Perris Multifamily Property with Development
4439 Wade Avenue, Perris, CA 92571
Townhouse - Perris, CA
Type:Townhouse
Property size:
5,895 SFLot size:
47,044.80 AcresPrice / SF:
$212/SF- Added:
- Jan 20, 2025
- Days on Market:
- 481
- Last Refresh:
- May 16 at 8:06 pm
Property Features for 4439 Wade Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Townhouse
- Zoning
- CPS
- Bedrooms
- 19
- Bathrooms
- 8
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Exterior features
- Community Features Included: Urban, Level
- Standard status
- Active
- APN
- 314110031
- Size
- 5,895 SF
- Lot size
- 47,044.80 Acres
Utilities
- Heating system
- Floor Furnace, Wall Furnace
- Cooling system
- Evaporative Cooling, Whole House Fan
Building Details
- Year built
- 1910
- Floors in Building
- 1
- Number of units
- 5
- Architectural style
- Other
Listing agent Jonathan Minerick License #01523060 (888) 400-2513
Listing office Homecoin.com 600 B St.Ste.300, San Diego, CA (888) 400-2513
Listing date Jan 20, 2025
MLS# TR25008308
Listing URL
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.
HighLights
- 1.1 acre light‑industrial zoned parcel with income potential from 5 existing units.
- Diverse unit mix includes a variety of unit sizes, from 2‑bedroom to 6‑bedroom configurations.
- Ample parking: Features 7 marked stalls plus space for 10+ additional vehicles.
- Recreational amenities: Includes a pool, pool house, and dedicated firepit.
- Unique Unit #5: Two‑story unit with 6 bedrooms, 2 bathrooms, and a fireplace.
- Bucolic setting: Features a variety of trees (Cedar, Birch, Eucalyptus, Loganberry) and decorative sidewalks.
Overview
This 1.1-acre property in a rural setting features five existing units, a pool, a pool house, and a storage unit. The grounds are enhanced by Cedar, Birch, Eucalyptus, and Loganberry trees, with a full-circle driveway providing access. Decorative sidewalks connect all units. There are seven marked parking stalls, with additional unmarked parking available for 10 or more vehicles. Unit #1 is a single-story unit with 5 bedrooms and 2 bathrooms, totaling 1,280 square feet. Unit #2 is a single-story unit with 2 bedrooms and 1 bathroom, encompassing 630 square feet. Unit #3 is a single-story unit with 4 bedrooms and 2 bathrooms, offering 1,100 square feet. Unit #4 is a single-story unit with 2 bedrooms and 1 bathroom, providing 670 square feet. Unit #5 is a two-story unit with 6 bedrooms and 2 bathrooms, including a fireplace, and measures 1,970 square feet. The pool measures 30' x 15'. The pool house includes a half bathroom and spans 300 square feet. The storage unit provides 500 square feet of space. A dedicated firepit is also located on the property. The property is zoned light-industrial and is located in Perris, CA.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.06M
NOI $95,419 @ 9.00% cap · cautious / downside scenario
Moderate
$1.36M
NOI $95,419 @ 7.00% cap · market / base-case scenario
Aggressive
$1.91M
NOI $95,419 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $176.9k | $30.00 |
| − Vacancy | −$3.4k | −$0.57 |
| EGI | $173.5k | $29.43 |
| − OpEx | −$78.1k | −$13.24 |
| NOI | $95.4k | $16.19 |
5,895 SF · lease $30.00/SF/yr · vacancy 1.90% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,419 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,623 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Perris
- County
- Riverside
- State
- California
- Longitude
- -117.2538242
- Latitude
- 33.8525916
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 1.1 acre lot with 5 units, pool, and development potential.
Where is this apartment building located?
The property is located at 4439 Wade Avenue Perris, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1.1 acre light‑industrial zoned parcel with income potential from 5 existing units.; Diverse unit mix includes a variety of unit sizes, from 2‑bedroom to 6‑bedroom configurations.; Ample parking: Features 7 marked stalls plus space for 10+ additional vehicles.
