Renovated
For Sale
$704,888
9525 Kelley Drive, Stockton, CA 95209
Three occupied units provide in-place rental income from an established multifamily property.
Property Size2,945 SF
Price / SF$239.35
Days on Market12
Property Features for 9525 Kelley Drive
General Information
Standard status
Active
Size
2,945 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1980
Listing Agency:
Re/Max Gold Copperopolis
(209) 753-0410
Listed By:
Inspired Real Estate Group Inc
(916) 622-5341
Source:
Inspiredrealestategroup
Added: Sep 13
Changed: Sep 24
Last Checked: Sep 24 at 9:56AM
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 Gold Copperopolis
Investment Insights
Based on property information with market context.
This triplex at 9525 Kelley Drive in Stockton, California, contains three units totaling 2945 square feet. All units are currently occupied and generating rental income, providing an established operating profile for the property. The building was constructed in 1980 and has been recently renovated, with the source information describing it as being in good condition. The three-unit configuration creates a straightforward multifamily asset with income-producing occupancy in place.
Key Highlights
- Three‑unit triplex configuration
- All three units currently occupied
- 2945 square feet of building area
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
$43,843
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
6.22%
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%
$876,860
$876.9K
Cap Rate 7%
$626,329
$626.3K
Cap Rate 9%
$487,144
$487.1K
Market Conditions
NOI Build-Up for 2,945 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
$65.4K $22.20/SF
− Vacancy
−$2.7K −$0.93/SF
EGI
$62.6K $21.27/SF
− OpEx
−$18.8K −$6.38/SF
NOI
$43.8K $14.89/SF
Area
ZIP 95209
Vacancy
4.20%
Lease Rate
$22.20 /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%
$876,860
Cap Rate 7%
$626,329
Cap Rate 9%
$487,144
Alternative Uses
Best Use
Multifamily LT 5
$626.3K
$548.0K – $730.7K
NOI $43,843 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$561.0K
$490.8K – $654.5K
NOI $39,267 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$636.1K
$556.6K – $742.1K
NOI $44,528 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 95209, CA
44,660
Population
13,923
Households
3.2
Avg Household Size
37
Median Age
25%
College-Educated
87%
High-School Grad
8.2 sq mi
ZIP Area
5,446
Density / Sq Mi
$106,056
Median Household Income
$47,456
Median Earnings
$1,813
Median Rent
$464,900
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied units provide in-place rental income from an established multifamily property.
Where is this triplex located?
The property is located at 9525 Kelley Drive Stockton, CA.
What is the asking price?
The asking price for this property is $704,888.
What are key features of this property?
This property features: Three‑unit triplex configuration; All three units currently occupied; 2945 square feet of building area
