Quadplex with 1924 Main
For Sale
$980,000
Pending
1717 Massachusetts, San Bernardino, CA 92411
1924 main house plus three additional units on two combined lots totaling about 40,000 sq. ft.
Property Size2,186 SF
Lot Size0.92 Acres
Days on Market49
Property Features for 1717 Massachusetts
General Information
Standard status
Pending
Size
2,186 SF
Lot size
0.92 Acres
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Building Size
2,186 SF
Year Built
1924
Stories
1
Units
4
Listed By:
LAURA LEWIN
(951) 961-7652
Source:
Elliman
Added: Jul 19
Changed: Aug 14
Last Checked: Sep 5 at 7:41AM
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 LAURA LEWIN
Investment Insights
Based on property information with market context.
This quadplex-style income property includes a charming 1924 main house with 4 bedrooms, 1 full bathroom, and a spacious living room, along with three additional units. The property is being sold together with an additional lot, providing combined land area of approximately 40,000 sq. ft. Buyers can consider it as a multi-unit rental arrangement with owner-occupant possibilities, with any future development questions to be verified by the buyer.
The property is described as conveniently located near schools, shopping, restaurants, parks, and major freeways. Transportation and walkability metrics provided for the area include a BikeScore of 52, a WalkScore of 66, and a transit score of 44.
The overall setup offers a vintage main residence configuration paired with three other rentable units, supported by ample land across two lots.
The property is described as conveniently located near schools, shopping, restaurants, parks, and major freeways. Transportation and walkability metrics provided for the area include a BikeScore of 52, a WalkScore of 66, and a transit score of 44.
The overall setup offers a vintage main residence configuration paired with three other rentable units, supported by ample land across two lots.
Key Highlights
- 1924 main house with 4 bedrooms and 1 full bathroom
- Additional three units on the same property for an income‑producing multi‑unit setup
- Two combined lots totaling about 40,000 sq. ft. of land (20,000 sq. ft. each lot)
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
$31,234
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
3.19%
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%
$624,680
$624.7K
Cap Rate 7%
$446,200
$446.2K
Cap Rate 9%
$347,044
$347.0K
Market Conditions
NOI Build-Up for 2,186 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
$47.2K $21.60/SF
− Vacancy
−$2.6K −$1.19/SF
EGI
$44.6K $20.41/SF
− OpEx
−$13.4K −$6.12/SF
NOI
$31.2K $14.29/SF
Area
San Bernardino, CA
Vacancy
5.50%
Lease Rate
$21.60 /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%
$624,680
Cap Rate 7%
$446,200
Cap Rate 9%
$347,044
Alternative Uses
Best Use
Multifamily LT 5
$446.2K
$390.4K – $520.6K
NOI $31,234 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$400.6K
$350.5K – $467.3K
NOI $28,039 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$658.3K
$576.1K – $768.1K
NOI $46,084 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Explore this area
Business Placement
Demographics for 92411, CA
27,014
Population
7,065
Households
3.8
Avg Household Size
30
Median Age
7%
College-Educated
65%
High-School Grad
4.7 sq mi
ZIP Area
5,748
Density / Sq Mi
$55,457
Median Household Income
$31,320
Median Earnings
$1,355
Median Rent
$318,500
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 - 1924 main house plus three additional units on two combined lots totaling about 40,000 sq. ft.
Where is this quadplex located?
The property is located at 1717 Massachusetts San Bernardino, CA.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 1924 main house with 4 bedrooms and 1 full bathroom; Additional three units on the same property for an income‑producing multi‑unit setup; Two combined lots totaling about 40,000 sq. ft. of land (20,000 sq. ft. each lot)
