Three-Unit Triplex with Garage
New
For Sale
$1,399,000
2416 Palmetto AVE, Pacifica, CA 94044
Recently painted exterior, shared laundry, and proximity to Ocean Beach support convenient residential living.
Property Size3,414 SF
Days on Market5
Property Features for 2416 Palmetto AVE
General Information
Standard status
Active
Size
3,414 SF
Total Parking Spaces
3
Property subtype
Triplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,980
Amenities
shared laundry facilities
Building Details
Building Size
3,414 SF
Year Built
1966
Listing Agency:
KW Advisors
Listed By:
Paul Beaudreau · License #01910286
(650) 627-3757
Source:
Johnpaye
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 21 at 7:26AM
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 KW Advisors
Investment Insights
Based on property information with market context.
This 1966 triplex includes two 2-bedroom, 2-bathroom residences and one 1-bedroom, 1-bathroom residence. Each unit offers generously sized living areas and one garage parking space, while shared laundry serves the property. Recent exterior paint adds to the well-maintained presentation.
The property is in West Sharp Park, two blocks from Ocean Beach and near shopping and recreational landmarks. Highway 1 and I-280 provide regional access, and Daly City BART is approximately a 10-minute drive away. The configuration supports both investor ownership and an owner-occupant arrangement.
The property is in West Sharp Park, two blocks from Ocean Beach and near shopping and recreational landmarks. Highway 1 and I-280 provide regional access, and Daly City BART is approximately a 10-minute drive away. The configuration supports both investor ownership and an owner-occupant arrangement.
Key Highlights
- Three‑unit configuration with two 2‑bedroom, 2‑bathroom units and one 1‑bedroom, 1‑bathroom unit
- One garage parking space for each unit
- Shared laundry facilities
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
$99,210
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
7.09%
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%
$1,984,200
$2.0M
Cap Rate 7%
$1,417,286
$1.4M
Cap Rate 9%
$1,102,333
$1.1M
Market Conditions
NOI Build-Up for 3,414 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
$151.6K $44.40/SF
− Vacancy
−$9.9K −$2.89/SF
EGI
$141.7K $41.51/SF
− OpEx
−$42.5K −$12.45/SF
NOI
$99.2K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /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%
$1,984,200
Cap Rate 7%
$1,417,286
Cap Rate 9%
$1,102,333
Alternative Uses
Best Use
Multifamily LT 5
$1.42M
$1.24M – $1.65M
NOI $99,210 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,919 @ 7.0% cap · market cap 6.64%
Theoretical Best
Warehouse
$2.71M
$2.37M – $3.16M
NOI $189,825 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Explore this area
Business Placement
Demographics for 94044, CA
38,675
Population
14,609
Households
2.6
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
15.1 sq mi
ZIP Area
2,561
Density / Sq Mi
$156,658
Median Household Income
$75,296
Median Earnings
$3,075
Median Rent
$1,211,700
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?
Triplex - Recently painted exterior, shared laundry, and proximity to Ocean Beach support convenient residential living.
Where is this triplex located?
The property is located at 2416 Palmetto AVE Pacifica, CA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Three‑unit configuration with two 2‑bedroom, 2‑bathroom units and one 1‑bedroom, 1‑bathroom unit; One garage parking space for each unit; Shared laundry facilities
