Delano Quadplex Investment
For Sale
$365,000
1010 Dover Street, Delano, CA 93215
Four single-bed, single-bath units, priced to sell as-is.
Property Size2,340 SF
Lot Size0.14 Acres
Days on Market347
Property Features for 1010 Dover Street
General Information
Standard status
Active
Size
2,340 SF
Lot size
0.14 Acres
Property subtype
Quadruplex
Amenities
Evaporative
Building Details
Building Size
2,340 SF
Year Built
1964
Stories
1
Listing Agency:
Miramar International Calloway
(661) 302-2209
Listed By:
Andrew Frausto
(661) 302-2209
Source:
Kw
Added: Sep 19, 2025
Changed: Aug 27
Last Checked: Aug 31 at 12:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Miramar International Calloway
Investment Insights
Based on property information with market context.
This property presents an investment opportunity with four units. Each unit features a single bedroom and a single bathroom. The property is being offered in as-is condition and is currently tenant-occupied with all rents current. The property is located in Delano, California.
Key Highlights
- Great investment opportunity: Ideal for starting or expanding a rental portfolio.
- Four units included: Provides immediate rental income potential.
- All rents are current: Ensures immediate cash flow.
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
$29,208
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
8.00%
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%
$584,160
$584.2K
Cap Rate 7%
$417,257
$417.3K
Cap Rate 9%
$324,533
$324.5K
Market Conditions
NOI Build-Up for 2,340 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
$43.0K $18.36/SF
− Vacancy
−$1.2K −$0.53/SF
EGI
$41.7K $17.83/SF
− OpEx
−$12.5K −$5.35/SF
NOI
$29.2K $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%
$584,160
Cap Rate 7%
$417,257
Cap Rate 9%
$324,533
Alternative Uses
Best Use
Multifamily LT 5
$417.3K
$365.1K – $486.8K
NOI $29,208 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$385.1K
$337.0K – $449.3K
NOI $26,957 @ 7.0% cap · market cap 7.39%
Theoretical Best
Warehouse
$499.9K
$437.4K – $583.2K
NOI $34,992 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,199
Businesses Nearby
Explore this area
Business Placement
Demographics for 93215, CA
53,626
Population
13,207
Households
4.1
Avg Household Size
32
Median Age
8%
College-Educated
62%
High-School Grad
145.5 sq mi
ZIP Area
369
Density / Sq Mi
$61,329
Median Household Income
$26,998
Median Earnings
$1,085
Median Rent
$271,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four single-bed, single-bath units, priced to sell as-is.
Where is this quadplex located?
The property is located at 1010 Dover Street Delano, CA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Great investment opportunity: Ideal for starting or expanding a rental portfolio.; Four units included: Provides immediate rental income potential.; All rents are current: Ensures immediate cash flow.
