M-1 Zoned
New
For Sale
$599,000
14688 Washington Drive, Fontana, CA 92335
Each occupied unit has two bedrooms, one bathroom, indoor laundry, and a one-car garage.
Property Size1,563 SF
Lot Size0.24 Acres
Price / SF$378.40
Days on Market4
Property Features for 14688 Washington Drive
General Information
Standard status
Active
Size
1,563 SF
Total Parking Spaces
2
Lot size
0.24 Acres
Property subtype
Multi Family
Zoning
M-1
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
indoor laundry
Building Details
Building Size
1,563 SF
Year Built
1983
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Envision
Listed By:
Dolores Armienta · License #01831971
Source:
Camdenmckayre
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:30PM
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 Coldwell Banker Envision
Investment Insights
Based on property information with market context.
Built in 1983, this duplex contains approximately 1,583 square feet of living space on a 10,500-square-foot lot. Its two units each have two bedrooms, one bathroom, indoor laundry, and a one-car garage. Existing tenants occupy both units, supporting ongoing residential rental use.
Key Highlights
- M‑1 (light industrial) zoning
- Approximately 1,583 square feet of living area on a 10,500‑square‑foot lot
- Two units, each with two bedrooms and one bathroom
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
$23,316
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
3.89%
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%
$466,320
$466.3K
Cap Rate 7%
$333,086
$333.1K
Cap Rate 9%
$259,067
$259.1K
Market Conditions
NOI Build-Up for 1,583 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
$35.1K $22.20/SF
− Vacancy
−$1.8K −$1.16/SF
EGI
$33.3K $21.04/SF
− OpEx
−$10.0K −$6.31/SF
NOI
$23.3K $14.73/SF
Area
Fontana, CA
Vacancy
5.22%
Lease Rate
$22.20 /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%
$466,320
Cap Rate 7%
$333,086
Cap Rate 9%
$259,067
Alternative Uses
Best Use
Multifamily LT 5
$333.1K
$291.5K – $388.6K
NOI $23,316 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$306.1K
$267.8K – $357.1K
NOI $21,425 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$460.6K
$403.1K – $537.4K
NOI $32,244 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 92335, CA
96,605
Population
25,861
Households
3.7
Avg Household Size
31
Median Age
10%
College-Educated
67%
High-School Grad
17.5 sq mi
ZIP Area
5,520
Density / Sq Mi
$75,198
Median Household Income
$35,912
Median Earnings
$1,636
Median Rent
$433,600
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?
Duplex - Each occupied unit has two bedrooms, one bathroom, indoor laundry, and a one-car garage.
Where is this duplex located?
The property is located at 14688 Washington Drive Fontana, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: M‑1 (light industrial) zoning; Approximately 1,583 square feet of living area on a 10,500‑square‑foot lot; Two units, each with two bedrooms and one bathroom
