Updated Residential Income Property with
For Sale
$185,000
186 N Center, Redlands, CA 92373
Redlands, CA
Property Size915 SF
Lot Size0.02 Acres
Price / SF$202.19
Days on Market38
Property Features for 186 N Center
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Kitchen, Laundry Room, Bedroom 2, Bedroom 1
Parking
1
Parking features
Carport
Window features
Double Pane Windows
Patio and Porch features
Deck
Interior features
Built-in Features, High Ceilings, Ceiling Fan(s), Open Floorplan
Appliances
Water Heater, Refrigerator, Range Hood, Gas Range, Dishwasher
Lot features
Patio Home
View
Hills
Elementary school district
Redlands Unified
Middle school district
Redlands Unified
High school district
Redlands Unified
Directions
On Center Place, between Center Street and W. State Street.
Subdivision
268 - Redlands
Standard status
Active
APN
0171393024037
Size
915 SF
Lot size
0.02 Acres
Taxes and HOA fees
HOA Fee
$758 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
community pool
community garden
community laundry facilities
private deck
central heating and air conditioning
Building Details
Year built
1956
Floors in Building
1
Number of units
1
Flooring type
Wood, Vinyl
Roof type
Composition
Listing Agency:
RE/MAX ADVANTAGE · RE/MAX International
(909) 797-4133
Listed By:
BRANDON MIHLD · License #01968068
(909) 709-9841
Added: Jul 24
Changed: Aug 26
Last Checked: Aug 30 at 2:06PM
MLS# IG26161633
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 upstairs owner-occupant co-op offers 915 square feet with two bedrooms and one full bathroom. The interior includes an open living and dining arrangement, vaulted ceilings, hardwood and vinyl flooring, dual-pane windows, and central heating and air conditioning. The renovated kitchen features updated cabinetry, countertops, a gas range, dishwasher, refrigerator, and range hood. A refreshed bathroom includes a tub-and-shower combination, while sliding glass doors open to a private deck overlooking the community grounds.
The Braemar Community provides shared laundry facilities, a pool, community garden, landscaping, exterior maintenance, and public water and sewer service. The property also includes a carport. Built in 1956, the residence is located at 186 N Center in Redlands, near Downtown Redlands, the University of Redlands, local restaurants, shopping, entertainment, and freeway access. The community is restricted to owner occupants and is not available for investment or rental use; cash offers only.
The Braemar Community provides shared laundry facilities, a pool, community garden, landscaping, exterior maintenance, and public water and sewer service. The property also includes a carport. Built in 1956, the residence is located at 186 N Center in Redlands, near Downtown Redlands, the University of Redlands, local restaurants, shopping, entertainment, and freeway access. The community is restricted to owner occupants and is not available for investment or rental use; cash offers only.
Key Highlights
- 915 SF upstairs co‑op with 2 bedrooms and 1 full bathroom
- Private deck overlooking maintained community grounds
- Updated kitchen with gas range, dishwasher, refrigerator, and range hood
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
$8,100
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
4.38%
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%
$162,000
$162.0K
Cap Rate 7%
$115,714
$115.7K
Cap Rate 9%
$90,000
$90.0K
Market Conditions
NOI Build-Up for 915 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
$15.7K $17.16/SF
− Vacancy
−$973 −$1.06/SF
EGI
$14.7K $16.10/SF
− OpEx
−$6.6K −$7.24/SF
NOI
$8.1K $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%
$162,000
Cap Rate 7%
$115,714
Cap Rate 9%
$90,000
Alternative Uses
Best Use
Apartment 5plus
$115.7K
$101.3K – $135.0K
NOI $8,100 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$193.0K
$168.9K – $225.2K
NOI $13,510 @ 7.0% cap · market cap 7.30%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Owner-occupied co-op unit with updated finishes, vaulted ceilings, central HVAC, and access to shared community amenities.
Where is this residential income property located?
The property is located at 186 N Center Redlands, CA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 915 SF upstairs co‑op with 2 bedrooms and 1 full bathroom; Private deck overlooking maintained community grounds; Updated kitchen with gas range, dishwasher, refrigerator, and range hood
