic Ave in Downtown Martinez, the property is near transportation. The site has also been identified as a possible location for a third unit. Exterior utility connections include cable availability and natural gas service, supporting the existing two-unit configuration.
Key Highlights
- Duplex with 2‑bedroom/1‑bath upper unit and lower studio
- Lower studio certified by the City as a legal unit
- Large yard included with the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,027
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,540
$560.5K
Cap Rate 7%
$400,386
$400.4K
Cap Rate 9%
$311,411
$311.4K
Market Conditions
NOI Build-Up for 1,637 SF
Gross rent
$42.2K $25.80/SF
− Vacancy
−$2.2K −$1.34/SF
EGI
$40.0K $24.46/SF
− OpEx
−$12.0K −$7.34/SF
NOI
$28.0K $17.12/SF
Area
Contra Costa County, 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%
$560,540
Cap Rate 7%
$400,386
Cap Rate 9%
$311,411
Alternative Uses
Best Use
Multifamily LT 5
$400.4K
$350.3K – $467.1K
NOI $28,027 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$371.8K
$325.3K – $433.7K
NOI $26,023 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$618.8K
$541.4K – $721.9K
NOI $43,315 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
Explore this area
Business Placement
Demographics for 94553, CA
49,756
Population
19,626
Households
2.5
Avg Household Size
42
Median Age
42%
College-Educated
94%
High-School Grad
61.6 sq mi
ZIP Area
808
Density / Sq Mi
$121,023
Median Household Income
$70,337
Median Earnings
$2,247
Median Rent
$781,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two-level configuration includes a city-certified lower studio and an upper residence with a scenic outlook.
Where is this duplex located?
The property is located at 2344 Scenic Ave Martinez, CA.
What is the asking price?
The asking price for this property is $577,000.
What are key features of this property?
This property features: Duplex with 2‑bedroom/1‑bath upper unit and lower studio; Lower studio certified by the City as a legal unit; Large yard included with the property
