Triplex with Expansion
For Sale
$399,000
11986 White Avenue, Adelanto, CA 92301
Three detached homes on one lot with expansion possibilities.
Property Size1,653 SF
Days on Market190
Property Features for 11986 White Avenue
General Information
Standard status
Active
Size
1,653 SF
Property subtype
Triplex
Amenities
Wall Furnace
Gas Oven
Range Hood
Water Heater
Electricity Connected, Natural Gas Connected, Water Connected, Shingle
Building Details
Building Size
1,653 SF
Year Built
1954
Stories
1
Listing Agency:
Realty Masters & Associates
(909) 252-6504
Listed By:
ANA RUTH VILLASENOR ALBUREZ · License #02014991
(909) 252-6504
Source:
Kw
Added: Feb 20
Changed: Aug 27
Last Checked: Aug 28 at 5:49PM
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 Realty Masters & Associates
Investment Insights
Based on property information with market context.
This triplex features three detached units on a single lot, each equipped with separate electric, gas, and trash services, while sharing a water meter. The property offers strong income potential and long-term upside. The unit mix includes one unit with 2 bedrooms and 1 bathroom, and two units each with 1 bedroom and 1 bathroom. Each unit includes a private fenced yard, a dedicated parking area, tile flooring throughout, and a utility room with washer/dryer connections. The detached structures enhance privacy and reduce tenant turnover. The property also features a separate, spacious fenced rear yard with existing water, gas, and electric connections, presenting potential for a future manufactured home, RV setup, or additional improvements, subject to buyer verification. This property is an excellent opportunity for rental income, multi-generational living, or portfolio expansion due to its built-in utility separation and future potential.
Key Highlights
- Three detached homes on one lot, each with separate utilities.
- Strong income potential and long‑term upside.
- Each unit has a private fenced yard and dedicated parking.
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
$16,857
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
4.22%
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%
$337,140
$337.1K
Cap Rate 7%
$240,814
$240.8K
Cap Rate 9%
$187,300
$187.3K
Market Conditions
NOI Build-Up for 1,653 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
$25.6K $15.48/SF
− Vacancy
−$1.5K −$0.91/SF
EGI
$24.1K $14.57/SF
− OpEx
−$7.2K −$4.37/SF
NOI
$16.9K $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%
$337,140
Cap Rate 7%
$240,814
Cap Rate 9%
$187,300
Alternative Uses
Best Use
Multifamily LT 5
$240.8K
$210.7K – $281.0K
NOI $16,857 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$209.1K
$182.9K – $243.9K
NOI $14,634 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$348.7K
$305.1K – $406.8K
NOI $24,407 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
176
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three detached homes on one lot with expansion possibilities.
Where is this triplex located?
The property is located at 11986 White Avenue Adelanto, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three detached homes on one lot, each with separate utilities.; Strong income potential and long‑term upside.; Each unit has a private fenced yard and dedicated parking.
