Fully Occupied 12-Unit Apartment
For Sale
$1,225,000
518 W Fredricks, Barstow, CA 92311
Twelve well-maintained studio and 1-bedroom units with individually metered utilities and on-site parking.
Property Size5,896 SF
Days on Market102
Property Features for 518 W Fredricks
General Information
Standard status
Active
Size
5,896 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
12
Building Details
Building Size
5,896 SF
Year Built
1952
Stories
1
Units
12
Tenancy
Multi
Listing Agency:
Keller Williams Realty Redlands
Listed By:
JAMES KELLEY · License #01963137
(909) 793-2100
Source:
Elliman
Added: Jun 4
Changed: Aug 28
Last Checked: Sep 12 at 7:02AM
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 Redlands
Investment Insights
Based on property information with market context.
This fully occupied 12-unit apartment complex offers a practical mix of studio and 1-bedroom residences. The property is described as well-maintained and move-in ready. Each unit is individually metered for gas and electricity, helping keep owner expenses straightforward. The community also features on-site parking and low-maintenance landscaping, supporting day-to-day operational simplicity.
The building is located near I-15 and I-40 in Barstow, providing convenient regional access. The public remarks also reference the BNSF Railway Barstow International Gateway, a 4,500-acre integrated rail facility expected to create approximately 20,000 direct and indirect jobs, with construction anticipated to begin in late 2026. This planned project is cited as a key factor shaping the city’s forward-looking housing environment.
For investors or operators seeking a residential income property with established occupancy, the unit mix and individually metered utilities are key operational considerations. The offering is positioned as stabilized, with the described configuration and maintenance profile suited to buyers looking for a turnkey approach rather than a full renovation. Any additional improvements referenced are limited in the remarks to potential rent adjustments or light interior upgrades, leaving a path for measured value enhancement based on the property’s existing condition.
The building is located near I-15 and I-40 in Barstow, providing convenient regional access. The public remarks also reference the BNSF Railway Barstow International Gateway, a 4,500-acre integrated rail facility expected to create approximately 20,000 direct and indirect jobs, with construction anticipated to begin in late 2026. This planned project is cited as a key factor shaping the city’s forward-looking housing environment.
For investors or operators seeking a residential income property with established occupancy, the unit mix and individually metered utilities are key operational considerations. The offering is positioned as stabilized, with the described configuration and maintenance profile suited to buyers looking for a turnkey approach rather than a full renovation. Any additional improvements referenced are limited in the remarks to potential rent adjustments or light interior upgrades, leaving a path for measured value enhancement based on the property’s existing condition.
Key Highlights
- 12‑unit apartment complex built in 1952 with a mix of studio and 1‑bedroom units
- Units are individually metered for gas and electricity
- On‑site parking included for residents
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
$52,196
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
4.26%
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%
$1,043,920
$1.0M
Cap Rate 7%
$745,657
$745.7K
Cap Rate 9%
$579,956
$580.0K
Market Conditions
NOI Build-Up for 5,896 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
$101.2K $17.16/SF
− Vacancy
−$6.3K −$1.06/SF
EGI
$94.9K $16.10/SF
− OpEx
−$42.7K −$7.24/SF
NOI
$52.2K $8.85/SF
Area
San Bernardino County, CA
Vacancy
6.20%
Lease Rate
$17.16 /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%
$1,043,920
Cap Rate 7%
$745,657
Cap Rate 9%
$579,956
Alternative Uses
Best Use
Apartment 5plus
$745.7K
$652.5K – $869.9K
NOI $52,196 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,057 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
Business Placement
Demographics for 92311, CA
34,524
Population
13,707
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
84%
High-School Grad
424.4 sq mi
ZIP Area
81
Density / Sq Mi
$59,338
Median Household Income
$38,871
Median Earnings
$1,081
Median Rent
$217,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve well-maintained studio and 1-bedroom units with individually metered utilities and on-site parking.
Where is this apartment building located?
The property is located at 518 W Fredricks Barstow, CA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 12‑unit apartment complex built in 1952 with a mix of studio and 1‑bedroom units; Units are individually metered for gas and electricity; On‑site parking included for residents
