Wildomar Multifamily Investment
For Sale
$699,000
21492 Dunn, Wildomar, CA 92595
Three dwellings with income potential in Wildomar, California.
Property Size3,700 SF
Days on Market138
Property Features for 21492 Dunn
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Investment
Building Details
Building Size
3,700 SF
Year Built
1964
Stories
1
Units
4
Listing Agency:
Trillion Real Estate
Listed By:
Tyson Robinson · License #01701231
(951) 970-5740
Source:
Elliman
Added: Apr 24
Changed: Aug 26
Last Checked: Sep 8 at 8:43AM
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 Trillion Real Estate
Investment Insights
Based on property information with market context.
This Wildomar property features three separate dwellings, presenting various possibilities, including multi-generational living or creating an event space. It offers income potential, currently bringing in approximately $4,600 monthly. The property includes chicken coops, vegetable gardens, and sheds. There is ample parking space. The larger property is divided into two, with two separate addresses for one parcel. The property has two separate electric and water meters and two septic tanks. Additional Dwelling Unit (ADU) potential is present.
Key Highlights
- Income potential of approximately $4,600/month.
- Three separate dwellings on one property.
- Two separate addresses for one parcel.
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
$59,890
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
8.57%
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%
$1,197,800
$1.2M
Cap Rate 7%
$855,571
$855.6K
Cap Rate 9%
$665,444
$665.4K
Market Conditions
NOI Build-Up for 3,700 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
$111.0K $30.00/SF
− Vacancy
−$2.1K −$0.57/SF
EGI
$108.9K $29.43/SF
− OpEx
−$49.0K −$13.24/SF
NOI
$59.9K $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 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%
$1,197,800
Cap Rate 7%
$855,571
Cap Rate 9%
$665,444
Alternative Uses
Best Use
Apartment 5plus
$855.6K
$748.6K – $998.2K
NOI $59,890 @ 7.0% cap · market cap 8.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$969.9K – $1.29M
NOI $77,592 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 92595, CA
34,405
Population
10,366
Households
3.3
Avg Household Size
37
Median Age
18%
College-Educated
86%
High-School Grad
21.5 sq mi
ZIP Area
1,600
Density / Sq Mi
$98,132
Median Household Income
$42,919
Median Earnings
$2,042
Median Rent
$523,500
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?
Multifamily property - Three dwellings with income potential in Wildomar, California.
Where is this multifamily property located?
The property is located at 21492 Dunn Wildomar, 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: Income potential of approximately $4,600/month.; Three separate dwellings on one property.; Two separate addresses for one parcel.
