Mountain Duplex with Flexible
For Sale
$450,000
40159 Esterly, Big Bear Lake, CA 92315
Big Bear Lake, CA
Property Size1,452 SF
Lot Size0.11 Acres
Price / SF$309.92
Days on Market122
Property Features for 40159 Esterly
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Living Room, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Laundry Room
Parking
2
Parking features
Garage, Gated
Interior features
Balcony, Furnished
Fencing
Chain Link
Fireplace
1
Appliances
Gas Cooktop, Gas Range
Lot features
0-1 Unit/ Acre
Elementary school district
Bear Valley Unified
Middle school district
Bear Valley Unified
High school district
Bear Valley Unified
Directions
From The Village -> West on Big
Subdivision
289 - Big Bear Area
Standard status
Active
APN
0308057830000
Size
1,452 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Amenities
jetted tub
fireplace
sun deck
patio
private backyard
tankless water heater
central forced air heating
Building Details
Year built
1936
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
KELLER WILLIAMS BIG BEAR · Keller Williams Realty
(909) 866-4949
Listed By:
Evan Fellman · License #02140840
(909) 831-6279
Added: May 1
Changed: Aug 25
Last Checked: Aug 30 at 9:06PM
MLS# IG26094031
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 Duplexes property in Big Bear Lake provides approximately 1,452 square feet of living space within a flexible two-level configuration. Separate living areas, each with a fireplace, allow the residence to operate as one connected home or as distinct spaces. Each level includes a kitchen or kitchenette, while multiple bedrooms are positioned on the main level. Additional features include a jetted tub, central forced-air heating, a tankless water heater, public water, and public sewer.
Outdoor areas include an upper sun deck, lower patio, and fenced backyard with mature trees. The property also includes an attached two-car garage approximately 30 feet deep with 11-foot ceilings, along with a large driveway. The home is near the Big Bear Lake Village, the lake, dining, the Alpine Slide, and Bear Mountain Ski Resorts.
Outdoor areas include an upper sun deck, lower patio, and fenced backyard with mature trees. The property also includes an attached two-car garage approximately 30 feet deep with 11-foot ceilings, along with a large driveway. The home is near the Big Bear Lake Village, the lake, dining, the Alpine Slide, and Bear Mountain Ski Resorts.
Key Highlights
- Approximately 1,452 square feet of living space
- Two separate living areas, each with a fireplace
- Kitchen or kitchenette provided on each level
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
$14,807
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
3.29%
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%
$296,140
$296.1K
Cap Rate 7%
$211,529
$211.5K
Cap Rate 9%
$164,522
$164.5K
Market Conditions
NOI Build-Up for 1,452 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
$22.5K $15.48/SF
− Vacancy
−$1.3K −$0.91/SF
EGI
$21.2K $14.57/SF
− OpEx
−$6.3K −$4.37/SF
NOI
$14.8K $10.20/SF
Area
San Bernardino County, CA
Vacancy
5.89%
Lease Rate
$15.48 /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%
$296,140
Cap Rate 7%
$211,529
Cap Rate 9%
$164,522
Alternative Uses
Best Use
Multifamily LT 5
$211.5K
$185.1K – $246.8K
NOI $14,807 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$183.6K
$160.7K – $214.2K
NOI $12,854 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$306.3K
$268.0K – $357.3K
NOI $21,439 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 92315, CA
5,148
Population
9,861
Households
0.5
Avg Household Size
51
Median Age
34%
College-Educated
92%
High-School Grad
29.4 sq mi
ZIP Area
175
Density / Sq Mi
$79,293
Median Household Income
$43,778
Median Earnings
$1,278
Median Rent
$538,200
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?
Duplex - Two-level configuration offers separate living areas and kitchen facilities for adaptable occupancy and guest use.
Where is this duplex located?
The property is located at 40159 Esterly Big Bear Lake, CA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Approximately 1,452 square feet of living space; Two separate living areas, each with a fireplace; Kitchen or kitchenette provided on each level
