Remodeled Four-Unit Multifamily
For Sale
$898,000
3355 Lerwick Road, Sacramento, CA 95821
Four residences feature updated interiors and private washers and dryers.
Property Size3,640 SF
Days on Market18
Property Features for 3355 Lerwick Road
General Information
Standard status
Active
Size
3,640 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Amenities
in-unit washers and dryers
Building Details
Building Size
3,640 SF
Year Built
1963
Listing Agency:
North Coast Commercial, Inc.
(916) 979-9930
Listed By:
Timothy Swanston · License #01887506
Source:
Teamnavigate
Added: Aug 13
Changed: Aug 24
Last Checked: Aug 29 at 5:02PM
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 North Coast Commercial, Inc.
Investment Insights
Based on property information with market context.
Located at 3355 Lerwick Rd in Sacramento, this four-unit multifamily property includes remodeled interiors and approximately 900-plus-square-foot floor plans. Each residence has its own washer and dryer, adding practical in-unit laundry functionality across the building.
The property totals 3,676 square feet. Exterior elevated-element work required under SB 721 has been completed, addressing a significant capital improvement item for the asset.
The property totals 3,676 square feet. Exterior elevated-element work required under SB 721 has been completed, addressing a significant capital improvement item for the asset.
Key Highlights
- Four‑unit multifamily property at 3355 Lerwick Rd, Sacramento, CA
- 3,676‑square‑foot property with 900+ square‑foot floor plans
- Remodeled interiors throughout the residences
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
$62,123
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
6.92%
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%
$1,242,460
$1.2M
Cap Rate 7%
$887,471
$887.5K
Cap Rate 9%
$690,256
$690.3K
Market Conditions
NOI Build-Up for 3,640 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
$93.9K $25.80/SF
− Vacancy
−$5.2K −$1.42/SF
EGI
$88.7K $24.38/SF
− OpEx
−$26.6K −$7.31/SF
NOI
$62.1K $17.07/SF
Area
Sacramento, CA
Vacancy
5.50%
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%
$1,242,460
Cap Rate 7%
$887,471
Cap Rate 9%
$690,256
Alternative Uses
Best Use
Multifamily LT 5
$887.5K
$776.5K – $1.04M
NOI $62,123 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$816.8K
$714.7K – $953.0K
NOI $57,177 @ 7.0% cap · market cap 6.37%
Theoretical Best
Specialty Retail
$978.1K
$855.9K – $1.14M
NOI $68,468 @ 7.0% cap · market cap 7.62%
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
798
Businesses Nearby
Explore this area
Business Placement
Demographics for 95821, CA
39,310
Population
16,403
Households
2.4
Avg Household Size
37
Median Age
28%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
5,537
Density / Sq Mi
$58,331
Median Household Income
$41,630
Median Earnings
$1,342
Median Rent
$470,900
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 residences feature updated interiors and private washers and dryers.
Where is this quadplex located?
The property is located at 3355 Lerwick Road Sacramento, CA.
What is the asking price?
The asking price for this property is $898,000.
What are key features of this property?
This property features: Four‑unit multifamily property at 3355 Lerwick Rd, Sacramento, CA; 3,676‑square‑foot property with 900+ square‑foot floor plans; Remodeled interiors throughout the residences
