Gated 4-Unit
For Sale
$850,000
188 E 11th Street 1-4, San Bernardino, CA 92410
Unit layouts include one- and two-bedroom residences with washer/dryer hookups.
Property Size2,922 SF
Days on Market22
Property Features for 188 E 11th Street 1-4
General Information
Standard status
Active
Size
2,922 SF
Property subtype
Quadruplex
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Amenities
washer/dryer hookups
fully gated
gated parking
Building Details
Building Size
2,922 SF
Year Built
1963
Listing Agency:
IRN Realty
(626) 374-5121
Listed By:
Vince Kwon · License #01778421
Source:
Camdenmckayre
Added: Aug 5
Changed: Aug 23
Last Checked: Aug 25 at 11:27AM
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 IRN Realty
Investment Insights
Based on property information with market context.
This 4-unit quadplex, built in 1963, offers a combination of 1-bedroom/1-bathroom and 2-bedroom/2-bathroom residences. Each unit includes washer/dryer hookups, while separate gas and electric meters serve the individual units. The property is fully gated, with secured parking positioned at the rear. Parking spaces have also been repainted.
Located at 188 E 11th Street in San Bernardino, the property provides access to local amenities, transportation hubs, and major thoroughfares. The surrounding area is primarily characterized by single-family residences, providing a residential setting for the multifamily asset.
Located at 188 E 11th Street in San Bernardino, the property provides access to local amenities, transportation hubs, and major thoroughfares. The surrounding area is primarily characterized by single-family residences, providing a residential setting for the multifamily asset.
Key Highlights
- Four‑unit quadplex with 1‑bedroom/1‑bathroom and 2‑bedroom/2‑bathroom layouts
- Built in 1963
- Washer/dryer hookups in every unit
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
$41,751
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
4.91%
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%
$835,020
$835.0K
Cap Rate 7%
$596,443
$596.4K
Cap Rate 9%
$463,900
$463.9K
Market Conditions
NOI Build-Up for 2,922 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
$63.1K $21.60/SF
− Vacancy
−$3.5K −$1.19/SF
EGI
$59.6K $20.41/SF
− OpEx
−$17.9K −$6.12/SF
NOI
$41.8K $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%
$835,020
Cap Rate 7%
$596,443
Cap Rate 9%
$463,900
Alternative Uses
Best Use
Multifamily LT 5
$596.4K
$521.9K – $695.9K
NOI $41,751 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$535.4K
$468.5K – $624.7K
NOI $37,479 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$880.0K
$770.0K – $1.03M
NOI $61,600 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,159
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?
Quadplex - Unit layouts include one- and two-bedroom residences with washer/dryer hookups.
Where is this quadplex located?
The property is located at 188 E 11th Street 1-4 San Bernardino, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four‑unit quadplex with 1‑bedroom/1‑bathroom and 2‑bedroom/2‑bathroom layouts; Built in 1963; Washer/dryer hookups in every unit
