Nevada City Multifamily
For Sale
Contact for pricing
Pending
475 Spring St, Nevada City, CA 95959
Multifamily property in Nevada City, CA with 7.12% CAP.
Property Size9,200 SF
Days on Market142
Property Features for 475 Spring St
General Information
Standard status
Pending
Size
9,200 SF
Property subtype
Multifamily
Occupancy
100%
Building Details
Year Built
1964
Buildings
2
Stories
2
Units
12
Listing Agency:
ALIVE Commercial Real Estate
(530) 401-1885
Listed By:
Spencer Moyer · License #CA 01940191
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Jul 24 at 4:12PM
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 ALIVE Commercial Real Estate
Investment Insights
Based on property information with market context.
This multifamily property is located in Nevada City, CA. The property has a size of 9,200 square feet and is listed for sale at $2,050,000, offering a 7.12% CAP rate. The property is suitable for residential income purposes.
Key Highlights
- Just Listed: Investment Opportunity
- Boasting a 7.12% CAP Rate
- Priced at $2,050,000
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
$121,136
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
5.91%
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%
$2,422,720
$2.4M
Cap Rate 7%
$1,730,514
$1.7M
Cap Rate 9%
$1,345,956
$1.3M
Market Conditions
NOI Build-Up for 9,200 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
$231.8K $25.20/SF
− Vacancy
−$11.6K −$1.26/SF
EGI
$220.2K $23.94/SF
− OpEx
−$99.1K −$10.77/SF
NOI
$121.1K $13.17/SF
Area
Nevada County, CA
Vacancy
5.00%
Lease Rate
$25.20 /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%
$2,422,720
Cap Rate 7%
$1,730,514
Cap Rate 9%
$1,345,956
Alternative Uses
Best Use
Apartment 5plus
$1.73M
$1.51M – $2.02M
NOI $121,136 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.29M
$2.88M – $3.84M
NOI $230,242 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,046
Businesses Nearby
Explore this area
Business Placement
Demographics for 95959, CA
18,621
Population
8,840
Households
2.1
Avg Household Size
53
Median Age
45%
College-Educated
96%
High-School Grad
311.9 sq mi
ZIP Area
60
Density / Sq Mi
$79,509
Median Household Income
$36,160
Median Earnings
$1,715
Median Rent
$603,200
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?
Apartment building - Multifamily property in Nevada City, CA with 7.12% CAP.
Where is this apartment building located?
The property is located at 475 Spring St Nevada City, CA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Just Listed: Investment Opportunity; Boasting a 7.12% CAP Rate; Priced at $2,050,000
