Updated Condo in Mountain
For Sale
$460,000
292 W Lucita Way Mountain, Tracy, CA 95391
Updated 2-bedroom, 2-bathroom condo with desirable location and move-in readiness.
Property Size1,275 SF
Price / SF$360.78
Days on Market391
Property Features for 292 W Lucita Way Mountain
General Information
Standard status
Active
Size
1,275 SF
Property subtype
Condominium
Amenities
Central
Central Air
Ceiling Fan(s)
Dishwasher
Microwave
Range
Refrigerator
Dryer
Washer
Building Details
Building Size
1,275 SF
Year Built
2006
Stories
2
Listing Agency:
Pleasanton / Livermore
(925) 344-9983
Listed By:
Teresa Hartford · License #DRE
(925) 344-9983
Source:
Kw
Added: Jul 30, 2025
Changed: Aug 17
Last Checked: Aug 24 at 3:29PM
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 Pleasanton / Livermore
Investment Insights
Based on property information with market context.
This updated condo features 1,275 sq ft of open-concept living space with two bedrooms and two bathrooms. The interior has been upgraded and features fresh paint and newer flooring. The layout includes two private decks and an abundance of natural light. Located in a desirable neighborhood, this end unit condo is within walking distance to parks, a farmers market, top-rated schools, a brand-new library, and scenic greenbelt paths. Shopping, parks, and trails are also located nearby. The property is located in the Mountain House neighborhood at Cambridge.
Key Highlights
- Prime location in a desirable neighborhood, walking distance to parks, farmers market, top‑rated schools, a new library, and greenbelt paths.
- Updated 2‑bedroom, 2‑bathroom end unit condo with 1,275 sq ft of open‑concept living.
- Move‑in ready condition with fresh paint, newer flooring, and interior upgrades.
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
$15,672
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
3.41%
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%
$313,440
$313.4K
Cap Rate 7%
$223,886
$223.9K
Cap Rate 9%
$174,133
$174.1K
Market Conditions
NOI Build-Up for 1,275 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
$29.7K $23.28/SF
− Vacancy
−$1.2K −$0.93/SF
EGI
$28.5K $22.35/SF
− OpEx
−$12.8K −$10.06/SF
NOI
$15.7K $12.29/SF
Area
San Joaquin County, CA
Vacancy
4.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$313,440
Cap Rate 7%
$223,886
Cap Rate 9%
$174,133
Alternative Uses
Best Use
Apartment 5plus
$223.9K
$195.9K – $261.2K
NOI $15,672 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$280.0K
$245.0K – $326.7K
NOI $19,599 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Explore this area
Business Placement
Demographics for 95391, CA
24,709
Population
7,005
Households
3.5
Avg Household Size
33
Median Age
51%
College-Educated
92%
High-School Grad
26.9 sq mi
ZIP Area
919
Density / Sq Mi
$171,510
Median Household Income
$71,148
Median Earnings
$3,232
Median Rent
$859,600
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?
Apartment building - Updated 2-bedroom, 2-bathroom condo with desirable location and move-in readiness.
Where is this apartment building located?
The property is located at 292 W Lucita Way Mountain Tracy, CA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Prime location in a desirable neighborhood, walking distance to parks, farmers market, top‑rated schools, a new library, and greenbelt paths.; Updated 2‑bedroom, 2‑bathroom end unit condo with 1,275 sq ft of open‑concept living.; Move‑in ready condition with fresh paint, newer flooring, and interior upgrades.
