Updated One-Bedroom Residential Income
For Sale
$155,000
163 N Center Street, Redlands, CA 92373
Redlands, CA
Property Size700 SF
Lot Size0.02 Acres
Price / SF$221.43
Days on Market375
Property Features for 163 N Center Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Kitchen, Laundry Room, Bedroom 1
Parking
1
Parking features
Carport, Assigned
Window features
Double Pane Windows
Interior features
Quartz Counters, Unfurnished, Ceiling Fan(s), Open Floorplan, Storage
Appliances
Microwave, Refrigerator, Water Purifier, Gas Range, Gas Oven
Lot features
Near Public Transit, Park Nearby
View
Park
Elementary school district
Redlands Unified
Middle school district
Redlands Unified
High school district
Redlands Unified
Directions
On Center South of Redlands Blvd North of Brookside
Subdivision
268 - Redlands
Standard status
Active
APN
0171393024027
Size
700 SF
Lot size
0.02 Acres
Taxes and HOA fees
HOA Fee
$726 Monthly
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
remodeled kitchen
laminate wood flooring
new dual-pane windows
updated bathroom
oversized windows
Building Details
Year built
1956
Floors in Building
1
Number of units
1
Flooring type
Laminate
Additional Structures
Storage
Listing Agency:
Keller Williams Pacific Estate · Keller Williams Realty
(562) 513-7800
Listed By:
Susan Wyant · License #01880319
(562) 716-6633
Added: Aug 27, 2025
Changed: Sep 5
Last Checked: Sep 5 at 8:06PM
MLS# PW25193798
Copyright © 2026 California Regional Multiple Listing Service, Inc. 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 700-square-foot residential income property is a one-bedroom, one-bath unit in the Braemar Co-Op community. The interior includes an open floor plan, laminate flooring, quartz counters, storage, ceiling fan, and a remodeled kitchen equipped with a gas range, gas oven, microwave, refrigerator, and water purifier. The bathroom has also been updated, while dual-pane windows and several oversized windows bring natural light into the home. Heating is provided by a wall furnace, with wall or window unit cooling.
Built in 1956, the unit has one assigned carport space and views toward greenbelts and nearby park areas. The property is located near downtown Redlands, with shopping, dining, public transportation, freeway access, and the Metro within minutes. Public water and public sewer serve the property, and cable is available.
Built in 1956, the unit has one assigned carport space and views toward greenbelts and nearby park areas. The property is located near downtown Redlands, with shopping, dining, public transportation, freeway access, and the Metro within minutes. Public water and public sewer serve the property, and cable is available.
Key Highlights
- 700‑square‑foot one‑bedroom, one‑bath unit
- Braemar Co‑Op community near downtown Redlands
- Remodeled kitchen with quartz counters and gas range
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
$6,197
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
4.00%
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%
$123,940
$123.9K
Cap Rate 7%
$88,529
$88.5K
Cap Rate 9%
$68,856
$68.9K
Market Conditions
NOI Build-Up for 700 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
$12.0K $17.16/SF
− Vacancy
−$745 −$1.06/SF
EGI
$11.3K $16.10/SF
− OpEx
−$5.1K −$7.24/SF
NOI
$6.2K $8.85/SF
Area
San Bernardino County, CA
Vacancy
6.20%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
45.00%
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%
$123,940
Cap Rate 7%
$88,529
Cap Rate 9%
$68,856
Alternative Uses
Best Use
Apartment 5plus
$88.5K
$77.5K – $103.3K
NOI $6,197 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$147.7K
$129.2K – $172.3K
NOI $10,336 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,489
Businesses Nearby
Explore this area
Business Placement
Demographics for 92373, CA
35,348
Population
14,501
Households
2.4
Avg Household Size
41
Median Age
53%
College-Educated
94%
High-School Grad
39.8 sq mi
ZIP Area
888
Density / Sq Mi
$99,354
Median Household Income
$64,533
Median Earnings
$1,886
Median Rent
$713,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright co-op unit with renovated interiors, assigned parking, and convenient access to downtown Redlands.
Where is this residential income property located?
The property is located at 163 N Center Street Redlands, CA.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: 700‑square‑foot one‑bedroom, one‑bath unit; Braemar Co‑Op community near downtown Redlands; Remodeled kitchen with quartz counters and gas range
