Residential Income Duplex
For Sale
$825,000
Pending
308 N Vanderhurst Avenue, King City, CA 93930
Three rental units are situated on a 9,500 SF lot, including two 1-bedroom/1-bath garages plus carport and driveway parking.
Property Size1,824 SF
Days on Market48
Property Features for 308 N Vanderhurst Avenue
General Information
Standard status
Pending
Size
1,824 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,159
Building Details
Year Built
1958
Listing Agency:
Lynnie O Real Estate
Listed By:
Lynette Oliveira · License #00645576
(831) 235-1946
Source:
Exitrealty
Added: Jul 20
Changed: Aug 8
Last Checked: Jul 25 at 3:42AM
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 Lynnie O Real Estate
Investment Insights
Based on property information with market context.
This residential income property features a mix of units configured for long-term occupancy. The front unit offers 722 SF with 2 bedrooms and 1 bathroom, hardwood floors, storage, and a rear patio, along with a carport and a storage building with laundry. A long driveway provides access to a well-maintained duplex, with two separate 598 SF units, each offering 1 bedroom and 1 bathroom, hardwood and linoleum flooring, a 1-car garage, and parking for two additional vehicles per unit.
The property is located in King City near schools, shopping, and downtown, and sits on a large 9,500 SF lot. The seller has maintained the property responsibly, and the roof is described as brand new.
Overall, the improvements include garages, additional off-street parking, and on-site laundry facilities within the storage building serving the front unit.
The property is located in King City near schools, shopping, and downtown, and sits on a large 9,500 SF lot. The seller has maintained the property responsibly, and the roof is described as brand new.
Overall, the improvements include garages, additional off-street parking, and on-site laundry facilities within the storage building serving the front unit.
Key Highlights
- Three rental units on a 9,500 SF lot in King City, built in 1958
- Front unit: 722 SF, 2 bed/1 bath with hardwood floors, rear patio, carport, and storage building with laundry
- Each rear unit is 598 SF with 1 bed/1 bath, hardwood and linoleum flooring
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
$31,858
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
3.86%
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%
$637,160
$637.2K
Cap Rate 7%
$455,114
$455.1K
Cap Rate 9%
$353,978
$354.0K
Market Conditions
NOI Build-Up for 1,824 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
$46.6K $25.56/SF
− Vacancy
−$1.1K −$0.61/SF
EGI
$45.5K $24.95/SF
− OpEx
−$13.7K −$7.49/SF
NOI
$31.9K $17.47/SF
Area
Monterey County, CA
Vacancy
2.38%
Lease Rate
$25.56 /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%
$637,160
Cap Rate 7%
$455,114
Cap Rate 9%
$353,978
Alternative Uses
Best Use
Multifamily LT 5
$455.1K
$398.2K – $531.0K
NOI $31,858 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$419.2K
$366.8K – $489.1K
NOI $29,344 @ 7.0% cap · market cap 3.56%
Theoretical Best
Specialty Retail
$696.5K
$609.4K – $812.5K
NOI $48,752 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 93930, CA
16,206
Population
4,744
Households
3.4
Avg Household Size
30
Median Age
15%
College-Educated
59%
High-School Grad
343.3 sq mi
ZIP Area
47
Density / Sq Mi
$72,555
Median Household Income
$32,357
Median Earnings
$1,537
Median Rent
$404,000
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?
Duplex - Three rental units are situated on a 9,500 SF lot, including two 1-bedroom/1-bath garages plus carport and driveway parking.
Where is this duplex located?
The property is located at 308 N Vanderhurst Avenue King City, CA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Three rental units on a 9,500 SF lot in King City, built in 1958; Front unit: 722 SF, 2 bed/1 bath with hardwood floors, rear patio, carport, and storage building with laundry; Each rear unit is 598 SF with 1 bed/1 bath, hardwood and linoleum flooring
