New Multifamily Community in
For Sale
$3,995,000
3030 Byron Road, Tracy, CA 95377
Six-unit multifamily property in Tracy with luxury finishes and modern amenities.
Property Size17,810 SF
Lot Size1.07 Acres
Price / SF$224.31
Days on Market214
Property Features for 3030 Byron Road
General Information
Standard status
Active
Size
17,810 SF
Lot size
1.07 Acres
Property subtype
Commercial
Amenities
Central air
Hookup - Washer/Dryer
Attached Garage
Central -1 Zone Cooling
Central Forced Air Heating
Composition Roof
Gate / Door Opener
Guest Parking
Level
Regular
Tile Flooring
Vinyl Flooring
Building Details
Year Built
2026
Listing Agency:
KELLER WILLIAMS TRI-VALLEY
(925) 397-4200
Listed By:
SEAN KL JACKSON
Source:
Corcoran
Added: Jan 9
Changed: Aug 8
Last Checked: Aug 8 at 1:18PM
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 KELLER WILLIAMS TRI-VALLEY
Investment Insights
Based on property information with market context.
This six-unit multifamily community is located on the west side of Tracy. Situated on a 1.07-acre parcel, this newly constructed built-to-rent property features a gross building area of 17,810 square feet. The property offers two distinct four-bedroom, three-and-a-half-bathroom floor plans, all with luxury finishes, gas fireplaces, ample storage, and private backyards. Each unit includes an attached two-car garage that is EV-charger ready, as well as washer and dryer hookups. Delivered vacant, the property offers full control from day one, with no legacy tenants, deferred maintenance, or operational guesswork. Located in a non-rent-controlled city, investors can implement their own lease-up strategy aligned with current market demand rather than inheriting past decisions. This property is intended for residential income purposes.
Key Highlights
- Newly Constructed Built‑to‑Rent 6‑Unit Multifamily Community (Built in 2026)
- Delivered Vacant: Full Control, No Legacy Tenants, Deferred Maintenance, or Operational Guesswork
- Located in a Non‑Rent‑Controlled City
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
$218,918
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
5.48%
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%
$4,378,360
$4.4M
Cap Rate 7%
$3,127,400
$3.1M
Cap Rate 9%
$2,432,422
$2.4M
Market Conditions
NOI Build-Up for 17,810 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
$414.6K $23.28/SF
− Vacancy
−$16.6K −$0.93/SF
EGI
$398.0K $22.35/SF
− OpEx
−$179.1K −$10.06/SF
NOI
$218.9K $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%
$4,378,360
Cap Rate 7%
$3,127,400
Cap Rate 9%
$2,432,422
Alternative Uses
Best Use
Apartment 5plus
$3.13M
$2.74M – $3.65M
NOI $218,918 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.91M
$3.42M – $4.56M
NOI $273,775 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Explore this area
Business Placement
Demographics for 95377, CA
34,590
Population
9,907
Households
3.5
Avg Household Size
36
Median Age
34%
College-Educated
88%
High-School Grad
110.0 sq mi
ZIP Area
314
Density / Sq Mi
$155,984
Median Household Income
$62,526
Median Earnings
$2,837
Median Rent
$773,500
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 - Six-unit multifamily property in Tracy with luxury finishes and modern amenities.
Where is this apartment building located?
The property is located at 3030 Byron Road Tracy, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Newly Constructed Built‑to‑Rent 6‑Unit Multifamily Community (Built in 2026); Delivered Vacant: Full Control, No Legacy Tenants, Deferred Maintenance, or Operational Guesswork; Located in a Non‑Rent‑Controlled City
