Residential Income
For Sale
$2,248,000
3851 Vineyard Ave, Pleasanton, CA 94566
The property includes forced-air heating, washer and dryer appliances, and a garage.
Property Size4,350 SF
Price / SF$516.78
Days on Market63
Property Features for 3851 Vineyard Ave
General Information
Standard status
Active
Size
4,350 SF
Property subtype
Multi Family
Building Details
Year Built
1945
Listing Agency:
Investment Real Estate
Listed By:
Mike Carey · License #01055545
(925) 963-0569
Source:
Exitrealty
Added: Aug 1
Changed: Sep 9
Last Checked: Sep 15 at 5:57AM
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 Investment Real Estate
Investment Insights
Based on property information with market context.
This residential income property was built in 1945 and includes forced-air heating, a washer, a dryer, and a garage. The recorded address is 3851 Vineyard Ave in Pleasanton, with Adams identified as the cross street. The property is located in Alameda County.
Key Highlights
- Built in 1945
- Forced‑air heating system
- Washer and dryer included
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
$63,014
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
2.80%
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%
$1,260,280
$1.3M
Cap Rate 7%
$900,200
$900.2K
Cap Rate 9%
$700,156
$700.2K
Market Conditions
NOI Build-Up for 4,350 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
$121.6K $27.96/SF
− Vacancy
−$7.1K −$1.62/SF
EGI
$114.6K $26.34/SF
− OpEx
−$51.6K −$11.85/SF
NOI
$63.0K $14.49/SF
Area
Alameda County, CA
Vacancy
5.80%
Lease Rate
$27.96 /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%
$1,260,280
Cap Rate 7%
$900,200
Cap Rate 9%
$700,156
Alternative Uses
Best Use
Apartment 5plus
$900.2K
$787.7K – $1.05M
NOI $63,014 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$19.83M
$17.35M – $23.14M
NOI $1,388,200 @ 7.0% cap · market cap 61.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 94566, CA
45,055
Population
16,698
Households
2.7
Avg Household Size
43
Median Age
67%
College-Educated
95%
High-School Grad
20.3 sq mi
ZIP Area
2,219
Density / Sq Mi
$187,721
Median Household Income
$104,642
Median Earnings
$2,639
Median Rent
$1,592,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The property includes forced-air heating, washer and dryer appliances, and a garage.
Where is this residential income property located?
The property is located at 3851 Vineyard Ave Pleasanton, CA.
What is the asking price?
The asking price for this property is $2,248,000.
What are key features of this property?
This property features: Built in 1945; Forced‑air heating system; Washer and dryer included
