Updated Four-Unit Apartment
For Sale
$1,250,000
10982 Rincon Street, Loma Linda, CA 92354
Leased residential units include shared laundry facilities and recent building improvements.
Property Size3,448 SF
Days on Market14
Property Features for 10982 Rincon Street
General Information
Standard status
Active
Size
3,448 SF
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
on-site laundry room
Building Details
Building Size
3,448 SF
Year Built
1977
Buildings
1
Tenancy
Multi
Listing Agency:
Cochran Real Estate Professionals Inc
(951) 642-8521
Listed By:
Vince Lacambra · License #02139523
Source:
Camdenmckayre
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 29 at 4:02PM
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 Cochran Real Estate Professionals Inc
Investment Insights
Based on property information with market context.
This four-unit apartment property at 10982 Rincon Street in Loma Linda includes four two-bedroom, one-bath residences. Two units have been fully remodeled, while the other two have been updated and maintained. The property also includes an on-site laundry room with a washer and dryer, and no pending repairs are reported for the units or common areas.
All four units are currently leased. The landlord pays for water, trash, and landscaping. Capital improvements include a new roof installed in 2024 with a warranty, exterior painting completed in 2024, and electrical panel replacements completed in 2024. HVAC systems are regularly serviced. The property was built in 1977, and offers are subject to interior inspection.
All four units are currently leased. The landlord pays for water, trash, and landscaping. Capital improvements include a new roof installed in 2024 with a warranty, exterior painting completed in 2024, and electrical panel replacements completed in 2024. HVAC systems are regularly serviced. The property was built in 1977, and offers are subject to interior inspection.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- All units currently leased
- New roof installed in 2024 with warranty
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
2.81%
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 2.81%
Second Best
Apartment 5plus
$436.1K
$381.6K – $508.8K
NOI $30,525 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$727.3K
$636.4K – $848.5K
NOI $50,911 @ 7.0% cap · market cap 4.07%
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
2,431
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 - Leased residential units include shared laundry facilities and recent building improvements.
Where is this quadplex located?
The property is located at 10982 Rincon Street Loma Linda, 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: Four units, each with 2 bedrooms and 1 bathroom; All units currently leased; New roof installed in 2024 with warranty
