Three-Unit Residential Income
For Sale
$425,000
36708 Fort Irwin, Barstow, CA 92311
Three-unit setup on fully fenced acreage with a large 5-car garage and multiple recent roofing replacements.
Property Size2,820 SF
Lot Size2.60 Acres
Days on Market69
Property Features for 36708 Fort Irwin
General Information
Standard status
Active
Size
2,820 SF
Total Parking Spaces
5
Lot size
2.60 Acres
Property subtype
Investment
Additional Details
Fenced Yard
Yes
Drive-In Doors
5
Multifamily Units
3
Building Details
Building Size
2,820 SF
Year Built
1930
Stories
1
Units
3
Listing Agency:
Barstow Real Estate
(760) 577-4241
Listed By:
Donna Haverlock · License #00554060
(760) 577-4241
Source:
Elliman
Added: Jun 25
Changed: Aug 21
Last Checked: Aug 30 at 8:43PM
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 Barstow Real Estate
Investment Insights
Based on property information with market context.
This three-unit residential income property features a main house with 3 bedrooms, 1 bath, and a basement. The home includes original hardwood flooring in the bedrooms and a Spanish-style interior character. Updates include a brand-new A/C unit installed within the last year, along with electrical and plumbing improvements. Two additional units are also on-site and can support rental income with some TLC. All three units have been recently roofed.
The property sits on 2.6 acres and is fully fenced, offering a defined, private setting. A large 5-car garage provides practical parking or storage, with five separate bay doors. The home is located just minutes from stores and dining, with a short commute to Fort Irwin.
For tenants, buyers, or owner-operators seeking on-site income, this layout provides three separate units under one roofline, supported by dedicated garage space. The main house’s recent mechanical and utility updates may reduce near-term operating concerns, while the two additional units offer room for personalization and refreshed finishes based on each operator’s standards.
The property sits on 2.6 acres and is fully fenced, offering a defined, private setting. A large 5-car garage provides practical parking or storage, with five separate bay doors. The home is located just minutes from stores and dining, with a short commute to Fort Irwin.
For tenants, buyers, or owner-operators seeking on-site income, this layout provides three separate units under one roofline, supported by dedicated garage space. The main house’s recent mechanical and utility updates may reduce near-term operating concerns, while the two additional units offer room for personalization and refreshed finishes based on each operator’s standards.
Key Highlights
- Three‑unit property built in 1930 with a main 3 bed/1 bath home plus two additional units.
- Main house includes a basement, original hardwood flooring in the bedrooms, and a brand‑new A/C unit installed within the last year.
- Electrical and plumbing updates are noted in the main house.
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
$28,758
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
6.77%
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%
$575,160
$575.2K
Cap Rate 7%
$410,829
$410.8K
Cap Rate 9%
$319,533
$319.5K
Market Conditions
NOI Build-Up for 2,820 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
$43.7K $15.48/SF
− Vacancy
−$2.6K −$0.91/SF
EGI
$41.1K $14.57/SF
− OpEx
−$12.3K −$4.37/SF
NOI
$28.8K $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%
$575,160
Cap Rate 7%
$410,829
Cap Rate 9%
$319,533
Alternative Uses
Best Use
Multifamily LT 5
$410.8K
$359.5K – $479.3K
NOI $28,758 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$356.6K
$312.1K – $416.1K
NOI $24,965 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$594.8K
$520.5K – $694.0K
NOI $41,639 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Drive-in doors
3
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
62
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
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-unit setup on fully fenced acreage with a large 5-car garage and multiple recent roofing replacements.
Where is this triplex located?
The property is located at 36708 Fort Irwin Barstow, CA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three‑unit property built in 1930 with a main 3 bed/1 bath home plus two additional units.; Main house includes a basement, original hardwood flooring in the bedrooms, and a brand‑new A/C unit installed within the last year.; Electrical and plumbing updates are noted in the main house.
