Vacant Triplex with Unit
For Sale
Contact for pricing
14192 Locust Street, Westminster, CA 92683
Three residential units are offered vacant, with two-bedroom layouts and one- or two-bath configurations.
Property Size3,129 SF
Lot Size0.21 Acres
Price / SF$447.11
Days on Market8
Property Features for 14192 Locust Street
General Information
Standard status
Active
Size
3,129 SF
Lot size
0.21 Acres
Property subtype
Multifamily
Zoning
Assessor
Additional Details
Multifamily Units
3
Building Details
Buildings
2
Units
3
Listing Agency:
Keller Williams Pacific Estates
(562) 355-5489
Listed By:
Luis Gallegos · License #01806981
Source:
Crexi
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 9:56AM
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 Pacific Estates
Investment Insights
Based on property information with market context.
This triplex contains three residential units totaling approximately 3.129 SF of building area on a 9,148 SF lot. The unit mix includes two-bedroom, one-bath residences and two-bedroom, two-bath residences, providing consistent bedroom layouts with varied bath counts.
All three units will be delivered vacant. The property is located at 14192 Locust Street in Westminster, California, and carries an Assessor zoning designation. Vacant delivery allows the next owner to evaluate rehabilitation, renovation, or reconfiguration plans based on the property's existing layout and condition.
All three units will be delivered vacant. The property is located at 14192 Locust Street in Westminster, California, and carries an Assessor zoning designation. Vacant delivery allows the next owner to evaluate rehabilitation, renovation, or reconfiguration plans based on the property's existing layout and condition.
Key Highlights
- Three‑unit triplex with approximately 3.129 sqft of total building space
- 9,148 sqft lot
- All units delivered vacant
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
$66,000
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
4.72%
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%
$1,320,000
$1.3M
Cap Rate 7%
$942,857
$942.9K
Cap Rate 9%
$733,333
$733.3K
Market Conditions
NOI Build-Up for 3,129 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
$97.6K $31.20/SF
− Vacancy
−$3.3K −$1.07/SF
EGI
$94.3K $30.13/SF
− OpEx
−$28.3K −$9.04/SF
NOI
$66.0K $21.09/SF
Area
Orange County, CA
Vacancy
3.42%
Lease Rate
$31.20 /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%
$1,320,000
Cap Rate 7%
$942,857
Cap Rate 9%
$733,333
Alternative Uses
Best Use
Multifamily LT 5
$942.9K
$825.0K – $1.10M
NOI $66,000 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$853.2K
$746.6K – $995.4K
NOI $59,724 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$1.05M
$919.6K – $1.23M
NOI $73,568 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,368
Businesses Nearby
Explore this area
Business Placement
Demographics for 92683, CA
90,946
Population
29,075
Households
3.1
Avg Household Size
42
Median Age
26%
College-Educated
78%
High-School Grad
9.7 sq mi
ZIP Area
9,376
Density / Sq Mi
$82,703
Median Household Income
$39,821
Median Earnings
$2,101
Median Rent
$820,000
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 residential units are offered vacant, with two-bedroom layouts and one- or two-bath configurations.
Where is this triplex located?
The property is located at 14192 Locust Street Westminster, CA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Three‑unit triplex with approximately 3.129 sqft of total building space; 9,148 sqft lot; All units delivered vacant
