Tenant-Occupied
New
For Sale
$745,000
24 8th Street, Gonzales, CA 93926
Three occupied units create a compact multifamily property with month-to-month tenancy.
Property Size2,153 SF
Price / SF$346.03
Days on Market7
Property Features for 24 8th Street
General Information
Standard status
Active
Size
2,153 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Gross Income
$46,800
Multifamily Units
3
Building Details
Year Built
1935
Listing Agency:
BHGRE Haven Properties
Listed By:
April Whitehead · License #01268491
(831) 262-7132
Source:
Exitrealty
Added: Aug 28
Changed: Sep 3
Last Checked: Sep 3 at 2:23AM
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 BHGRE Haven Properties
Investment Insights
Based on property information with market context.
This 2,153-square-foot triplex at 24 8th Street in Gonzales, California, contains three residential units, each currently occupied by a tenant. The property was built in 1935 and offers a three-unit configuration suited to multifamily ownership.
All leases are month-to-month, providing flexible tenancy arrangements for the next owner. Matterport 3D tours are available for each of the three units, allowing remote review of the interiors.
All leases are month-to-month, providing flexible tenancy arrangements for the next owner. Matterport 3D tours are available for each of the three units, allowing remote review of the interiors.
Key Highlights
- Three‑unit triplex with all units tenant‑occupied
- 2,153 square feet of multifamily space
- Month‑to‑month leases across all three units
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
$37,605
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
5.05%
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%
$752,100
$752.1K
Cap Rate 7%
$537,214
$537.2K
Cap Rate 9%
$417,833
$417.8K
Market Conditions
NOI Build-Up for 2,153 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
$55.0K $25.56/SF
− Vacancy
−$1.3K −$0.61/SF
EGI
$53.7K $24.95/SF
− OpEx
−$16.1K −$7.49/SF
NOI
$37.6K $17.47/SF
Area
Monterey County, CA
Vacancy
2.38%
Lease Rate
$25.56 /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%
$752,100
Cap Rate 7%
$537,214
Cap Rate 9%
$417,833
Alternative Uses
Best Use
Multifamily LT 5
$537.2K
$470.1K – $626.8K
NOI $37,605 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$494.8K
$433.0K – $577.3K
NOI $34,636 @ 7.0% cap · market cap 4.65%
Theoretical Best
Specialty Retail
$822.1K
$719.3K – $959.1K
NOI $57,546 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 93926, CA
9,187
Population
2,454
Households
3.7
Avg Household Size
30
Median Age
9%
College-Educated
61%
High-School Grad
67.2 sq mi
ZIP Area
137
Density / Sq Mi
$77,418
Median Household Income
$41,839
Median Earnings
$1,515
Median Rent
$597,600
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 occupied units create a compact multifamily property with month-to-month tenancy.
Where is this triplex located?
The property is located at 24 8th Street Gonzales, CA.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Three‑unit triplex with all units tenant‑occupied; 2,153 square feet of multifamily space; Month‑to‑month leases across all three units
