Gated Quadplex With Manager’s
For Sale
$695,000
15400 Kiamichi Road Apple, Apple Valley, CA 92307
Four-unit property with covered parking, private storage, and a shared laundry facility.
Property Size3,753 SF
Lot Size0.39 Acres
Price / SF$185.19
Days on Market134
Property Features for 15400 Kiamichi Road Apple
General Information
Standard status
Active
Size
3,753 SF
Lot size
0.39 Acres
Property subtype
Quadruplex
Units
Unit Mix
3 x 2BR/1BA, 1 x 2BR+bonus/2BA
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
covered carports with private storage closets
community laundry facility
gated entry
camera system
Fireplace
Security System
Central
Central Air
Gas Range
Water Heater
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected, Shingle
Building Details
Year Built
1965
Stories
1
Listing Agency:
Realty ONE Group Empire
Listed By:
Debra Tilbury · License #02097428
(760) 912-9847
Source:
Kw
Added: May 1
Changed: Sep 10
Last Checked: Sep 9 at 8:33PM
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 Realty ONE Group Empire
Investment Insights
Based on property information with market context.
This four-unit quadplex contains 3,753 square feet on a 17,020-square-foot lot. The unit mix includes three two-bedroom, one-bath residences of approximately 875 square feet each, plus a larger two-bedroom manager’s unit with a bonus room or office, two bathrooms, and approximately 1,000+ square feet. Each residence has central heating and air with roof units, while copper plumbing, granite countertops, and tile and carpet flooring are found throughout.
The property is fully gated with an automatic entry gate, camera system, concrete driveway, covered carports, and private storage closets. Residents also have access to a community laundry facility with a washer and dryer. Individual gas and electric meters serve the units, and the property is connected to public water and sewer. Apartment #4 received a new water heater in 2026.
The property is fully gated with an automatic entry gate, camera system, concrete driveway, covered carports, and private storage closets. Residents also have access to a community laundry facility with a washer and dryer. Individual gas and electric meters serve the units, and the property is connected to public water and sewer. Apartment #4 received a new water heater in 2026.
Key Highlights
- Four‑unit quadplex with 3,753 square feet on a 17,020‑square‑foot lot
- Unit mix includes three 2‑bedroom, 1‑bath units plus a 2‑bedroom manager’s unit with bonus room or office
- Manager’s unit measures approximately 1,000+ square feet; other units are approximately 875 square feet each
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
$38,272
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
5.51%
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%
$765,440
$765.4K
Cap Rate 7%
$546,743
$546.7K
Cap Rate 9%
$425,244
$425.2K
Market Conditions
NOI Build-Up for 3,753 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
$58.1K $15.48/SF
− Vacancy
−$3.4K −$0.91/SF
EGI
$54.7K $14.57/SF
− OpEx
−$16.4K −$4.37/SF
NOI
$38.3K $10.20/SF
Area
San Bernardino County, CA
Vacancy
5.89%
Lease Rate
$15.48 /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%
$765,440
Cap Rate 7%
$546,743
Cap Rate 9%
$425,244
Alternative Uses
Best Use
Multifamily LT 5
$546.7K
$478.4K – $637.9K
NOI $38,272 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$474.6K
$415.3K – $553.8K
NOI $33,225 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$791.6K
$692.7K – $923.6K
NOI $55,415 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
Explore this area
Business Placement
Demographics for 92307, CA
41,649
Population
13,832
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
187.5 sq mi
ZIP Area
222
Density / Sq Mi
$74,715
Median Household Income
$39,014
Median Earnings
$1,379
Median Rent
$396,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with covered parking, private storage, and a shared laundry facility.
Where is this quadplex located?
The property is located at 15400 Kiamichi Road Apple Apple Valley, CA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,753 square feet on a 17,020‑square‑foot lot; Unit mix includes three 2‑bedroom, 1‑bath units plus a 2‑bedroom manager’s unit with bonus room or office; Manager’s unit measures approximately 1,000+ square feet; other units are approximately 875 square feet each
