Listing Agency: Bob White Agency

Listed By: Bob White · License #00641326 Show Phone

Source: Exprealty

Added: Oct 20 Changed: Oct 23 Last Checked: Oct 24 at 7:38PM

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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 Bob White Agency

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Investment Insights

Based on property information with market context.

The property includes two older residential units on a 30,000-square-foot lot. Both units are occupied by tenants who have remained in place for several years.

R-M zoning identifies the site for multifamily residential use.

Key Highlights

• Two residential units on one parcel
• 30,000‑square‑foot lot
• R‑M zoning for multifamily residential use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,035

Cap Rate

4.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$600,700 $600.7K

Cap Rate 7%

$429,071 $429.1K

Cap Rate 9%

$333,722 $333.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,867 SF

Gross rent

$56.0K $30.00/SF

− Vacancy

−$1.4K −$0.75/SF

EGI

$54.6K $29.25/SF

− OpEx

−$24.6K −$13.16/SF

NOI

$30.0K $16.09/SF

Area

Monterey County, CA

Vacancy

2.50%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$600,700

Cap Rate 7%

$429,071

Cap Rate 9%

$333,722

Alternative Uses

Best Use

Apartment 5plus

$429.1K

$375.4K – $500.6K (±1% cap)

NOI $30,035 @ 7.0% cap · market cap 4.29%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$712.9K

$623.8K – $831.7K (±1% cap)

NOI $49,902 @ 7.0% cap · market cap 7.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

300

Businesses Nearby

Explore this area Business Placement

Demographics for 93927, CA

19,976

Population

5,037

Households

4

Avg Household Size

28

Median Age

9%

College-Educated

50%

High-School Grad

210.1 sq mi

ZIP Area

95

Density / Sq Mi

$77,272

Median Household Income

$34,140

Median Earnings

$1,658

Median Rent

$463,600

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - R-M zoning designates the site for multifamily residential use.

Where is this multifamily property located?

The property is located at 334 Oak Avenue Greenfield, CA.

What is the asking price?

The asking price for this property is $700,000.

What are key features of this property?

This property features: Two residential units on one parcel; 30,000‑square‑foot lot; R‑M zoning for multifamily residential use