Turnkey Townhome-Style Apartment
For Sale
Contact for pricing
Pending
1520 South Palm Avenue, Rialto, CA 92376
Turnkey 2008-built, townhome-style multifamily asset with eight units and two and six-bedroom mix.
Property Size8,576 SF
Days on Market95
Property Features for 1520 South Palm Avenue
General Information
Standard status
Pending
Size
8,576 SF
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$155,799
Additional Details
Business Included
Yes
Multifamily Units
8
Building Details
Year Built
2008
Units
8
Listing Agency:
Marcus & Millichap - Los Angeles
Listed By:
Jason Fefer · License #CA 02100489
(310) 909-5500
Source:
Crexi
Added: Jun 3
Changed: Sep 2
Last Checked: Sep 5 at 5:24AM
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 Marcus & Millichap - Los Angeles
Investment Insights
Based on property information with market context.
Turnkey, 2008-construction townhome-style multifamily property offering eight units in a well-maintained, condo-quality design. The unit mix includes two 2-bedroom/2.5-bath townhomes and six 3-bedroom/2.5-bath townhomes, totaling approximately 8,576 rentable square feet.
Located at 1520 South Palm Avenue in Rialto, California, the property provides a family-oriented layout with townhome-style living across all units. In-place rents are described as slightly below market, with limited near-term capital needs noted in the remarks.
Located at 1520 South Palm Avenue in Rialto, California, the property provides a family-oriented layout with townhome-style living across all units. In-place rents are described as slightly below market, with limited near-term capital needs noted in the remarks.
Key Highlights
- Turnkey 2008‑construction, townhome‑style multifamily at 1520 N Palm Avenue, Rialto, CA
- 8‑unit property totaling approx. 8,576 rentable SF
- Unit mix includes two 2‑bedroom/2.5‑bath townhomes and six 3‑bedroom/2.5‑bath townhomes
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
$108,491
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
3.57%
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%
$2,169,820
$2.2M
Cap Rate 7%
$1,549,871
$1.5M
Cap Rate 9%
$1,205,456
$1.2M
Market Conditions
NOI Build-Up for 8,576 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
$211.0K $24.60/SF
− Vacancy
−$13.7K −$1.60/SF
EGI
$197.3K $23.00/SF
− OpEx
−$88.8K −$10.35/SF
NOI
$108.5K $12.65/SF
Area
Rialto, CA
Vacancy
6.50%
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%
$2,169,820
Cap Rate 7%
$1,549,871
Cap Rate 9%
$1,205,456
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,491 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,674 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 92376, CA
84,548
Population
22,716
Households
3.7
Avg Household Size
32
Median Age
10%
College-Educated
72%
High-School Grad
13.3 sq mi
ZIP Area
6,357
Density / Sq Mi
$76,914
Median Household Income
$36,399
Median Earnings
$1,613
Median Rent
$433,100
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?
Apartment building - Turnkey 2008-built, townhome-style multifamily asset with eight units and two and six-bedroom mix.
Where is this apartment building located?
The property is located at 1520 South Palm Avenue Rialto, CA.
What is the asking price?
The asking price for this property is $3,040,000.
What are key features of this property?
This property features: Turnkey 2008‑construction, townhome‑style multifamily at 1520 N Palm Avenue, Rialto, CA; 8‑unit property totaling approx. 8,576 rentable SF; Unit mix includes two 2‑bedroom/2.5‑bath townhomes and six 3‑bedroom/2.5‑bath townhomes
