Five-Unit Apartment
For Sale
Contact for pricing
Pending
1493 Belle Street, San Bernardino, CA 92404
Five-unit multifamily asset with separate gas and electric meters and a long driveway providing over 10 parking spaces.
Property Size2,722 SF
Lot Size0.26 Acres
Days on Market231
Property Features for 1493 Belle Street
General Information
Standard status
Pending
Size
2,722 SF
Lot size
0.26 Acres
Property subtype
Multifamily
Zoning
Assessor
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
5
Building Details
Buildings
2
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
RJ Realty
Listed By:
Ricky Lee · License #CA 01932116
(909) 348-3956
Source:
Crexi
Added: Jan 20
Changed: Aug 8
Last Checked: Jul 24 at 12:25PM
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 RJ Realty
Investment Insights
Based on property information with market context.
This five-unit apartment property features three units in the front house and two studio units in the back house above a three-car garage. The front units include two 1-bedroom, 1-bath layouts and one 2-bedroom, 1-bath layout. The back house includes two studios, identified as units 1493B and 1493C. The property is described as well maintained and in good condition, with new electrical panels, renovated kitchens, newer water heaters, and partially updated plumbing. Each unit has separate gas and electric meters, while the landlord covers water, trash, and the gardener.
The property sits on a spacious flat lot and includes a super long driveway offering more than 10 parking spaces. The public remarks also note potential for an ADU. It is located near the 210/215 freeways, schools, and shopping centers.
Parking and meter separation support practical resident setup, with the configuration combining a three-unit front building and two studio units above the garage in the rear.
The property sits on a spacious flat lot and includes a super long driveway offering more than 10 parking spaces. The public remarks also note potential for an ADU. It is located near the 210/215 freeways, schools, and shopping centers.
Parking and meter separation support practical resident setup, with the configuration combining a three-unit front building and two studio units above the garage in the rear.
Key Highlights
- Five‑unit multifamily property in San Bernardino, fully occupied with five stable rental incomes
- 11,410 sqft flat lot with ADU potential and a super long driveway with more than 10 parking spaces
- Front house includes three units: 1497 (1 bed/1 bath), 1495 (1 bed/1 bath), and 1493A (2 bed/1 bath)
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
$34,914
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
4.99%
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%
$698,280
$698.3K
Cap Rate 7%
$498,771
$498.8K
Cap Rate 9%
$387,933
$387.9K
Market Conditions
NOI Build-Up for 2,722 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
$67.0K $24.60/SF
− Vacancy
−$3.5K −$1.28/SF
EGI
$63.5K $23.32/SF
− OpEx
−$28.6K −$10.49/SF
NOI
$34.9K $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%
$698,280
Cap Rate 7%
$498,771
Cap Rate 9%
$387,933
Alternative Uses
Best Use
Apartment 5plus
$498.8K
$436.4K – $581.9K
NOI $34,914 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$819.8K
$717.3K – $956.4K
NOI $57,384 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,738
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit multifamily asset with separate gas and electric meters and a long driveway providing over 10 parking spaces.
Where is this apartment building located?
The property is located at 1493 Belle Street San Bernardino, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Five‑unit multifamily property in San Bernardino, fully occupied with five stable rental incomes; 11,410 sqft flat lot with ADU potential and a super long driveway with more than 10 parking spaces; Front house includes three units: 1497 (1 bed/1 bath), 1495 (1 bed/1 bath), and 1493A (2 bed/1 bath)
