Triplex with Approved
For Sale
$850,000
Pending
5945 Oak Avenue, Carmichael, CA 95608
Vacant triplex with approved plans, updated interiors, in-unit laundry, and multiple enclosed parking spaces.
Property Size4,089 SF
Days on Market76
Property Features for 5945 Oak Avenue
General Information
Standard status
Pending
Size
4,089 SF
Total Parking Spaces
12
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
3
Amenities
in-unit laundry
Building Details
Year Built
1975
Buildings
1
Listing Agency:
eXp Realty of California Inc.
(916) 202-4042
Listed By:
Alexis Z. Mcgee · License #00876670
(916) 202-4042
Source:
Exitrealty
Added: Jun 16
Changed: Aug 29
Last Checked: Aug 30 at 1:55PM
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.
Located at 5945 Oak Avenue in Carmichael, this vacant triplex contains 4,089 square feet and was built in 1975. The planned configuration includes two three-bedroom, two-bath units and one two-bedroom, two-bath upper unit. The larger units have updated interiors, in-unit laundry, and attached two-car garages, while the upper unit also includes in-unit laundry.
The property includes stamped approved plans, permits, architectural renderings, and general contractor bids for completing the existing three-unit configuration. Additional parking is provided by a four-car garage and a four-car covered carport. An unfinished lower level, excluded from the stated square footage, is planned for storage and utility use; a future attached ADU is subject to buyer investigation, County approval, and permit requirements.
The property is directly across from Riverwood Gated Community Resort and offers nearby access to the American River Parkway.
The property includes stamped approved plans, permits, architectural renderings, and general contractor bids for completing the existing three-unit configuration. Additional parking is provided by a four-car garage and a four-car covered carport. An unfinished lower level, excluded from the stated square footage, is planned for storage and utility use; a future attached ADU is subject to buyer investigation, County approval, and permit requirements.
The property is directly across from Riverwood Gated Community Resort and offers nearby access to the American River Parkway.
Key Highlights
- Existing 3‑unit property with two 3 bed / 2 bath units and one 2 bed / 2 bath unit
- 4,089 square feet on a 1975‑built property
- Stamped approved plans, permits, full renderings, and GC bids 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
$59,438
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
6.99%
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%
$1,188,760
$1.2M
Cap Rate 7%
$849,114
$849.1K
Cap Rate 9%
$660,422
$660.4K
Market Conditions
NOI Build-Up for 4,089 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
$90.8K $22.20/SF
− Vacancy
−$5.9K −$1.43/SF
EGI
$84.9K $20.77/SF
− OpEx
−$25.5K −$6.23/SF
NOI
$59.4K $14.54/SF
Area
Sacramento County, CA
Vacancy
6.46%
Lease Rate
$22.20 /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%
$1,188,760
Cap Rate 7%
$849,114
Cap Rate 9%
$660,422
Alternative Uses
Best Use
Multifamily LT 5
$849.1K
$743.0K – $990.6K
NOI $59,438 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$779.7K
$682.3K – $909.7K
NOI $54,580 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$1.09M
$953.2K – $1.27M
NOI $76,253 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 95608, CA
65,367
Population
27,312
Households
2.4
Avg Household Size
43
Median Age
36%
College-Educated
92%
High-School Grad
13.2 sq mi
ZIP Area
4,952
Density / Sq Mi
$83,638
Median Household Income
$45,625
Median Earnings
$1,549
Median Rent
$565,600
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?
Triplex - Vacant triplex with approved plans, updated interiors, in-unit laundry, and multiple enclosed parking spaces.
Where is this triplex located?
The property is located at 5945 Oak Avenue Carmichael, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Existing 3‑unit property with two 3 bed / 2 bath units and one 2 bed / 2 bath unit; 4,089 square feet on a 1975‑built property; Stamped approved plans, permits, full renderings, and GC bids included
