Four-Unit Property with
For Sale
$1,199,800
764 Pierce St, Albany, CA 94706
Residential Income, Albany, CA
Property Size2,820 SF
Lot Size0.11 Acres
Price / SF$425.46
Days on Market52
Property Features for 764 Pierce St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 2, Bathroom 5, Bathroom 1, Bathroom 6, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 2, Bathroom 7, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 5
Interior features
Storage
Exterior features
Side Yard
Fencing
Fenced
Subdivision
Albany
Lot features
Corner Lot, Back Yard
Directions
580 exit Buchanan to Pierce St
Standard status
Active
APN
6627327
Size
2,820 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
in-unit laundry
shared backyard
Building Details
Year built
1950
Number of units
4
Flooring type
Carpet, Hardwood, Linoleum, Vinyl, Carpet - Partial, Tile
Building materials
Stucco
Roof type
Tar/Gravel
Additional Structures
Storage
Listing Agency:
RE/MAX Accord · RE/MAX International
(925) 847-8900
Listed By:
Nancy Sutorius · License #628232
(925) 367-7414
Added: Jul 23
Changed: Sep 12
Last Checked: Sep 12 at 4:06PM
MLS# 41141277
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains approximately 2,820 square feet on a 0.1148-acre lot. The unit mix includes two one-bedroom residences and two two-bedroom residences. Each unit has its own laundry room with washer and dryer hookups, while driveway parking provides one space for each tenant.
The property also includes a two-car garage, a large basement not used by tenants, and two recently installed garage doors. A shared backyard offers both paved and grass areas, with side-yard access and fencing. The 1950 building has stucco construction, public water and sewer service, wall furnace heating, and a tar-and-gravel roof. Freeway access is nearby, and a bus line runs along the property’s corridor in Albany.
The property also includes a two-car garage, a large basement not used by tenants, and two recently installed garage doors. A shared backyard offers both paved and grass areas, with side-yard access and fencing. The 1950 building has stucco construction, public water and sewer service, wall furnace heating, and a tar-and-gravel roof. Freeway access is nearby, and a bus line runs along the property’s corridor in Albany.
Key Highlights
- Approximately 2,820 square feet on a 0.1148‑acre lot
- Unit mix includes two one‑bedroom and two two‑bedroom residences
- Individual laundry rooms with washer and dryer hookups in every unit
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
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Current Use
Lease Details
4
Residential units
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily property with private laundry hookups, driveway parking, and shared outdoor space.
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: Approximately 2,820 square feet on a 0.1148‑acre lot; Unit mix includes two one‑bedroom and two two‑bedroom residences; Individual laundry rooms with washer and dryer hookups in every unit
