Lakefront Quadplex with Updated
For Sale
$1,200,000
3 Alhambra Ct, Antioch, CA 94509
Four garden-style apartments feature one- and two-bedroom layouts with in-unit laundry, storage, and covered parking.
Property Size3,328 SF
Lot Size0.16 Acres
Price / SF$360.58
Days on Market129
Property Features for 3 Alhambra Ct
General Information
Standard status
Active
Size
3,328 SF
Lot size
0.16 Acres
Property subtype
Investment
Additional Details
Multifamily Units
4
Amenities
covered parking
in-unit laundry
storage
Building Details
Year Built
1975
Units
4
Construction
garden-style
Listing Agency:
UNITED APARTMENT GROUP
(925) 322-1474
Listed By:
Theodore Booras · License #01147469
(925) 322-1474
Source:
Elliman
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 29 at 3:18PM
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 UNITED APARTMENT GROUP
Investment Insights
Based on property information with market context.
Built in 1975, this lakefront quadplex contains four garden apartments totaling 3,328 square feet. The unit mix includes updated one- and two-bedroom layouts, with in-unit laundry, storage, and covered parking supporting resident functionality. The property occupies a 6,840-square-foot lot along Lake Alhambra in Antioch.
Recent property improvements include a new roof, and the building is identified as SB721 compliant. Homeowners association benefits are also associated with the property. The site has a Walk Score of 44, a Transit Score of 36, and a Bike Score of 39.
Recent property improvements include a new roof, and the building is identified as SB721 compliant. Homeowners association benefits are also associated with the property. The site has a Walk Score of 44, a Transit Score of 36, and a Bike Score of 39.
Key Highlights
- Four garden apartments totaling 3,328 SF
- Lakefront property on Lake Alhambra
- 6,840 SF lakefront lot
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
$56,978
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
4.75%
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%
$1,139,560
$1.1M
Cap Rate 7%
$813,971
$814.0K
Cap Rate 9%
$633,089
$633.1K
Market Conditions
NOI Build-Up for 3,328 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
$85.9K $25.80/SF
− Vacancy
−$4.5K −$1.34/SF
EGI
$81.4K $24.46/SF
− OpEx
−$24.4K −$7.34/SF
NOI
$57.0K $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%
$1,139,560
Cap Rate 7%
$813,971
Cap Rate 9%
$633,089
Alternative Uses
Best Use
Multifamily LT 5
$814.0K
$712.2K – $949.6K
NOI $56,978 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$756.6K
$662.0K – $882.7K
NOI $52,959 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$1.01M
$882.1K – $1.18M
NOI $70,567 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
460
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four garden-style apartments feature one- and two-bedroom layouts with in-unit laundry, storage, and covered parking.
Where is this quadplex located?
The property is located at 3 Alhambra Ct Antioch, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four garden apartments totaling 3,328 SF; Lakefront property on Lake Alhambra; 6,840 SF lakefront lot
