Attractive Six-Unit Apartment
For Sale
$899,999
11246 Chapparal, Adelanto, CA 92301
Lucrative investment opportunity with upside potential near logistics hubs.
Property Size5,616 SF
Price / SF$160.26
Days on Market143
Property Features for 11246 Chapparal
General Information
Standard status
Active
Size
5,616 SF
Building Details
Year Built
1987
Listing Agency:
CHAMPIONS REAL ESTATE
Listed By:
Francisco Perpuly · License #01930066
(888) 584-9427
Source:
Myfabuloushome
Added: Apr 24
Changed: Sep 4
Last Checked: Sep 12 at 1:57PM
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 CHAMPIONS REAL ESTATE
Investment Insights
Based on property information with market context.
This attractive 6-unit apartment complex presents a compelling investment opportunity. The property is composed of 2 separate buildings, each containing 3 units. Each unit features 2 bedrooms and 1 bathroom. Indoor laundry facilities are included within each unit. A 1-car garage is provided per apartment. The current market rents stand at $10,200 (Projected Gross), offering room for upside potential. The property is situated near a Logistics Airport and the newly established Amazon Distribution Center, Snapple, and Boeing. The Section 8 Local Payment Standards dictate rents at $1769.
Key Highlights
- Lucrative investment opportunity with 6 units in two buildings.
- Each unit includes indoor laundry facilities and a 1‑car garage.
- Strategic location near Logistics Airport, Amazon, Snapple, Boeing.
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
$49,718
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
5.52%
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%
$994,360
$994.4K
Cap Rate 7%
$710,257
$710.3K
Cap Rate 9%
$552,422
$552.4K
Market Conditions
NOI Build-Up for 5,616 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
$96.4K $17.16/SF
− Vacancy
−$6.0K −$1.06/SF
EGI
$90.4K $16.10/SF
− OpEx
−$40.7K −$7.24/SF
NOI
$49.7K $8.85/SF
Area
San Bernardino County, CA
Vacancy
6.20%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
45.00%
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%
$994,360
Cap Rate 7%
$710,257
Cap Rate 9%
$552,422
Alternative Uses
Best Use
Apartment 5plus
$710.3K
$621.5K – $828.6K
NOI $49,718 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,923 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 92301, CA
38,912
Population
10,069
Households
3.9
Avg Household Size
29
Median Age
8%
College-Educated
73%
High-School Grad
224.8 sq mi
ZIP Area
173
Density / Sq Mi
$68,205
Median Household Income
$35,172
Median Earnings
$1,385
Median Rent
$316,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Lucrative investment opportunity with upside potential near logistics hubs.
Where is this apartment building located?
The property is located at 11246 Chapparal Adelanto, CA.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Lucrative investment opportunity with 6 units in two buildings.; Each unit includes indoor laundry facilities and a 1‑car garage.; Strategic location near Logistics Airport, Amazon, Snapple, Boeing.
