Occupied Fourplex with
New
For Sale
$699,000
11461 Oasis, Pinon Hills, CA 92372
Four residential units provide private fenced yards, central HVAC, natural gas, and supplemental parking.
Property Size3,796 SF
Lot Size2.24 Acres
Days on Market2
Property Features for 11461 Oasis
General Information
Standard status
Active
Size
3,796 SF
Total Parking Spaces
4
Lot size
2.24 Acres
Property subtype
Investment
Occupancy
100%
Lease Term
Month-to-month
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/2BA, 2 x 3BR/2BA
Multifamily Units
4
Amenities
private fenced yard
central A/C and heat
natural gas
Building Details
Building Size
3,796 SF
Year Built
1998
Buildings
1
Stories
1
Units
4
Listing Agency:
Keller Williams Realty Phelan
Listed By:
CAROL SMITH · License #01061997
(951) 757-8369
Source:
Elliman
Added: Sep 1
Last Checked: Sep 1 at 8:29PM
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 Keller Williams Realty Phelan
Investment Insights
Based on property information with market context.
Built in 1998, this fourplex contains two 2-bedroom/2-bath residences and two 3-bedroom/2-bath residences. The property spans 2.24 acres just off a paved road, with each unit equipped with a single-car garage, private fenced yard, central air conditioning and heat, and natural gas service. The building is fully occupied, providing established rental use across the four residences.
Located at 11461 Oasis in Piñon Hills, California, the property includes additional parking for tenants and guests. The usable acreage may support consideration of future expansion, subject to County approval. Walk Score is 2 and Bike Score is 19, reflecting a car-dependent setting with limited bicycle access.
Located at 11461 Oasis in Piñon Hills, California, the property includes additional parking for tenants and guests. The usable acreage may support consideration of future expansion, subject to County approval. Walk Score is 2 and Bike Score is 19, reflecting a car-dependent setting with limited bicycle access.
Key Highlights
- Fourplex with two 2‑bedroom/2‑bath units and two 3‑bedroom/2‑bath units
- Fully occupied residential income property on 2.24 acres
- Each unit includes a single‑car garage and private fenced yard
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
$38,711
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
5.54%
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%
$774,220
$774.2K
Cap Rate 7%
$553,014
$553.0K
Cap Rate 9%
$430,122
$430.1K
Market Conditions
NOI Build-Up for 3,796 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
$58.8K $15.48/SF
− Vacancy
−$3.5K −$0.91/SF
EGI
$55.3K $14.57/SF
− OpEx
−$16.6K −$4.37/SF
NOI
$38.7K $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%
$774,220
Cap Rate 7%
$553,014
Cap Rate 9%
$430,122
Alternative Uses
Best Use
Multifamily LT 5
$553.0K
$483.9K – $645.2K
NOI $38,711 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$480.1K
$420.1K – $560.1K
NOI $33,605 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$800.7K
$700.6K – $934.2K
NOI $56,050 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 92372, CA
5,594
Population
1,924
Households
2.9
Avg Household Size
44
Median Age
16%
College-Educated
84%
High-School Grad
25.7 sq mi
ZIP Area
218
Density / Sq Mi
$63,665
Median Household Income
$51,369
Median Earnings
$1,074
Median Rent
$418,700
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 residential units provide private fenced yards, central HVAC, natural gas, and supplemental parking.
Where is this quadplex located?
The property is located at 11461 Oasis Pinon Hills, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Fourplex with two 2‑bedroom/2‑bath units and two 3‑bedroom/2‑bath units; Fully occupied residential income property on 2.24 acres; Each unit includes a single‑car garage and private fenced yard
