Fourplex Residential Income
For Sale
$1,199,800
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$425.46
Days on Market64
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 11
Changed: Sep 11
Last Checked: Sep 12 at 11:13AM
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
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 = 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
$94,654
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
7.89%
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%
$1,893,080
$1.9M
Cap Rate 7%
$1,352,200
$1.4M
Cap Rate 9%
$1,051,711
$1.1M
Market Conditions
NOI Build-Up for 2,820 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
$143.8K $51.00/SF
− Vacancy
−$8.6K −$3.05/SF
EGI
$135.2K $47.95/SF
− OpEx
−$40.6K −$14.39/SF
NOI
$94.7K $33.57/SF
Area
Alameda County, CA
Vacancy
5.98%
Lease Rate
$51.00 /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%
$1,893,080
Cap Rate 7%
$1,352,200
Cap Rate 9%
$1,051,711
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,654 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$583.6K
$510.6K – $680.9K
NOI $40,851 @ 7.0% cap · market cap 3.40%
Theoretical Best
Retail
$12.86M
$11.25M – $15.00M
NOI $899,937 @ 7.0% cap · market cap 75.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
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 $1,199,800.
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
