Updated Quadplex with Private
For Sale
$2,398,000
Pending
863 Palomino Dr, Pleasanton, CA 94566
MULTI_FAMILY - Pleasanton, CA
Property Size4,060 SF
Lot Size0.22 Acres
Days on Market97
Property Features for 863 Palomino Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 4, Bedroom 6, Bedroom 5, Laundry Room, Bedroom 2, Bathroom 2, Bathroom 8, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 5, Bathroom 6, Bathroom 1, Bedroom 8, Bathroom 7, Bedroom 7
Parking features
Carport, Off Street, Parking Lot, Covered
Interior features
Updated Baths, Updated Kitchen
Exterior features
Back Yard
Fencing
Fenced
Appliances
Dishwasher
Subdivision
Vintage Hills
Lot features
Level, Premium Lot, Rectangular Lot
Directions
Bernal Ave > Palomino Drive..
Standard status
Pending
APN
946254812
Size
4,060 SF
Lot size
0.22 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Ceiling Fan(s), Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
private backyards
paver patios
balcony
laundry room
Building Details
Year built
1967
Number of units
4
Flooring type
Laminate, Hardwood, Tile, Engineered
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Investment Real Estate
(925) 963-0569
Listed By:
Mike Carey · License #01055545
(925) 963-0569
Added: May 8
Changed: Aug 2
Last Checked: Aug 12 at 12:06PM
MLS# 41134061
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 updated quadplex in Pleasanton offers four interior units in a residential income property configuration, with each unit featuring two bedrooms, 1.5 baths, and approximately 1,000 square feet of living space. Each unit also includes a private backyard and designated carport space, supporting practical day-to-day livability. Interior updates include remodeled kitchens and bathrooms, wood flooring and laminate/tile/engineered flooring, updated fixtures, and interior paint.
Recent building upgrades include a new roof in 2022, new paver driveway in 2022, new paver patios for all units, new exterior paint in 2022, and new electrical panels in 2023. A new balcony was added for Unit D. Laundry options are split across the building: two units include a washer/dryer combo within the unit, while the other two share a laundry room. Tenants are responsible for PG&E, garbage, and cable/internet.
The property sits on a 0.2202-acre lot, with construction materials including wood siding and a composition roof. The home is served by public water and public sewer, with wall furnace heating and ceiling fan plus window or wall/window unit cooling. Parking is provided via carport and covered off-street spaces.
Recent building upgrades include a new roof in 2022, new paver driveway in 2022, new paver patios for all units, new exterior paint in 2022, and new electrical panels in 2023. A new balcony was added for Unit D. Laundry options are split across the building: two units include a washer/dryer combo within the unit, while the other two share a laundry room. Tenants are responsible for PG&E, garbage, and cable/internet.
The property sits on a 0.2202-acre lot, with construction materials including wood siding and a composition roof. The home is served by public water and public sewer, with wall furnace heating and ceiling fan plus window or wall/window unit cooling. Parking is provided via carport and covered off-street spaces.
Key Highlights
- Four updated quadplex units, each with two bedrooms and 1.5 baths and approximately 1,000 square feet
- Private backyards and designated carport spaces for every unit
- New roof in 2022, new paver driveway and new exterior paint in 2022
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
$136,274
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
5.68%
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%
$2,725,480
$2.7M
Cap Rate 7%
$1,946,771
$1.9M
Cap Rate 9%
$1,514,156
$1.5M
Market Conditions
NOI Build-Up for 4,060 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
$207.1K $51.00/SF
− Vacancy
−$12.4K −$3.05/SF
EGI
$194.7K $47.95/SF
− OpEx
−$58.4K −$14.39/SF
NOI
$136.3K $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%
$2,725,480
Cap Rate 7%
$1,946,771
Cap Rate 9%
$1,514,156
Alternative Uses
Best Use
Multifamily LT 5
$1.95M
$1.70M – $2.27M
NOI $136,274 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$840.2K
$735.2K – $980.2K
NOI $58,813 @ 7.0% cap · market cap 2.45%
Theoretical Best
Retail
$18.51M
$16.20M – $21.59M
NOI $1,295,654 @ 7.0% cap · market cap 54.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 94566, CA
45,055
Population
16,698
Households
2.7
Avg Household Size
43
Median Age
67%
College-Educated
95%
High-School Grad
20.3 sq mi
ZIP Area
2,219
Density / Sq Mi
$187,721
Median Household Income
$104,642
Median Earnings
$2,639
Median Rent
$1,592,200
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 - Updated 4-unit quadplex with private backyards, carport spaces, in-unit and shared laundry, and recent exterior and electrical upgrades.
Where is this quadplex located?
The property is located at 863 Palomino Dr Pleasanton, CA.
What is the asking price?
The asking price for this property is $2,398,000.
What are key features of this property?
This property features: Four updated quadplex units, each with two bedrooms and 1.5 baths and approximately 1,000 square feet; Private backyards and designated carport spaces for every unit; New roof in 2022, new paver driveway and new exterior paint in 2022
