Half Moon Bay Triplex Near
For Sale
$1,300,000
Pending
430 Pine Avenue, Half Moon Bay, CA 94019
Triplex near Main Street with ample parking and new roof.
Property Size3,834 SF
Days on Market187
Property Features for 430 Pine Avenue
General Information
Standard status
Pending
Size
3,834 SF
Total Parking Spaces
3
Property subtype
RESIDENTIAL INCOME / TRIPLEX
Taxes and HOA fees
Annual Taxes
$15,771
Amenities
Oven Range - Electric, Laundry Room
3
Building Details
Year Built
1987
Buildings
1
Stories
2
Listing Agency:
Compass
(415) 217-9387
Listed By:
Faye Liu · License #01877732
(415) 217-9387
Source:
Compass
Added: Feb 23
Changed: Aug 23
Last Checked: Jul 24 at 3:18PM
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.
This two-level triplex building is located west of Highway 1, near downtown Main Street. Situated on a corner lot on a quiet street, the property provides extra parking, with each unit having up to three parking spaces, including one-car attached garages, one-car attached carports, and one-car driveway parking spaces. The ground level features three separate laundry rooms and Unit 430, which includes three bedrooms and two bathrooms, encompassing approximately 1326 square feet. The upper level contains Unit 432 and Unit 434, each with a similar floor plan of approximately 924 square feet, featuring two bedrooms and one bathroom. Each unit has separate water, gas, and electrical meters, and tenants are responsible for all public utilities, including trash. A new roof was installed in 2024 with a 10-year warranty. The property is within walking distance of the beach, schools, a park, the Coastal Trail, a farmers market, dining, and shops, all within half a mile. It also offers an easy commute to San Francisco, Silicon Valley, and coastal areas. The bike score is 60, indicating bikeable conditions, while the walk score is 0, suggesting car dependence.
Key Highlights
- Triplex building near downtown Main Street and west of Hwy 1.
- Each unit has separate meters for water, gas, and electricity; tenants pay all utilities including trash.
- New roof installed in 2024 with a 10‑year warranty.**
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
$111,415
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
8.57%
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%
$2,228,300
$2.2M
Cap Rate 7%
$1,591,643
$1.6M
Cap Rate 9%
$1,237,944
$1.2M
Market Conditions
NOI Build-Up for 3,834 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
$170.2K $44.40/SF
− Vacancy
−$11.1K −$2.89/SF
EGI
$159.2K $41.51/SF
− OpEx
−$47.7K −$12.45/SF
NOI
$111.4K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /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%
$2,228,300
Cap Rate 7%
$1,591,643
Cap Rate 9%
$1,237,944
Alternative Uses
Best Use
Multifamily LT 5
$1.59M
$1.39M – $1.86M
NOI $111,415 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$1.49M
$1.30M – $1.74M
NOI $104,350 @ 7.0% cap · market cap 8.03%
Theoretical Best
Warehouse
$3.05M
$2.66M – $3.55M
NOI $213,177 @ 7.0% cap · market cap 16.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Explore this area
Business Placement
Demographics for 94019, CA
15,483
Population
5,849
Households
2.6
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
59.7 sq mi
ZIP Area
259
Density / Sq Mi
$153,272
Median Household Income
$72,042
Median Earnings
$1,977
Median Rent
$1,509,300
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 - Triplex near Main Street with ample parking and new roof.
Where is this triplex located?
The property is located at 430 Pine Avenue Half Moon Bay, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Triplex building near downtown Main Street and west of Hwy 1.; Each unit has separate meters for water, gas, and electricity; tenants pay all utilities including trash.; New roof installed in 2024 with a 10‑year warranty.**
