Light-Industrial Zoned Multifamily
For Sale
$1,150,000
4439 Wade Avenue Unit 15, Perris, CA 92571
1.1-acre light-industrial zoned parcel with five existing units.
Property Size5,895 SF
Lot Size1.10 Acres
Price / SF$195.08
Days on Market642
Property Features for 4439 Wade Avenue Unit 15
General Information
Standard status
Active
Size
5,895 SF
Lot size
1.10 Acres
Property subtype
Residential Income / Townhouse
Zoning
CPS
Net Operating Income
$81,400
Building Details
Year Built
1910
Buildings
5
Units
5
Listing Agency:
Homecoin.com
Listed By:
Jonathan Minerick · License #995713977
(888) 400-2513
Source:
Compass
Added: Jan 3, 2025
Changed: Oct 6
Last Checked: Oct 5 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 Homecoin.com
Investment Insights
Based on property information with market context.
This 1.1-acre parcel is zoned light-industrial and features five existing units, a pool, a pool house, and a storage unit. The property is set in a rural location with Cedar, Birch, Eucalyptus, and Loganberry trees, and includes a full-circle driveway. Decorative sidewalks connect all units. There are seven marked parking stalls, with additional unmarked parking available for 10 or more vehicles. A dedicated firepit is also located on the property. Unit #1 is a single-story unit with 5 bedrooms and 2 bathrooms, totaling 1,280 square feet. Unit #2 is a single-story unit with 2 bedrooms and 1 bathroom, totaling 630 square feet. Unit #3 is a single-story unit with 4 bedrooms and 2 bathrooms, totaling 1,100 square feet. Unit #4 is a single-story unit with 2 bedrooms and 1 bathroom, totaling 670 square feet. Unit #5 is a two-story unit with a fireplace, 6 bedrooms and 2 bathrooms, totaling 1,970 square feet. The pool measures 30' x 15'. The pool house includes a half bathroom and measures 300 square feet. The storage unit measures 500 square feet.
Key Highlights
- 1.1 acre parcel zoned light‑industrial with 5 existing units, offering income potential or business opportunities.
- Diverse unit sizes ranging from 630 sqft to 1,970 sqft with a total of 19 bedrooms and 8 bathrooms.
- Features a pool and pool house, providing recreational amenities.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,419
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,908,380
$1.9M
Cap Rate 7%
$1,363,129
$1.4M
Cap Rate 9%
$1,060,211
$1.1M
Market Conditions
NOI Build-Up for 5,895 SF
Gross rent
$176.9K $30.00/SF
− Vacancy
−$3.4K −$0.57/SF
EGI
$173.5K $29.43/SF
− OpEx
−$78.1K −$13.24/SF
NOI
$95.4K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,908,380
Cap Rate 7%
$1,363,129
Cap Rate 9%
$1,060,211
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,419 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,623 @ 7.0% cap · market cap 10.75%
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 92571, CA
59,450
Population
14,792
Households
4
Avg Household Size
29
Median Age
12%
College-Educated
70%
High-School Grad
39.1 sq mi
ZIP Area
1,520
Density / Sq Mi
$85,746
Median Household Income
$37,465
Median Earnings
$2,005
Median Rent
$430,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - 1.1-acre light-industrial zoned parcel with five existing units.
Where is this apartment building located?
The property is located at 4439 Wade Avenue Unit 15 Perris, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 1.1 acre parcel zoned light‑industrial with 5 existing units, offering income potential or business opportunities.; Diverse unit sizes ranging from 630 sqft to 1,970 sqft with a total of 19 bedrooms and 8 bathrooms.; Features a pool and pool house, providing recreational amenities.**
