Fully Occupied
For Sale
$1,050,000
Pending
15415 Sheila, Moreno Valley, CA 92551
Matching residential units offer separately metered utilities and covered parking.
Property Size3,484 SF
Days on Market117
Property Features for 15415 Sheila
General Information
Standard status
Pending
Size
3,484 SF
Total Parking Spaces
4
Property subtype
Investment
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Building Size
3,484 SF
Year Built
1979
Stories
2
Units
4
Listing Agency:
OPTION ONE REAL ESTATE
Listed By:
Mina Hernandez · License #01247796
Source:
Elliman
Added: May 8
Changed: Aug 31
Last Checked: Aug 30 at 11:01PM
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 OPTION ONE REAL ESTATE
Investment Insights
Based on property information with market context.
This fully occupied quadplex contains four matching residences, each configured with two bedrooms and one bathroom. Gas and electric service is separately metered for the individual units, and the property includes four carports for covered vehicle storage.
The property is located at 15415 Sheila in Moreno Valley, California, near neighborhood shopping and dining. Commuter access includes proximity to Freeways 60 and 215, providing connections to the surrounding area.
The property is located at 15415 Sheila in Moreno Valley, California, near neighborhood shopping and dining. Commuter access includes proximity to Freeways 60 and 215, providing connections to the surrounding area.
Key Highlights
- Fully occupied quadplex with four identical units
- Each unit includes 2 bedrooms and 1 bathroom
- Separate gas and electric meters for the units
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
$58,692
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
5.59%
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%
$1,173,840
$1.2M
Cap Rate 7%
$838,457
$838.5K
Cap Rate 9%
$652,133
$652.1K
Market Conditions
NOI Build-Up for 3,484 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
$87.8K $25.20/SF
− Vacancy
−$4.0K −$1.13/SF
EGI
$83.8K $24.07/SF
− OpEx
−$25.2K −$7.22/SF
NOI
$58.7K $16.85/SF
Area
Moreno Valley, CA
Vacancy
4.50%
Lease Rate
$25.20 /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%
$1,173,840
Cap Rate 7%
$838,457
Cap Rate 9%
$652,133
Alternative Uses
Best Use
Multifamily LT 5
$838.5K
$733.7K – $978.2K
NOI $58,692 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$755.3K
$660.9K – $881.2K
NOI $52,869 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,581 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Explore this area
Business Placement
Demographics for 92551, CA
34,294
Population
8,574
Households
4
Avg Household Size
31
Median Age
14%
College-Educated
76%
High-School Grad
6.2 sq mi
ZIP Area
5,531
Density / Sq Mi
$92,172
Median Household Income
$37,123
Median Earnings
$2,046
Median Rent
$435,700
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 - Matching residential units offer separately metered utilities and covered parking.
Where is this quadplex located?
The property is located at 15415 Sheila Moreno Valley, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Fully occupied quadplex with four identical units; Each unit includes 2 bedrooms and 1 bathroom; Separate gas and electric meters for the units
