Norco Multifamily Investment
For Sale
$799,000
Pending
1652 4th, Norco, CA 92860
Well-maintained four-unit property with commercial zoning and redevelopment potential.
Property Size2,235 SF
Lot Size0.26 Acres
Days on Market192
Property Features for 1652 4th
General Information
Standard status
Pending
Size
2,235 SF
Lot size
0.26 Acres
Property subtype
Investment
Building Details
Building Size
2,235 SF
Year Built
1950
Stories
1
Units
4
Listing Agency:
Re/Max One
Listed By:
Shawn Smithson · License #01706033
(949) 371-5569
Source:
Elliman
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 30 at 3:28PM
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 Re/Max One
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Investment Insights
Based on property information with market context.
Located in Norco, the property at 1652 4th Street is a four-unit investment opportunity situated on an 11,326 sq ft flat lot. The property is zoned CG General Commercial, offering immediate income with future upside. Constructed in 1950, the property features two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. The property includes four garage spaces and approximately 25 total parking spaces. The site layout, flat topography, and surplus parking create opportunities for an investor to increase rents, improve operations, or reposition the property. The General Commercial zoning allows for future redevelopment or mixed-use potential as the area evolves. This property is suitable for an investor seeking stable cash flow with long-term upside through repositioning or land use change in a growing Norco corridor.
Key Highlights
- General commercial zoning allows for future redevelopment or mixed‑use potential.
- Large 11,326 sq ft flat lot with potential for value add.
- Four garage spaces and approximately 25 total parking spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,269
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,380
$785.4K
Cap Rate 7%
$560,986
$561.0K
Cap Rate 9%
$436,322
$436.3K
Market Conditions
NOI Build-Up for 2,235 SF
Gross rent
$57.1K $25.56/SF
− Vacancy
−$1.0K −$0.46/SF
EGI
$56.1K $25.10/SF
− OpEx
−$16.8K −$7.53/SF
NOI
$39.3K $17.57/SF
Area
Riverside County, CA
Vacancy
1.80%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,380
Cap Rate 7%
$560,986
Cap Rate 9%
$436,322
Alternative Uses
Best Use
Multifamily LT 5
$561.0K
$490.9K – $654.5K
NOI $39,269 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$516.8K
$452.2K – $603.0K
NOI $36,177 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$669.6K
$585.9K – $781.2K
NOI $46,870 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 92860, CA
26,376
Population
7,073
Households
3.7
Avg Household Size
41
Median Age
21%
College-Educated
86%
High-School Grad
14.1 sq mi
ZIP Area
1,871
Density / Sq Mi
$125,371
Median Household Income
$49,188
Median Earnings
$1,893
Median Rent
$732,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit property with commercial zoning and redevelopment potential.
Where is this quadplex located?
The property is located at 1652 4th Norco, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: General commercial zoning allows for future redevelopment or mixed‑use potential.; Large 11,326 sq ft flat lot with potential for value add.; Four garage spaces and approximately 25 total parking spaces.
