Four-Unit Residential
New
For Sale
$829,000
21107 Nemophilia Street 1-4, California City, CA 93505
Four two-bedroom residences each include a kitchen and living area, with on-site laundry and rear parking.
Property Size3,130 SF
Price / SF$264.86
Days on Market4
Property Features for 21107 Nemophilia Street 1-4
General Information
Standard status
Active
Size
3,130 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
open parking
laundry on premises
Building Details
Year Built
1985
Listing Agency:
The Real Estate Place
Listed By:
Erika Rubio · License #02012011
(661) 718-9106
Source:
Jessicadixonrealty
Added: Sep 28
Last Checked: Sep 30 at 5:19PM
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 The Real Estate Place
Investment Insights
Based on property information with market context.
This residential income property contains four separate units, each arranged with two bedrooms and one bathroom. Kitchens and living areas are included in every residence, and the building provides approximately 3,130 square feet of total living space. The roof was installed in 2004, and laundry facilities are on site.
Open parking is available behind the building. The property is located near local shopping, services, and major roadways in California City.
Open parking is available behind the building. The property is located near local shopping, services, and major roadways in California City.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- Approximately 3,130 square feet of total living space
- Kitchen and living area in each 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
$39,068
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
4.71%
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%
$781,360
$781.4K
Cap Rate 7%
$558,114
$558.1K
Cap Rate 9%
$434,089
$434.1K
Market Conditions
NOI Build-Up for 3,130 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
$57.5K $18.36/SF
− Vacancy
−$1.7K −$0.53/SF
EGI
$55.8K $17.83/SF
− OpEx
−$16.7K −$5.35/SF
NOI
$39.1K $12.48/SF
Area
Kern County, CA
Vacancy
2.88%
Lease Rate
$18.36 /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%
$781,360
Cap Rate 7%
$558,114
Cap Rate 9%
$434,089
Alternative Uses
Best Use
Multifamily LT 5
$558.1K
$488.4K – $651.1K
NOI $39,068 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$515.1K
$450.7K – $601.0K
NOI $36,058 @ 7.0% cap · market cap 4.35%
Theoretical Best
Warehouse
$668.7K
$585.1K – $780.1K
NOI $46,806 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 93505, CA
14,880
Population
5,352
Households
2.8
Avg Household Size
35
Median Age
11%
College-Educated
79%
High-School Grad
65.0 sq mi
ZIP Area
229
Density / Sq Mi
$55,010
Median Household Income
$32,590
Median Earnings
$1,016
Median Rent
$239,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences each include a kitchen and living area, with on-site laundry and rear parking.
Where is this quadplex located?
The property is located at 21107 Nemophilia Street 1-4 California City, CA.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; Approximately 3,130 square feet of total living space; Kitchen and living area in each unit
