Updated Four-Unit Multifamily
New
For Sale
$950,000
2416 L ST, Antioch, CA 94509
Residential Income (2-4 units), ANTIOCH, CA
Property Size3,200 SF
Lot Size0.29 Acres
Price / SF$296.88
Days on Market2
Property Features for 2416 L ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-20
Bedrooms
8
Rooms
Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 8, Bedroom 3, Bedroom 7, Bedroom 2, Bedroom 1
Parking features
On Street
Appliances
Dishwasher
Subdivision
Antioch
Standard status
Active
Size
3,200 SF
Lot size
0.29 Acres
Utilities
Heating system
Forced Air, Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Number of units
4
Flooring type
Carpet, Laminate
Roof type
Shingle, Composition
Listing Agency:
EXIT Realty Consultants
(408) 778-9990
Listed By:
Dorothy Coulter · License #01800430
(408) 712-3314
Added: Sep 15
Last Checked: Sep 16 at 8:06AM
MLS# ML82061381
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1986, this updated fourplex contains 3,200 square feet across four separate two-bedroom, two-bath residences. All units are currently occupied, providing an established multifamily configuration. Interior features include carpet and laminate flooring, dishwashers, forced-air heating, and central air conditioning. The property is served by public water and has shingle and composition roofing.
The 0.2938-acre property is located at 2416 L St in Antioch, California, within the 94509 ZIP Code. R-20 zoning applies to the site, and parking is provided on street. Shopping, schools, and major commuter routes are identified in the surrounding area.
The 0.2938-acre property is located at 2416 L St in Antioch, California, within the 94509 ZIP Code. R-20 zoning applies to the site, and parking is provided on street. Shopping, schools, and major commuter routes are identified in the surrounding area.
Key Highlights
- Four separate two‑bedroom, two‑bath units
- 3,200 square feet on 0.2938 acres
- All four units 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
View Realmo Analytics
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 residences with central heating and cooling in an R-20-zoned property.
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 separate two‑bedroom, two‑bath units; 3,200 square feet on 0.2938 acres; All four units currently occupied
