Fourplex Residential Income
For Sale
$1,050,000
764 Pierce St, Albany, CA 94706
Fourplex with two one-bedroom and two two-bedroom units, each with laundry hookups and dedicated driveway parking.
Property Size2,820 SF
Lot Size0.11 Acres
Price / SF$372.34
Days on Market110
Property Features for 764 Pierce St
General Information
Standard status
Active
Size
2,820 SF
Total Parking Spaces
6
Lot size
0.11 Acres
Property subtype
Quadruplex
Additional Details
Highway Access
Yes
Drive-In Doors
2
Multifamily Units
4
Amenities
in-unit laundry
shared backyard
mature trees
side yard access
No Air Conditioning
Wall Furnace
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
RE/MAX Accord
Listed By:
Nancy Sutorius · License #628232
(925) 367-7414
Source:
Kw
Added: Jul 10
Changed: Oct 27
Last Checked: Oct 26 at 9:13PM
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 RE/MAX Accord
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Investment Insights
Based on property information with market context.
Fourplex residential income property at 764 Pierce St, Albany. The building is approximately 2,820 square feet and sits on a 5,000 square foot lot. There are two (2) one-bedroom units and two (2) two-bedroom units. Each unit has its own laundry room with hook-ups, and tenants each have a designated parking space in the driveway. The property includes a two-car garage and a large basement that is not used by tenants.
Exterior and site features include a shared backyard and side yard access with both cement and grass areas. Two new garage doors have been installed. Back stairs are in the process of being repaired. The property has long-term tenants, with low vacancy and low rents, and includes mature trees. It is close to freeway access, and a bus line goes by the property.
Please do not disturb tenants. An open house is scheduled for Sun July 26 from 1:00 for one unit only.
Exterior and site features include a shared backyard and side yard access with both cement and grass areas. Two new garage doors have been installed. Back stairs are in the process of being repaired. The property has long-term tenants, with low vacancy and low rents, and includes mature trees. It is close to freeway access, and a bus line goes by the property.
Please do not disturb tenants. An open house is scheduled for Sun July 26 from 1:00 for one unit only.
Key Highlights
- Fourplex built in 1950 with approx. 2,820 SF on a 5,000 SF lot
- Unit mix: two 1‑bedroom units and two 2‑bedroom units
- Each unit has its own laundry room with hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,281
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$965,620
$965.6K
Cap Rate 7%
$689,729
$689.7K
Cap Rate 9%
$536,456
$536.5K
Market Conditions
NOI Build-Up for 2,820 SF
Gross rent
$72.8K $25.80/SF
− Vacancy
−$3.8K −$1.34/SF
EGI
$69.0K $24.46/SF
− OpEx
−$20.7K −$7.34/SF
NOI
$48.3K $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 Rate 5%
$965,620
Cap Rate 7%
$689,729
Cap Rate 9%
$536,456
Alternative Uses
Best Use
Multifamily LT 5
$689.7K
$603.5K – $804.7K
NOI $48,281 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$640.4K
$560.4K – $747.1K
NOI $44,828 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$1.07M
$932.7K – $1.24M
NOI $74,617 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Drive-in doors
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
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Business Placement
Demographics for 94706, CA
21,134
Population
8,386
Households
2.5
Avg Household Size
37
Median Age
77%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
14,089
Density / Sq Mi
$136,961
Median Household Income
$75,849
Median Earnings
$2,394
Median Rent
$1,188,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with two one-bedroom and two two-bedroom units, each with laundry hookups and dedicated driveway parking.
Where is this quadplex located?
The property is located at 764 Pierce St Albany, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Fourplex built in 1950 with approx. 2,820 SF on a 5,000 SF lot; Unit mix: two 1‑bedroom units and two 2‑bedroom units; Each unit has its own laundry room with hookups
