Four-Unit Apartment
For Sale
$710,000
21247 Madre, Tehachapi, CA 93561
Multi-unit residential property with two-bedroom layouts, individual kitchens, and dedicated garage parking.
Property Size3,317 SF
Price / SF$214.05
Days on Market11
Property Features for 21247 Madre
General Information
Standard status
Active
Size
3,317 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Building Details
Buildings
1
Listing Agency:
Country Real Estate
(661) 822-9093
Listed By:
Teresa A. Juergens
(661) 821-2053
Source:
Exprealty
Added: Aug 26
Changed: Sep 4
Last Checked: Sep 4 at 3:28PM
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 Country Real Estate
Investment Insights
Based on property information with market context.
This four-unit residential property contains 3,317 square feet and offers a consistent layout across the building. Each apartment includes two bedrooms, one bathroom, a kitchen, and a single-car garage for dedicated parking. The configuration provides separate living spaces with comparable features throughout the property.
Located at 21247 Madre in Tehachapi, California, the property is positioned in the 93561 area. Its four-apartment layout and on-site garage parking create a straightforward multifamily configuration for residential income ownership.
Located at 21247 Madre in Tehachapi, California, the property is positioned in the 93561 area. Its four-apartment layout and on-site garage parking create a straightforward multifamily configuration for residential income ownership.
Key Highlights
- Four residential units, each with 2 bedrooms and 1 bathroom
- 3,317‑square‑foot multifamily property
- Each unit includes a functional kitchen
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
$41,402
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
5.83%
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%
$828,040
$828.0K
Cap Rate 7%
$591,457
$591.5K
Cap Rate 9%
$460,022
$460.0K
Market Conditions
NOI Build-Up for 3,317 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
$60.9K $18.36/SF
− Vacancy
−$1.8K −$0.53/SF
EGI
$59.1K $17.83/SF
− OpEx
−$17.7K −$5.35/SF
NOI
$41.4K $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%
$828,040
Cap Rate 7%
$591,457
Cap Rate 9%
$460,022
Alternative Uses
Best Use
Multifamily LT 5
$591.5K
$517.5K – $690.0K
NOI $41,402 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$545.9K
$477.7K – $636.9K
NOI $38,212 @ 7.0% cap · market cap 5.38%
Theoretical Best
Warehouse
$708.6K
$620.0K – $826.7K
NOI $49,602 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 93561, CA
31,091
Population
13,876
Households
2.2
Avg Household Size
42
Median Age
28%
College-Educated
92%
High-School Grad
301.8 sq mi
ZIP Area
103
Density / Sq Mi
$86,149
Median Household Income
$52,088
Median Earnings
$1,299
Median Rent
$377,400
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?
Quadplex - Multi-unit residential property with two-bedroom layouts, individual kitchens, and dedicated garage parking.
Where is this quadplex located?
The property is located at 21247 Madre Tehachapi, CA.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 1 bathroom; 3,317‑square‑foot multifamily property; Each unit includes a functional kitchen
