Renovated
For Sale
$585,000
505 Carpino Ave, Pittsburg, CA 94565
Two one-bedroom units with separate electric metering and a full interior and systems renovation.
Property Size1,380 SF
Price / SF$423.91
Days on Market91
Property Features for 505 Carpino Ave
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1952
Buildings
1
Listing Agency:
Pellego
(925) 788-4193
Listed By:
Eric Sadati · License #01319987
(925) 788-4193
Source:
Exitrealty
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 1:16PM
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 Pellego
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with one bedroom and one full bathroom. The 1,380-square-foot building was renovated throughout, including copper plumbing, an ABS sewer line, electrical work, and a new PG&E electric meter. Renovation work was completed with permits, and each unit has its own PG&E meter while the property shares one water meter.
Built in 1952, the property is occupied by two original tenants. The owner pays the water expense, while the units are separately metered for electricity. Both tenants have expressed interest in remaining at the property.
Built in 1952, the property is occupied by two original tenants. The owner pays the water expense, while the units are separately metered for electricity. Both tenants have expressed interest in remaining at the property.
Key Highlights
- Two‑unit building with 1,380 square feet
- Each unit includes 1 bedroom and 1 full bath
- Renovated throughout with new copper piping, ABS sewer line, and electrical work
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
$23,627
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
4.04%
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%
$472,540
$472.5K
Cap Rate 7%
$337,529
$337.5K
Cap Rate 9%
$262,522
$262.5K
Market Conditions
NOI Build-Up for 1,380 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
$35.6K $25.80/SF
− Vacancy
−$1.9K −$1.34/SF
EGI
$33.8K $24.46/SF
− OpEx
−$10.1K −$7.34/SF
NOI
$23.6K $17.12/SF
Area
Contra Costa County, CA
Vacancy
5.20%
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%
$472,540
Cap Rate 7%
$337,529
Cap Rate 9%
$262,522
Alternative Uses
Best Use
Multifamily LT 5
$337.5K
$295.3K – $393.8K
NOI $23,627 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$313.4K
$274.2K – $365.6K
NOI $21,937 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$521.6K
$456.4K – $608.6K
NOI $36,515 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
Explore this area
Business Placement
Demographics for 94565, CA
100,341
Population
31,173
Households
3.2
Avg Household Size
35
Median Age
22%
College-Educated
78%
High-School Grad
45.3 sq mi
ZIP Area
2,215
Density / Sq Mi
$95,035
Median Household Income
$44,149
Median Earnings
$2,145
Median Rent
$563,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two one-bedroom units with separate electric metering and a full interior and systems renovation.
Where is this duplex located?
The property is located at 505 Carpino Ave Pittsburg, CA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two‑unit building with 1,380 square feet; Each unit includes 1 bedroom and 1 full bath; Renovated throughout with new copper piping, ABS sewer line, and electrical work
