Tenant-Occupied Triplex For
For Sale
$399,900
9704 Velma Ave, Lamont, CA 93241
Single-APN triplex with three tenant-occupied units on a month-to-month basis.
Property Size1,432 SF
Price / SF$279.26
Days on Market113
Property Features for 9704 Velma Ave
General Information
Standard status
Active
Size
1,432 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Listing Agency:
Keller Williams Realty
(661) 617-6500
Listed By:
Harjeet Singh · License #02227532
(818) 299-7299
Source:
Exprealty
Added: May 20
Changed: Sep 8
Last Checked: Sep 8 at 8:21AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This triplex for sale consists of three units under a single APN. The property is currently tenant-occupied on a month-to-month arrangement, providing immediate rental income potential for a new owner. Drive by only; please do not disturb the tenants.
The property is located at 9704 Velma Ave in Lamont, California.
The listing is specifically for 9704 Velma Ave and features three units within one combined parcel.
The property is located at 9704 Velma Ave in Lamont, California.
The listing is specifically for 9704 Velma Ave and features three units within one combined parcel.
Key Highlights
- 1951‑built 3‑unit triplex
- Three units on a single APN (9704 Velma Ave)
- Tenant‑occupied with month‑to‑month tenancies
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
$17,874
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
4.47%
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%
$357,480
$357.5K
Cap Rate 7%
$255,343
$255.3K
Cap Rate 9%
$198,600
$198.6K
Market Conditions
NOI Build-Up for 1,432 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
$26.3K $18.36/SF
− Vacancy
−$757 −$0.53/SF
EGI
$25.5K $17.83/SF
− OpEx
−$7.7K −$5.35/SF
NOI
$17.9K $12.48/SF
Area
Kern County, CA
Vacancy
2.88%
Lease Rate
$18.36 /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%
$357,480
Cap Rate 7%
$255,343
Cap Rate 9%
$198,600
Alternative Uses
Best Use
Multifamily LT 5
$255.3K
$223.4K – $297.9K
NOI $17,874 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$235.7K
$206.2K – $275.0K
NOI $16,497 @ 7.0% cap · market cap 4.13%
Theoretical Best
Warehouse
$305.9K
$267.7K – $356.9K
NOI $21,414 @ 7.0% cap · market cap 5.35%
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
460
Businesses Nearby
Explore this area
Business Placement
Demographics for 93241, CA
15,707
Population
4,698
Households
3.3
Avg Household Size
28
Median Age
4%
College-Educated
39%
High-School Grad
5.0 sq mi
ZIP Area
3,141
Density / Sq Mi
$31,563
Median Household Income
$20,781
Median Earnings
$946
Median Rent
$199,400
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 - Single-APN triplex with three tenant-occupied units on a month-to-month basis.
Where is this triplex located?
The property is located at 9704 Velma Ave Lamont, CA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1951‑built 3‑unit triplex; Three units on a single APN (9704 Velma Ave); Tenant‑occupied with month‑to‑month tenancies
