Single-Story Corner
For Sale
$1,975,000
204 Springfield Avenue, Huntington Beach, CA 92648
Single-story corner-lot triplex with three updated homes, each offering private yard space, laundry, and a one-car garage.
Property Size2,639 SF
Lot Size0.17 Acres
Days on Market90
Property Features for 204 Springfield Avenue
General Information
Standard status
Active
Size
2,639 SF
Total Parking Spaces
3
Lot size
0.17 Acres
Property subtype
Triplex
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Building Size
2,639 SF
Year Built
1975
Stories
1
Tenancy
Multi
Listing Agency:
Baytown Realty
Listed By:
Shana Klisanin · License #01196063
(310) 867-0142
Source:
Velocityrealtysd
Added: Jun 8
Changed: Aug 28
Last Checked: Sep 5 at 8:05AM
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 Baytown Realty
Investment Insights
Based on property information with market context.
This single-story corner-lot triplex includes three separate residences, each with its own expansive private yard with wraparound outdoor space. Updates completed over the past few years feature new ductless heating and air conditioning, luxury vinyl plank flooring, recessed lighting, interior paint, quartz countertops, and stainless steel appliances. Interior highlights include vaulted ceilings, and Unit A also includes a fireplace and transom windows that bring in natural light. Each unit has its own private laundry and a one-car garage.
The property is located in a Huntington Beach rental enclave and is positioned just moments from Lake Park, with a quick bike ride to the beach. Walk score information indicates the area is more car-dependent, with some transit access.
With three independent homes on a single lot and recent interior and mechanical upgrades, the asset is presented as a turnkey residential income property.
The property is located in a Huntington Beach rental enclave and is positioned just moments from Lake Park, with a quick bike ride to the beach. Walk score information indicates the area is more car-dependent, with some transit access.
With three independent homes on a single lot and recent interior and mechanical upgrades, the asset is presented as a turnkey residential income property.
Key Highlights
- 1975 single‑story corner‑lot triplex on a 7,405 SF lot with three units.
- Each unit has an expansive private yard wrapping the corner location and includes one‑car garage parking.
- Updates within the past few years include new ductless heating and air conditioning, interior paint, recessed lighting, and luxury vinyl plank flooring.
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
$61,674
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
3.12%
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%
$1,233,480
$1.2M
Cap Rate 7%
$881,057
$881.1K
Cap Rate 9%
$685,267
$685.3K
Market Conditions
NOI Build-Up for 2,639 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
$90.3K $34.20/SF
− Vacancy
−$2.1K −$0.81/SF
EGI
$88.1K $33.39/SF
− OpEx
−$26.4K −$10.02/SF
NOI
$61.7K $23.37/SF
Area
Huntington Beach, CA
Vacancy
2.38%
Lease Rate
$34.20 /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%
$1,233,480
Cap Rate 7%
$881,057
Cap Rate 9%
$685,267
Alternative Uses
Best Use
Multifamily LT 5
$881.1K
$770.9K – $1.03M
NOI $61,674 @ 7.0% cap · market cap 3.12%
Second Best
Apartment 5plus
$812.7K
$711.1K – $948.2K
NOI $56,890 @ 7.0% cap · market cap 2.88%
Theoretical Best
Specialty Retail
$912.0K
$798.0K – $1.06M
NOI $63,843 @ 7.0% cap · market cap 3.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,803
Businesses Nearby
Explore this area
Business Placement
Demographics for 92648, CA
46,691
Population
21,609
Households
2.2
Avg Household Size
44
Median Age
51%
College-Educated
95%
High-School Grad
8.0 sq mi
ZIP Area
5,836
Density / Sq Mi
$118,993
Median Household Income
$73,049
Median Earnings
$2,324
Median Rent
$1,176,000
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?
Triplex - Single-story corner-lot triplex with three updated homes, each offering private yard space, laundry, and a one-car garage.
Where is this triplex located?
The property is located at 204 Springfield Avenue Huntington Beach, CA.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: 1975 single‑story corner‑lot triplex on a 7,405 SF lot with three units.; Each unit has an expansive private yard wrapping the corner location and includes one‑car garage parking.; Updates within the past few years include new ductless heating and air conditioning, interior paint, recessed lighting, and luxury vinyl plank flooring.
