Turnkey Fourplex With In-Unit
For Sale
$1,100,000
431 Harding Ave, Sacramento, CA 95833
Renovated four-unit multifamily property with each unit offering 2 bed, 1 bath and its own stackable washer and dryer.
Property Size2,836 SF
Price / SF$387.87
Days on Market63
Property Features for 431 Harding Ave
General Information
Standard status
Active
Size
2,836 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Amenities
stackable washer and dryer
Building Details
Year Renovated
2022
Listing Agency:
eXp Realty of California Inc.
8327179
Listed By:
Ishrat Siddiqui · License #01449886
(916) 296-0917
Source:
Exprealty
Added: Jul 6
Changed: Sep 4
Last Checked: Sep 5 at 9:33AM
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 eXp Realty of California Inc.
Investment Insights
Based on property information with market context.
This turnkey fourplex includes four residential units, each configured with 2 bedrooms and 1 bathroom. Each unit also has its own stackable washer and dryer. The property was comprehensively renovated in October 2022 with a range of major improvements, including a new roof, HVAC systems, plumbing, electrical, windows, stucco, framing, kitchens, bathrooms, and bedrooms.
Tenants are responsible for their own electricity and gas. The property is situated on a large lot, which may present future development opportunities for a potential lot split to add an additional fourplex or to add up to three accessory dwelling units (ADUs). The buyer is responsible for independently verifying zoning, lot split potential, ADU opportunities, permits, development feasibility, and intended uses with the City of Sacramento and applicable governmental agencies.
Conveniently located near shopping, restaurants, schools, parks, Downtown Sacramento, Sacramento International Airport, public transportation, and major commuter routes, the property is positioned to support long-term rental appeal.
Tenants are responsible for their own electricity and gas. The property is situated on a large lot, which may present future development opportunities for a potential lot split to add an additional fourplex or to add up to three accessory dwelling units (ADUs). The buyer is responsible for independently verifying zoning, lot split potential, ADU opportunities, permits, development feasibility, and intended uses with the City of Sacramento and applicable governmental agencies.
Conveniently located near shopping, restaurants, schools, parks, Downtown Sacramento, Sacramento International Airport, public transportation, and major commuter routes, the property is positioned to support long-term rental appeal.
Key Highlights
- Renovated fourplex built in 1951 with four 2BD/1BA units.
- October 2022 comprehensive renovation included new roof, HVAC, plumbing, electrical, windows, stucco, framing, kitchens, bathrooms, and bedrooms.
- Each unit has its own stackable washer and dryer.
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
$48,401
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
4.40%
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%
$968,020
$968.0K
Cap Rate 7%
$691,443
$691.4K
Cap Rate 9%
$537,789
$537.8K
Market Conditions
NOI Build-Up for 2,836 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
$73.2K $25.80/SF
− Vacancy
−$4.0K −$1.42/SF
EGI
$69.1K $24.38/SF
− OpEx
−$20.7K −$7.31/SF
NOI
$48.4K $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%
$968,020
Cap Rate 7%
$691,443
Cap Rate 9%
$537,789
Alternative Uses
Best Use
Multifamily LT 5
$691.4K
$605.0K – $806.7K
NOI $48,401 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$636.4K
$556.9K – $742.5K
NOI $44,548 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$762.1K
$666.8K – $889.1K
NOI $53,345 @ 7.0% cap · market cap 4.85%
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
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 95833, CA
40,195
Population
16,751
Households
2.4
Avg Household Size
34
Median Age
32%
College-Educated
89%
High-School Grad
8.1 sq mi
ZIP Area
4,962
Density / Sq Mi
$87,016
Median Household Income
$50,997
Median Earnings
$1,835
Median Rent
$439,700
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 - Renovated four-unit multifamily property with each unit offering 2 bed, 1 bath and its own stackable washer and dryer.
Where is this quadplex located?
The property is located at 431 Harding Ave Sacramento, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Renovated fourplex built in 1951 with four 2BD/1BA units.; October 2022 comprehensive renovation included new roof, HVAC, plumbing, electrical, windows, stucco, framing, kitchens, bathrooms, and bedrooms.; Each unit has its own stackable washer and dryer.
