Well-Maintained 18-Unit Apartment
For Sale
Contact for pricing
15430-15436 Meyer Road, Mojave, CA 93501
Well-maintained 18-unit multifamily property with on-site storage units and ample parking for tenants and guests.
Property Size11,598 SF
Price / SF$168.13
Days on Market149
Property Features for 15430-15436 Meyer Road
General Information
Standard status
Active
Size
11,598 SF
Property subtype
Multifamily
Zoning
R-3 PD FPS
Additional Details
Business Included
Yes
Multifamily Units
18
Building Details
Year Built
1988
Buildings
4
Stories
2
Units
18
Listing Agency:
The Mora Partners, Inc
Listed By:
Eric Mora · License #CA DRE02227690
(661) 564-8409
Source:
Crexi
Added: Apr 11
Changed: Sep 5
Last Checked: Sep 4 at 9:48PM
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 The Mora Partners, Inc
Investment Insights
Based on property information with market context.
This well-maintained 18-unit apartment building is offered for sale and includes an additional on-site storage component that can support extra revenue. The property is described as having a diverse unit mix, and it includes an expansive parking area intended to provide convenient access for tenants and guests.
The property is located at 15430–15436 Meyer Road in Mojave, CA 93501.
As presented, the building combines residential units with dedicated storage and parking, offering a straightforward multifamily configuration for buyers seeking a manageable, turnkey-style asset.
The property is located at 15430–15436 Meyer Road in Mojave, CA 93501.
As presented, the building combines residential units with dedicated storage and parking, offering a straightforward multifamily configuration for buyers seeking a manageable, turnkey-style asset.
Key Highlights
- Well‑maintained 18‑unit multifamily property built in 1988
- Diverse unit mix across the 18 units
- Additional on‑site storage units for extra revenue potential
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
$133,609
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
6.85%
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%
$2,672,180
$2.7M
Cap Rate 7%
$1,908,700
$1.9M
Cap Rate 9%
$1,484,544
$1.5M
Market Conditions
NOI Build-Up for 11,598 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
$250.5K $21.60/SF
− Vacancy
−$7.6K −$0.65/SF
EGI
$242.9K $20.95/SF
− OpEx
−$109.3K −$9.43/SF
NOI
$133.6K $11.52/SF
Area
Kern County, CA
Vacancy
3.03%
Lease Rate
$21.60 /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%
$2,672,180
Cap Rate 7%
$1,908,700
Cap Rate 9%
$1,484,544
Alternative Uses
Best Use
Apartment 5plus
$1.91M
$1.67M – $2.23M
NOI $133,609 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.48M
$2.17M – $2.89M
NOI $173,437 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
18
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 93501, CA
5,772
Population
2,416
Households
2.4
Avg Household Size
35
Median Age
7%
College-Educated
74%
High-School Grad
222.0 sq mi
ZIP Area
26
Density / Sq Mi
$55,372
Median Household Income
$37,500
Median Earnings
$1,175
Median Rent
$183,400
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 - Well-maintained 18-unit multifamily property with on-site storage units and ample parking for tenants and guests.
Where is this multifamily property located?
The property is located at 15430-15436 Meyer Road Mojave, CA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Well‑maintained 18‑unit multifamily property built in 1988; Diverse unit mix across the 18 units; Additional on‑site storage units for extra revenue potential
