Detached-Home
New
For Sale
$1,520,000
9089 9091 Watson Street, Cypress, CA 90630
Three separate residences offer private living space, individual utility meters, and in-unit laundry throughout.
Property Size2,581 SF
Days on Market5
Property Features for 9089 9091 Watson Street
General Information
Standard status
Active
Size
2,581 SF
Total Parking Spaces
6
Property subtype
Triplex
Units
Unit Mix
2 x 2BR/1BA, 1 x 2BR/1.5BA
Multifamily Units
3
Parking per Unit
2
Additional Details
Utilities to Site
Yes
Amenities
in-unit laundry
private backyard
Building Details
Building Size
2,581 SF
Year Built
1959
Buildings
3
Stories
1
Listing Agency:
Marcus & Millichap RE Invest
Listed By:
Christian Tait · License #02111248
(949) 419-3282
Source:
Altamirarealty
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 2:51PM
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 Marcus & Millichap RE Invest
Investment Insights
Based on property information with market context.
This three-unit multifamily property is arranged as separate, single-story homes rather than attached residences. Two 2-bedroom, 1-bathroom homes were renovated in 2018 and have private backyards. A detached ADU, completed in 2023, adds a 2-bedroom, 1.5-bathroom residence with newer interior finishes. The property dates to 1959; kitchens and bathrooms have been updated, with cabinetry and flooring varying among the residences.
Each home includes in-unit laundry and an individual water heater, and utilities are separately metered. Six surface parking spaces provide two spaces for each residence. The property is in Cypress, within Orange County.
Each home includes in-unit laundry and an individual water heater, and utilities are separately metered. Six surface parking spaces provide two spaces for each residence. The property is in Cypress, within Orange County.
Key Highlights
- Three freestanding, single‑story residences; no shared walls
- Unit mix: two 2‑bedroom/1‑bathroom homes and one 2‑bedroom/1.5‑bathroom ADU
- Detached ADU constructed in 2023; two original residences renovated in 2018
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
$54,441
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
3.58%
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%
$1,088,820
$1.1M
Cap Rate 7%
$777,729
$777.7K
Cap Rate 9%
$604,900
$604.9K
Market Conditions
NOI Build-Up for 2,581 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
$80.5K $31.20/SF
− Vacancy
−$2.8K −$1.07/SF
EGI
$77.8K $30.13/SF
− OpEx
−$23.3K −$9.04/SF
NOI
$54.4K $21.09/SF
Area
Orange County, CA
Vacancy
3.42%
Lease Rate
$31.20 /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%
$1,088,820
Cap Rate 7%
$777,729
Cap Rate 9%
$604,900
Alternative Uses
Best Use
Multifamily LT 5
$777.7K
$680.5K – $907.4K
NOI $54,441 @ 7.0% cap · market cap 3.58%
Second Best
Apartment 5plus
$703.8K
$615.8K – $821.1K
NOI $49,264 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$866.9K
$758.5K – $1.01M
NOI $60,683 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 90630, CA
49,965
Population
16,544
Households
3
Avg Household Size
41
Median Age
49%
College-Educated
91%
High-School Grad
6.2 sq mi
ZIP Area
8,059
Density / Sq Mi
$124,360
Median Household Income
$59,244
Median Earnings
$2,452
Median Rent
$866,400
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?
Triplex - Three separate residences offer private living space, individual utility meters, and in-unit laundry throughout.
Where is this triplex located?
The property is located at 9089 9091 Watson Street Cypress, CA.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: Three freestanding, single‑story residences; no shared walls; Unit mix: two 2‑bedroom/1‑bathroom homes and one 2‑bedroom/1.5‑bathroom ADU; Detached ADU constructed in 2023; two original residences renovated in 2018
