20-Unit Multifamily Apartment
For Sale
$3,795,000
141 E 42nd St, San Bernardino, CA 92404
Built in 1976, this 20-unit apartment building includes secured parking and onsite laundry.
Property Size12,502 SF
Lot Size0.53 Acres
Price / SF$303.55
Days on Market155
Property Features for 141 E 42nd St
General Information
Standard status
Active
Size
12,502 SF
Total Parking Spaces
23
Lot size
0.53 Acres
Property subtype
Residential Income
Additional Details
Cap Rate
6.01%
Highway Access
Yes
Multifamily Units
20
Amenities
onsite laundry
gated secured parking
Building Details
Year Built
1976
Tenancy
Multi
Listing Agency:
Marcus & Millichap
(213) 943-1884
Listed By:
Oscar Diaz · License #02022902
(213) 943-1884
Source:
Exprealty
Added: Mar 31
Changed: Aug 31
Last Checked: Aug 31 at 12:21AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
141 E 42nd Street is a 20-unit apartment building built in 1976, offering 12 one-bedroom, one-bath units and eight two-bedroom, one-bath units. The property includes gated secured parking with nineteen carport spaces plus four open spaces, and onsite laundry generating additional annual income. Several improvements are in place, including repiping completed in July 2020 using PEX and copper, window replacements completed in December 2023, exterior paint completed in 2022, parking lot resurfacing completed in 2023, and a foam roof installed in May 2016 with a ten-year warranty and an additional ten-year extension available upon recoat.
The building is located north of the 210 Freeway in San Bernardino’s north side residential corridor. San Bernardino International Airport is roughly four miles to the southeast, and Arrowhead Regional Medical Center is within five miles.
For income context, current gross rents are reported at $355,380 annually, with rents described as not having been raised in over a year. The property’s unit mix and operational components, including parking and onsite laundry, support the reported current and projected income figures provided in the offering materials.
The building is located north of the 210 Freeway in San Bernardino’s north side residential corridor. San Bernardino International Airport is roughly four miles to the southeast, and Arrowhead Regional Medical Center is within five miles.
For income context, current gross rents are reported at $355,380 annually, with rents described as not having been raised in over a year. The property’s unit mix and operational components, including parking and onsite laundry, support the reported current and projected income figures provided in the offering materials.
Key Highlights
- 20‑unit apartment building built in 1976 with 12,502 rentable SF on a 22,950 SF lot
- Unit mix: twelve 1‑bedroom/1‑bath and eight 2‑bedroom/1‑bath apartments
- Current gross rents: $355,380/yr; market rents $428,880/yr (20.7% increase in gross income)
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
$160,356
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
4.23%
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%
$3,207,120
$3.2M
Cap Rate 7%
$2,290,800
$2.3M
Cap Rate 9%
$1,781,733
$1.8M
Market Conditions
NOI Build-Up for 12,502 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
$307.5K $24.60/SF
− Vacancy
−$16.0K −$1.28/SF
EGI
$291.6K $23.32/SF
− OpEx
−$131.2K −$10.49/SF
NOI
$160.4K $12.83/SF
Area
San Bernardino, CA
Vacancy
5.20%
Lease Rate
$24.60 /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%
$3,207,120
Cap Rate 7%
$2,290,800
Cap Rate 9%
$1,781,733
Alternative Uses
Best Use
Apartment 5plus
$2.29M
$2.00M – $2.67M
NOI $160,356 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.77M
$3.29M – $4.39M
NOI $263,562 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 92404, CA
64,270
Population
19,403
Households
3.3
Avg Household Size
31
Median Age
10%
College-Educated
72%
High-School Grad
31.6 sq mi
ZIP Area
2,034
Density / Sq Mi
$66,173
Median Household Income
$36,237
Median Earnings
$1,386
Median Rent
$383,700
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?
Apartment building - Built in 1976, this 20-unit apartment building includes secured parking and onsite laundry.
Where is this apartment building located?
The property is located at 141 E 42nd St San Bernardino, CA.
What is the asking price?
The asking price for this property is $3,795,000.
What are key features of this property?
This property features: 20‑unit apartment building built in 1976 with 12,502 rentable SF on a 22,950 SF lot; Unit mix: twelve 1‑bedroom/1‑bath and eight 2‑bedroom/1‑bath apartments; Current gross rents: $355,380/yr; market rents $428,880/yr (20.7% increase in gross income)
