Triplex with Private
For Sale
$1,195,000
Pending
33638 9th Street, Union City, CA 94587
Two-story triplex offers three two-bedroom units with private garages, individual gas and electric meters, and in-unit laundry.
Property Size2,250 SF
Days on Market158
Property Features for 33638 9th Street
General Information
Standard status
Pending
Size
2,250 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,092
Building Details
Year Built
1963
Stories
2
Listing Agency:
Compass
(650) 770-8356
Listed By:
Tony Zizzo · License #01962093
(650) 770-8356
Source:
Exitrealty
Added: Mar 13
Changed: Aug 12
Last Checked: Aug 11 at 7:40AM
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 Compass
Investment Insights
Based on property information with market context.
33638 9th Street is a well-maintained two-story triplex containing three spacious two-bedroom, one-bath units. Each unit is described as having a similar, functional floor plan, supporting an easy-to-manage living layout across the property. Unit 3 is noted to offer a mirrored arrangement with an exposed ceiling detail for a distinctive architectural touch while keeping overall efficiency consistent. The property includes three separate water heaters, and each unit is individually metered for gas and electricity. Every unit also has its own oversized private garage with an individual washer and dryer, designed for tenant convenience.
The building is located in a Union City neighborhood with commuter access to Union City BART Station described as minutes away. This proximity to major transit supports the property’s appeal to renters seeking convenient daily transportation.
For buyers evaluating a residential income asset, the consistent two-bedroom configuration and individually metered utilities can help streamline operations compared to shared metering. The unit-level laundry and private garages are also likely to be attractive day-to-day amenities for tenant retention. The roof replacement completed about two years ago is a further operational consideration for an owner looking to reduce near-term capital concerns.
The building is located in a Union City neighborhood with commuter access to Union City BART Station described as minutes away. This proximity to major transit supports the property’s appeal to renters seeking convenient daily transportation.
For buyers evaluating a residential income asset, the consistent two-bedroom configuration and individually metered utilities can help streamline operations compared to shared metering. The unit-level laundry and private garages are also likely to be attractive day-to-day amenities for tenant retention. The roof replacement completed about two years ago is a further operational consideration for an owner looking to reduce near-term capital concerns.
Key Highlights
- Two‑story triplex built in 1963 with three 2‑bedroom/1‑bath units
- Each unit has an oversized private garage plus in‑unit washer and dryer
- Units are individually metered for gas and electricity, with three separate water heaters for the building
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
$75,522
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
6.32%
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%
$1,510,440
$1.5M
Cap Rate 7%
$1,078,886
$1.1M
Cap Rate 9%
$839,133
$839.1K
Market Conditions
NOI Build-Up for 2,250 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
$114.8K $51.00/SF
− Vacancy
−$6.9K −$3.05/SF
EGI
$107.9K $47.95/SF
− OpEx
−$32.4K −$14.39/SF
NOI
$75.5K $33.57/SF
Area
Alameda County, CA
Vacancy
5.98%
Lease Rate
$51.00 /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%
$1,510,440
Cap Rate 7%
$1,078,886
Cap Rate 9%
$839,133
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$944.0K – $1.26M
NOI $75,522 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$465.6K
$407.4K – $543.2K
NOI $32,594 @ 7.0% cap · market cap 2.73%
Theoretical Best
Retail
$10.26M
$8.98M – $11.97M
NOI $718,035 @ 7.0% cap · market cap 60.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 94587, CA
70,121
Population
21,923
Households
3.2
Avg Household Size
40
Median Age
45%
College-Educated
87%
High-School Grad
19.6 sq mi
ZIP Area
3,578
Density / Sq Mi
$137,194
Median Household Income
$66,405
Median Earnings
$2,713
Median Rent
$1,058,200
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?
Triplex - Two-story triplex offers three two-bedroom units with private garages, individual gas and electric meters, and in-unit laundry.
Where is this triplex located?
The property is located at 33638 9th Street Union City, CA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Two‑story triplex built in 1963 with three 2‑bedroom/1‑bath units; Each unit has an oversized private garage plus in‑unit washer and dryer; Units are individually metered for gas and electricity, with three separate water heaters for the building
