Two-Bedroom Quadplex Near
New
For Sale
$1,050,000
10923 Rincon St, Loma Linda, CA 92354
Fully occupied four-unit property with month-to-month agreements and central air conditioning and heat in every residence.
Property Size3,448 SF
Days on Market2
Property Features for 10923 Rincon St
General Information
Standard status
Active
Size
3,448 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Building Size
3,448 SF
Year Built
1977
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
(909) 647-3673
Listed By:
MICHELLE CARREON · License #02062989
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 9:59AM
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 MICHELLE CARREON
Investment Insights
Based on property information with market context.
This 1977-built quadplex contains four residential units, each configured with two bedrooms and one bathroom. Central air conditioning and heat serve every unit, supporting consistent residential functionality across the property. All units are currently occupied under month-to-month rental agreements.
The property is located one mile from LLUMC. Walk Score is 35, Bike Score is 45, and Transit Score is 38, indicating a car-dependent setting with some bicycle and transit access. The asset is positioned at 10923 Rincon St in Loma Linda, California.
The property is located one mile from LLUMC. Walk Score is 35, Bike Score is 45, and Transit Score is 38, indicating a car-dependent setting with some bicycle and transit access. The asset is positioned at 10923 Rincon St in Loma Linda, California.
Key Highlights
- Four‑unit quadplex built in 1977
- Each unit includes 2 bedrooms and 1 bathroom
- All four units are occupied
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
$35,162
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
3.35%
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%
$703,240
$703.2K
Cap Rate 7%
$502,314
$502.3K
Cap Rate 9%
$390,689
$390.7K
Market Conditions
NOI Build-Up for 3,448 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
$53.4K $15.48/SF
− Vacancy
−$3.1K −$0.91/SF
EGI
$50.2K $14.57/SF
− OpEx
−$15.1K −$4.37/SF
NOI
$35.2K $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%
$703,240
Cap Rate 7%
$502,314
Cap Rate 9%
$390,689
Alternative Uses
Best Use
Multifamily LT 5
$502.3K
$439.5K – $586.0K
NOI $35,162 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$436.1K
$381.6K – $508.8K
NOI $30,525 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$727.3K
$636.4K – $848.5K
NOI $50,911 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,374
Businesses Nearby
Explore this area
Business Placement
Demographics for 92354, CA
22,626
Population
8,975
Households
2.5
Avg Household Size
37
Median Age
48%
College-Educated
91%
High-School Grad
5.0 sq mi
ZIP Area
4,525
Density / Sq Mi
$86,063
Median Household Income
$44,487
Median Earnings
$1,711
Median Rent
$539,100
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?
Quadplex - Fully occupied four-unit property with month-to-month agreements and central air conditioning and heat in every residence.
Where is this quadplex located?
The property is located at 10923 Rincon St Loma Linda, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1977; Each unit includes 2 bedrooms and 1 bathroom; All four units are occupied
