Fourplex Residential Income
For Sale
$1,250,000
709 Pope Dr, Vallejo, CA 94591
Well-maintained fourplex with separately metered gas and electricity for each unit.
Property Size4,265 SF
Price / SF$293.08
Days on Market65
Property Features for 709 Pope Dr
General Information
Standard status
Active
Size
4,265 SF
Property subtype
Multi Family
Additional Details
Cap Rate
6.9%
Multifamily Units
4
Building Details
Year Built
1969
Listing Agency:
CENTURY 21 Masters
(510) 257-4441
Listed By:
John L. Morra · License #01884598
(510) 200-4449
Source:
Exitrealty
Added: Jul 4
Changed: Sep 2
Last Checked: Sep 5 at 4:41AM
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 CENTURY 21 Masters
Investment Insights
Based on property information with market context.
This well-maintained fourplex is offered for sale and consists of four residential units. Each unit is separately metered for gas and electricity, which can help reduce shared utility expense considerations for the owner.
The property is located in Vallejo, California, where local rent control is not indicated in the remarks. The public information states the asset is subject to California statewide rent control, with annual rent increases described as up to 5% plus CPI.
With in-place rental income described in the remarks as near current market levels, the property is positioned as an income-producing multifamily asset.
The property is located in Vallejo, California, where local rent control is not indicated in the remarks. The public information states the asset is subject to California statewide rent control, with annual rent increases described as up to 5% plus CPI.
With in-place rental income described in the remarks as near current market levels, the property is positioned as an income-producing multifamily asset.
Key Highlights
- Well‑maintained fourplex built in 1969
- Rents near current market levels for strong in‑place income
- Each unit is separately metered for gas and electricity
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
$82,946
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
6.64%
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%
$1,658,920
$1.7M
Cap Rate 7%
$1,184,943
$1.2M
Cap Rate 9%
$921,622
$921.6K
Market Conditions
NOI Build-Up for 4,265 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
$125.4K $29.40/SF
− Vacancy
−$6.9K −$1.62/SF
EGI
$118.5K $27.78/SF
− OpEx
−$35.5K −$8.33/SF
NOI
$82.9K $19.45/SF
Area
Vallejo, CA
Vacancy
5.50%
Lease Rate
$29.40 /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%
$1,658,920
Cap Rate 7%
$1,184,943
Cap Rate 9%
$921,622
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.04M – $1.38M
NOI $82,946 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$1.06M
$931.2K – $1.24M
NOI $74,498 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$2.08M
$1.82M – $2.42M
NOI $145,300 @ 7.0% cap · market cap 11.62%
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
187
Businesses Nearby
Explore this area
Business Placement
Demographics for 94591, CA
56,305
Population
20,543
Households
2.7
Avg Household Size
42
Median Age
31%
College-Educated
89%
High-School Grad
21.1 sq mi
ZIP Area
2,668
Density / Sq Mi
$107,849
Median Household Income
$50,607
Median Earnings
$2,218
Median Rent
$602,200
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?
Quadplex - Well-maintained fourplex with separately metered gas and electricity for each unit.
Where is this quadplex located?
The property is located at 709 Pope Dr Vallejo, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Well‑maintained fourplex built in 1969; Rents near current market levels for strong in‑place income; Each unit is separately metered for gas and electricity
