Updated Fully Leased
For Sale
$659,000
184 E 9th, San Bernardino, CA 92410
Three residential units with on-site parking, controlled access, laundry facilities, and included kitchen appliances.
Property Size1,495 SF
Days on Market12
Property Features for 184 E 9th
General Information
Standard status
Active
Size
1,495 SF
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$58,080
Amenities
security gate
high-tech security system
on-site coin operated laundry
Building Details
Building Size
1,495 SF
Year Built
1952
Tenancy
Multi
Listing Agency:
Dynasty Real Estate
Listed By:
Renato Mendez · License #01927597
Source:
Camdenmckayre
Added: Aug 18
Changed: Aug 23
Last Checked: Aug 28 at 6:36PM
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 Dynasty Real Estate
Investment Insights
Based on property information with market context.
This triplex contains three fully leased one-bedroom, one-bath residences in updated condition. Built in 1952, the property includes two units within the main building and a detached third unit. Unit 2 has an attached patio, while each residence is equipped with a refrigerator, gas stove, and range-hood microwave.
Property amenities include on-site parking, a security gate, and a high-tech security system. Coin-operated laundry is available on the premises for tenant use. Located at 184 E 9th in San Bernardino, California, the property offers an established residential configuration with all three units occupied. The sale is offered in its current as-is condition, and showings are subject to arrangements that avoid disturbing occupants.
Property amenities include on-site parking, a security gate, and a high-tech security system. Coin-operated laundry is available on the premises for tenant use. Located at 184 E 9th in San Bernardino, California, the property offers an established residential configuration with all three units occupied. The sale is offered in its current as-is condition, and showings are subject to arrangements that avoid disturbing occupants.
Key Highlights
- Three fully leased 1‑bedroom, 1‑bath units
- Updated triplex built in 1952
- Unit 3 is a detached residence; Unit 2 includes an attached patio
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
$21,361
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
3.24%
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%
$427,220
$427.2K
Cap Rate 7%
$305,157
$305.2K
Cap Rate 9%
$237,344
$237.3K
Market Conditions
NOI Build-Up for 1,495 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
$32.3K $21.60/SF
− Vacancy
−$1.8K −$1.19/SF
EGI
$30.5K $20.41/SF
− OpEx
−$9.2K −$6.12/SF
NOI
$21.4K $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%
$427,220
Cap Rate 7%
$305,157
Cap Rate 9%
$237,344
Alternative Uses
Best Use
Multifamily LT 5
$305.2K
$267.0K – $356.0K
NOI $21,361 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$273.9K
$239.7K – $319.6K
NOI $19,176 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$450.2K
$394.0K – $525.3K
NOI $31,517 @ 7.0% cap · market cap 4.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,554
Businesses Nearby
Explore this area
Business Placement
Demographics for 92410, CA
51,651
Population
14,325
Households
3.6
Avg Household Size
30
Median Age
6%
College-Educated
66%
High-School Grad
8.2 sq mi
ZIP Area
6,299
Density / Sq Mi
$53,390
Median Household Income
$32,474
Median Earnings
$1,303
Median Rent
$273,700
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?
Triplex - Three residential units with on-site parking, controlled access, laundry facilities, and included kitchen appliances.
Where is this triplex located?
The property is located at 184 E 9th San Bernardino, CA.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Three fully leased 1‑bedroom, 1‑bath units; Updated triplex built in 1952; Unit 3 is a detached residence; Unit 2 includes an attached patio
