Duplex with Updated
For Sale
$239,900
Pending
241 S Richmond Rd, Ridgecrest, CA 93555
Multi Family, Ridgecrest, CA
Property Size1,560 SF
Lot Size0.14 Acres
Days on Market47
Property Features for 241 S Richmond Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Interior features
Flooring- Laminate, Flooring- Carpet, Flooring- Vinyl Plank
Appliances
Water Heater- Nat. Gas, Dishwasher, Oven/Range, Refrigerator, W/D Hookups
Directions
South on China Lake Blvd. East on Ridgecrest Blvd. South on Richmond Rd. 241 is on the corner of S Richmond Rd and E Church Ave
Subdivision
South East
Standard status
Pending
APN
343-042-29
Size
1,560 SF
Lot size
0.14 Acres
Utilities
Cooling system
Evaporative Cooling
Amenities
washer/dryer hookups
ceiling fans
backyard
Building Details
Year built
1982
Number of units
2
Roof type
Shingle
Listing Agency:
Elite Properties
(760) 446-4300
Listed By:
Mary Furnish · License #01988230
(760) 977-9281
Added: Jul 29
Changed: Sep 13
Last Checked: Sep 13 at 10:06PM
MLS# 2608740
Copyright © 2026 Southern Sierra MLS. 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 1,560-square-foot duplex, built in 1982, contains two residences on a 0.14-acre lot and carries Duplex zoning. Unit A includes laminate flooring in the living room, tile in the kitchen and bathroom, carpeted bedrooms, a kitchen with a stove, dishwasher, and refrigerator, plus a small backyard. Unit B received interior updates last year, including luxury vinyl plank flooring, new paint, kitchen cabinetry, countertops, stainless steel appliances, and a refreshed bathroom with a new vanity and tub/shower surround. Ceiling fans serve the bedrooms in Unit B, which also has a larger backyard.
Both units provide washer/dryer hookups and a one-car garage. The property uses evaporative cooling, has a shingle roof, and is positioned near the back gate of Naval Air Weapons Station China Lake in Ridgecrest.
Both units provide washer/dryer hookups and a one-car garage. The property uses evaporative cooling, has a shingle roof, and is positioned near the back gate of Naval Air Weapons Station China Lake in Ridgecrest.
Key Highlights
- 1,560‑square‑foot duplex on a 0.14‑acre lot
- Duplex zoning with two residential units
- Unit B updated last year with new cabinetry, countertops, appliances, paint, and bathroom finishes
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
$19,472
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
8.12%
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%
$389,440
$389.4K
Cap Rate 7%
$278,171
$278.2K
Cap Rate 9%
$216,356
$216.4K
Market Conditions
NOI Build-Up for 1,560 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
$28.6K $18.36/SF
− Vacancy
−$825 −$0.53/SF
EGI
$27.8K $17.83/SF
− OpEx
−$8.3K −$5.35/SF
NOI
$19.5K $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%
$389,440
Cap Rate 7%
$278,171
Cap Rate 9%
$216,356
Alternative Uses
Best Use
Multifamily LT 5
$278.2K
$243.4K – $324.5K
NOI $19,472 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$256.7K
$224.6K – $299.5K
NOI $17,971 @ 7.0% cap · market cap 7.49%
Theoretical Best
Warehouse
$333.3K
$291.6K – $388.8K
NOI $23,328 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 93555, CA
32,810
Population
14,401
Households
2.3
Avg Household Size
37
Median Age
31%
College-Educated
91%
High-School Grad
78.1 sq mi
ZIP Area
420
Density / Sq Mi
$84,141
Median Household Income
$50,198
Median Earnings
$1,180
Median Rent
$235,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed interiors, private outdoor areas, laundry hookups, and a one-car garage for each residence.
Where is this duplex located?
The property is located at 241 S Richmond Rd Ridgecrest, CA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 1,560‑square‑foot duplex on a 0.14‑acre lot; Duplex zoning with two residential units; Unit B updated last year with new cabinetry, countertops, appliances, paint, and bathroom finishes
