Updated Four-Unit Apartment
New
For Sale
$950,000
2416 L St, Antioch, CA 94509
Four occupied two-bedroom apartments provide a compact multifamily configuration with updated interiors and established tenancy.
Property Size3,200 SF
Days on Market5
Property Features for 2416 L St
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$87,600
Taxes and HOA fees
Annual Taxes
$6,000
Building Details
Building Size
3,200 SF
Year Built
1986
Buildings
1
Stories
2
Units
4
Listing Agency:
EXIT Realty Consultants
Listed By:
Dorothy Coulter · License #01800430
(408) 712-3314
Source:
Elliman
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 8:52AM
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 EXIT Realty Consultants
Investment Insights
Based on property information with market context.
Built in 1986, this updated fourplex contains four separate apartments, each configured with two bedrooms and two bathrooms. All units are currently occupied, providing an established operating profile across the property’s four residences.
The property is located at 2416 L St in Antioch, near shopping, schools, and major commuter routes. Walk Score is 66, Bike Score is 53, and Transit Score is 33, indicating a somewhat walkable setting with bike access and some public transportation availability.
The property is located at 2416 L St in Antioch, near shopping, schools, and major commuter routes. Walk Score is 66, Bike Score is 53, and Transit Score is 33, indicating a somewhat walkable setting with bike access and some public transportation availability.
Key Highlights
- Four‑unit multifamily property with four separate residences
- Each unit includes 2 bedrooms and 2 bathrooms
- All four units are currently occupied
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
$54,787
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
5.77%
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%
$1,095,740
$1.1M
Cap Rate 7%
$782,671
$782.7K
Cap Rate 9%
$608,744
$608.7K
Market Conditions
NOI Build-Up for 3,200 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
$82.6K $25.80/SF
− Vacancy
−$4.3K −$1.34/SF
EGI
$78.3K $24.46/SF
− OpEx
−$23.5K −$7.34/SF
NOI
$54.8K $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%
$1,095,740
Cap Rate 7%
$782,671
Cap Rate 9%
$608,744
Alternative Uses
Best Use
Multifamily LT 5
$782.7K
$684.8K – $913.1K
NOI $54,787 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$727.5K
$636.5K – $848.7K
NOI $50,922 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$969.3K
$848.2K – $1.13M
NOI $67,853 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
316
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 occupied two-bedroom apartments provide a compact multifamily configuration with updated interiors and established tenancy.
Where is this quadplex located?
The property is located at 2416 L St Antioch, CA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Four‑unit multifamily property with four separate residences; Each unit includes 2 bedrooms and 2 bathrooms; All four units are currently occupied
