Mid-Century Duplex with Detached Second
For Sale
$525,000
Pending
18969 Pachappa Road, Apple Valley, CA 92307
Apple Valley, CA
Property Size2,718 SF
Lot Size0.61 Acres
Days on Market59
Property Features for 18969 Pachappa Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 4, Bedroom 2, Bathroom 2, Laundry Room, Bedroom 3, Bathroom 4, Bedroom 5
Parking
2
Pool private
1
Fireplace
1
Lot features
Lot 20000-39999 Sqft
Elementary school district
Apple Valley Unified
Middle school district
Apple Valley Unified
High school district
Apple Valley Unified
Directions
I15 North exit Hwy 18, north Corwin Road, North Tao Road, east on Pachappa, PIQ on right side
Subdivision
APPV - Apple Valley
Standard status
Pending
APN
0473211160000
Size
2,718 SF
Lot size
0.61 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
enclosed interior atrium
brick fireplace
pool
built-in desk
mudroom
interior laundry room
half bath
built-in tile shower
makeup vanity
large windows
oversized sliding glass doors
rock scape
small landscaped lawn
Building Details
Year built
1961
Floors in Building
1
Number of units
2
Architectural style
Modern
Listing Agency:
HOMESMART KEY REALTY
(909) 382-1934
Listed By:
Cynthia Vanover · License #01792364
(760) 265-5707
Added: Jun 25
Changed: Aug 20
Last Checked: Aug 22 at 11:06AM
MLS# CV26139411
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1961, this 2,718-square-foot modern property combines a vintage primary residence with a detached two-bedroom second home. The main home features an enclosed interior atrium, clerestory windows, wood beams, extensive glass, multi-level living areas, built-in storage, a brick fireplace, kitchen pass-throughs, a mudroom, interior laundry, and a primary suite with pool views. Central heating and central air serve the property.
The detached residence includes two bedrooms, one full bathroom, a kitchen, private entry, separate driveway, finished two-car garage, and its own electric meter. Outdoor improvements include a fenced private in-ground pool, three-car carport, concrete surfaces, rock landscaping, and a small lawn. The property occupies 0.6107 acres and is served by public water and public sewer.
The detached residence includes two bedrooms, one full bathroom, a kitchen, private entry, separate driveway, finished two-car garage, and its own electric meter. Outdoor improvements include a fenced private in-ground pool, three-car carport, concrete surfaces, rock landscaping, and a small lawn. The property occupies 0.6107 acres and is served by public water and public sewer.
Key Highlights
- Detached 2‑bedroom second home with kitchen, private entry, separate driveway, finished 2‑car garage, and its own electric meter
- 2,718 square feet on a 0.6107‑acre lot
- 1961‑built modern architecture with enclosed atrium, clerestory windows, wood beams, and extensive glass
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
$27,718
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
5.28%
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%
$554,360
$554.4K
Cap Rate 7%
$395,971
$396.0K
Cap Rate 9%
$307,978
$308.0K
Market Conditions
NOI Build-Up for 2,718 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
$42.1K $15.48/SF
− Vacancy
−$2.5K −$0.91/SF
EGI
$39.6K $14.57/SF
− OpEx
−$11.9K −$4.37/SF
NOI
$27.7K $10.20/SF
Area
San Bernardino County, CA
Vacancy
5.89%
Lease Rate
$15.48 /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%
$554,360
Cap Rate 7%
$395,971
Cap Rate 9%
$307,978
Alternative Uses
Best Use
Multifamily LT 5
$396.0K
$346.5K – $462.0K
NOI $27,718 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$343.7K
$300.8K – $401.0K
NOI $24,062 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$573.3K
$501.7K – $668.9K
NOI $40,133 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 92307, CA
41,649
Population
13,832
Households
3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
187.5 sq mi
ZIP Area
222
Density / Sq Mi
$74,715
Median Household Income
$39,014
Median Earnings
$1,379
Median Rent
$396,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Vintage modern property with a private two-bedroom residence, pool, separate driveway, and independent electric meter.
Where is this duplex located?
The property is located at 18969 Pachappa Road Apple Valley, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Detached 2‑bedroom second home with kitchen, private entry, separate driveway, finished 2‑car garage, and its own electric meter; 2,718 square feet on a 0.6107‑acre lot; 1961‑built modern architecture with enclosed atrium, clerestory windows, wood beams, and extensive glass
