Four Units on Corner
For Sale
$1,599,000
14851 Adams Street, Midway City, CA 92655
Four units with income and development potential on corner lot.
Property Size2,500 SF
Days on Market165
Property Features for 14851 Adams Street
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Residential Income
Net Operating Income
$62,838
Amenities
Curbs, Street Lights, Sidewalks
Disposal, Gas Range
On Street
Building Details
Building Size
2,500 SF
Year Built
1961
Buildings
3
Stories
1
Listing Agency:
Grason Homes
(714) 272-2626
Listed By:
Caesar Ruiz · License #01252075
(714) 272-2626
Source:
Evrealestate
Added: Mar 19
Changed: Aug 27
Last Checked: Aug 29 at 7:26AM
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 Grason Homes
Investment Insights
Based on property information with market context.
This property presents an investment opportunity with four separately metered units on a single lot, offering immediate income and upside potential. Situated on a corner lot, the property allows for development options with the possibility to expand and add additional units. Each unit has its own separate mailing address. One unit, 14851 Adams Street, is a detached single-family residence featuring 2 bedrooms, 1 full bath, a separate living room, dining room, and inside laundry. Two units, 14853 and 14855 Adams Street, share a common wall and are 1 bedroom, 1 bath units with spacious private patios. The fourth unit, 14857 Adams Street, is a detached ADU built in 2022 and features 1 bedroom, 1 bath with a large private patio.
Key Highlights
- Four separately metered units on a single lot providing immediate income.
- Prime corner lot location with development potential to expand and add units.
- Detached ADU built in 2022 with 1 bedroom, 1 bath, and large private patio.
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
$52,733
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
3.30%
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%
$1,054,660
$1.1M
Cap Rate 7%
$753,329
$753.3K
Cap Rate 9%
$585,922
$585.9K
Market Conditions
NOI Build-Up for 2,500 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
$78.0K $31.20/SF
− Vacancy
−$2.7K −$1.07/SF
EGI
$75.3K $30.13/SF
− OpEx
−$22.6K −$9.04/SF
NOI
$52.7K $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%
$1,054,660
Cap Rate 7%
$753,329
Cap Rate 9%
$585,922
Alternative Uses
Best Use
Multifamily LT 5
$753.3K
$659.2K – $878.9K
NOI $52,733 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$681.7K
$596.5K – $795.3K
NOI $47,718 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$839.7K
$734.7K – $979.7K
NOI $58,779 @ 7.0% cap · market cap 3.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 92655, CA
8,878
Population
2,845
Households
3.1
Avg Household Size
40
Median Age
21%
College-Educated
67%
High-School Grad
0.9 sq mi
ZIP Area
9,864
Density / Sq Mi
$64,602
Median Household Income
$36,588
Median Earnings
$1,443
Median Rent
$723,700
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?
Quadplex - Four units with income and development potential on corner lot.
Where is this quadplex located?
The property is located at 14851 Adams Street Midway City, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Four separately metered units on a single lot providing immediate income.; Prime corner lot location with development potential to expand and add units.; Detached ADU built in 2022 with 1 bedroom, 1 bath, and large private patio.
