Fully Rented Four-Unit
16228 Wato Rd Apple Valley, CA 92307
For Sale
$899,900
Pending
Well-maintained fourplex with strong income potential in a growing market.
Property Size3,808 SF
Lot Size0.50 Acres
Days on Market110
Property Features for 16228 Wato Rd
General Information
Standard status
Pending
Size
3,808 SF
Lot size
0.50 Acres
Property subtype
Investment
Building Details
Year Built
1984
Listing Agency:
Prudential California Realty - The Mulhearn Group
(760) 245-7323
Listed By:
Joanna Nassar · License #01964182
Source:
Elliman
Added: Apr 9
Changed: Jul 10
Last Checked: Jul 26 at 4:33AM
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 Prudential California Realty - The Mulhearn Group
Investment Insights
Based on property information with market context.
This is a rare opportunity to own a fully rented four-unit property situated on approximately half an acre in an ideal location. All units are currently rented, offering strong income potential. Each unit features a functional layout along with single-car garage parking. Each unit is approximately 952 square feet and offers 2 bedrooms and 2 bathrooms. The expansive lot sets this property apart from others in the area, offering additional space and long-term potential. This well-maintained property has seen recent upgrades, including exterior paint completed approximately 2 years ago and updated stairs. Units have been improved and are in good condition throughout. All units feature their own laundry, while the two upstairs units offer fireplaces. Comparable multi-unit properties in the area continue to be in high demand. Conveniently located near shopping, schools, and major commuter routes, this property offers excellent accessibility and rental appeal. The property is located in Apple Valley, CA 92307. The bike score is 22, walk score is 15, and transit score is 27.
Key Highlights
- Fully rented 4‑unit property providing immediate income.
- Located on a large, approximately half‑acre lot, offering potential.
- Each unit includes a single‑car garage and in‑unit laundry.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.9k | $15.48 |
| − Vacancy | −$3.5k | −$0.91 |
| EGI | $55.5k | $14.57 |
| − OpEx | −$16.6k | −$4.37 |
| NOI | $38.8k | $10.20 |
3,808 SF · lease $15.48/SF/yr · vacancy 5.89% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$554.8K
$485.4K – $647.2K
NOI $38,833 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$481.6K
$421.4K – $561.9K
NOI $33,712 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$803.2K
$702.8K – $937.1K
NOI $56,227 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex with strong income potential in a growing market.
Where is this quadplex located?
The property is located at 16228 Wato Rd Apple Valley, CA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Fully rented 4‑unit property providing immediate income.; Located on a large, approximately half‑acre lot, offering potential.; Each unit includes a single‑car garage and in‑unit laundry.
