Multifamily Property with Gas
For Sale
$3,135,000
149 E Union, Fullerton, CA 92832
Multifamily property with wall-mounted climate equipment and a gas-equipped kitchen.
Property Size5,246 SF
Days on Market155
Property Features for 149 E Union
General Information
Standard status
Active
Size
5,246 SF
Total Parking Spaces
16
Property subtype
Residential Income
Net Operating Income
$125,717
Amenities
Park, Street Lights, Suburban, Sidewalks
Wall/Window Unit(s)
Wall Furnace
Gas Cooktop, Gas Oven, Gas Range, Microwave, Refrigerator, Range Hood
Ceiling Fan(s)
Assigned
Building Details
Building Size
5,246 SF
Year Built
1962
Buildings
2
Stories
2
Listing Agency:
(714) 329-2015
Listed By:
Andrew Dighera
(714) 329-2015
Source:
Evrealestate
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 31 at 3:19PM
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 Andrew Dighera
Investment Insights
Based on property information with market context.
This multifamily property was built in 1962 and includes wall/window unit air conditioning, a wall furnace, ceiling fans, and a kitchen equipped with a gas cooktop, gas oven, gas range, microwave, refrigerator, and range hood.
The property is located at 149 E Union in Fullerton, California, at the corner of Pomona and Union Avenue in Orange County.
The property is located at 149 E Union in Fullerton, California, at the corner of Pomona and Union Avenue in Orange County.
Key Highlights
- Multifamily property built in 1962
- Located at the corner of Pomona and Union Avenue
- Wall/window unit air conditioning and wall furnace
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
$87,624
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
2.80%
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%
$1,752,480
$1.8M
Cap Rate 7%
$1,251,771
$1.3M
Cap Rate 9%
$973,600
$973.6K
Market Conditions
NOI Build-Up for 5,246 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
$166.8K $31.80/SF
− Vacancy
−$7.5K −$1.43/SF
EGI
$159.3K $30.37/SF
− OpEx
−$71.7K −$13.67/SF
NOI
$87.6K $16.70/SF
Area
Fullerton, CA
Vacancy
4.50%
Lease Rate
$31.80 /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%
$1,752,480
Cap Rate 7%
$1,251,771
Cap Rate 9%
$973,600
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,624 @ 7.0% cap · market cap 2.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,084 @ 7.0% cap · market cap 3.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,563
Businesses Nearby
Explore this area
Business Placement
Demographics for 92832, CA
26,277
Population
9,170
Households
2.9
Avg Household Size
35
Median Age
32%
College-Educated
82%
High-School Grad
2.9 sq mi
ZIP Area
9,061
Density / Sq Mi
$92,588
Median Household Income
$42,634
Median Earnings
$2,027
Median Rent
$773,100
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?
Multifamily property - Multifamily property with wall-mounted climate equipment and a gas-equipped kitchen.
Where is this multifamily property located?
The property is located at 149 E Union Fullerton, CA.
What is the asking price?
The asking price for this property is $3,135,000.
What are key features of this property?
This property features: Multifamily property built in 1962; Located at the corner of Pomona and Union Avenue; Wall/window unit air conditioning and wall furnace
