Renovated Triplex with Vacant
For Sale
$799,999
917 9th St, Turlock, CA 95380
Three-unit property with updated interiors, two occupied residences, and a detached accessory dwelling unit delivered vacant.
Property Size2,260 SF
Price / SF$353.98
Days on Market17
Property Features for 917 9th St
General Information
Standard status
Active
Size
2,260 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 4BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1950
Listing Agency:
Adroit Real Estate
(209) 585-6349
Listed By:
Sonny D Uppal · License #02108475
Source:
Thedelrealgroup
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 29 at 11:43AM
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 Adroit Real Estate
Investment Insights
Based on property information with market context.
Located at 917 9th Street in Turlock, this 2,260-square-foot triplex was built in 1950 and has undergone recent renovations. The configuration includes a front residence with three bedrooms and two bathrooms, a second residence with four bedrooms and one bathroom, and a detached one-bedroom, one-bath accessory dwelling unit.
The two primary units are currently occupied and producing rental income, while the ADU is vacant at delivery. The property sits on more than half an acre and includes additional land beyond the existing residential improvements. Its three-unit layout, detached ADU, and recent updates provide a clearly defined multifamily configuration for an owner-user or investor.
The two primary units are currently occupied and producing rental income, while the ADU is vacant at delivery. The property sits on more than half an acre and includes additional land beyond the existing residential improvements. Its three-unit layout, detached ADU, and recent updates provide a clearly defined multifamily configuration for an owner-user or investor.
Key Highlights
- Three‑unit multifamily property on more than half an acre
- 2,260‑square‑foot property built in 1950
- Front unit offers 3 bedrooms and 2 bathrooms
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
$30,578
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
3.82%
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%
$611,560
$611.6K
Cap Rate 7%
$436,829
$436.8K
Cap Rate 9%
$339,756
$339.8K
Market Conditions
NOI Build-Up for 2,260 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
$44.7K $19.80/SF
− Vacancy
−$1.1K −$0.47/SF
EGI
$43.7K $19.33/SF
− OpEx
−$13.1K −$5.80/SF
NOI
$30.6K $13.53/SF
Area
Stanislaus County, CA
Vacancy
2.38%
Lease Rate
$19.80 /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%
$611,560
Cap Rate 7%
$436,829
Cap Rate 9%
$339,756
Alternative Uses
Best Use
Multifamily LT 5
$436.8K
$382.2K – $509.6K
NOI $30,578 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$403.1K
$352.7K – $470.2K
NOI $28,214 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$1.05M
$919.1K – $1.23M
NOI $73,530 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 95380, CA
42,912
Population
15,682
Households
2.7
Avg Household Size
34
Median Age
18%
College-Educated
73%
High-School Grad
77.2 sq mi
ZIP Area
556
Density / Sq Mi
$68,308
Median Household Income
$39,002
Median Earnings
$1,348
Median Rent
$410,300
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-unit property with updated interiors, two occupied residences, and a detached accessory dwelling unit delivered vacant.
Where is this triplex located?
The property is located at 917 9th St Turlock, CA.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Three‑unit multifamily property on more than half an acre; 2,260‑square‑foot property built in 1950; Front unit offers 3 bedrooms and 2 bathrooms
