Four-Unit Property with
For Sale
$717,000
21250 Santa Maria Court, Tehachapi, CA 93561
Residential Income, Tehachapi, CA
Property Size4,238 SF
Lot Size0.29 Acres
Price / SF$169.18
Days on Market11
Property Features for 21250 Santa Maria Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
12
Parking features
Garage
Elementary school
Golden Hills
Middle school
Jacobsen
High school
Tehachapi
Subdivision
80
Standard status
Active
APN
46806216
Size
4,238 SF
Lot size
0.29 Acres
Amenities
on-site laundry hookups
private patios
Building Details
Year built
1983
Floors in Building
2
Number of units
4
Listing Agency:
Watson Realty
(661) 327-5161
Listed By:
Candis Parke-Thomas · License #00950582
(661) 869-4576
Added: Sep 8
Changed: Sep 17
Last Checked: Sep 18 at 6:06AM
MLS# 202609790
Copyright © 2026 Golden Empire MLS, 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 1983, this 4,238-square-foot quadplex contains three 2BR/1 BTH units and one 3BR/1 BTH unit. The property sits on a 13,000-square-foot lot and is fully occupied. Unit features include spacious floor plans and private patios, while second-level residences offer mountain views.
The property includes a 2-car garage, additional tenant and guest parking, and on-site laundry hookups. Located in Tehachapi near an elementary school, shopping, and dining, the asset provides four residential units within an established multifamily configuration.
The property includes a 2-car garage, additional tenant and guest parking, and on-site laundry hookups. Located in Tehachapi near an elementary school, shopping, and dining, the asset provides four residential units within an established multifamily configuration.
Key Highlights
- Four units: three 2BR/1 BTH residences and one 3BR/1 BTH residence
- 4,238 square feet on a 13,000‑square‑foot lot
- Fully occupied quadplex built in 1983
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
$52,898
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
7.38%
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%
$1,057,960
$1.1M
Cap Rate 7%
$755,686
$755.7K
Cap Rate 9%
$587,756
$587.8K
Market Conditions
NOI Build-Up for 4,238 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
$77.8K $18.36/SF
− Vacancy
−$2.2K −$0.53/SF
EGI
$75.6K $17.83/SF
− OpEx
−$22.7K −$5.35/SF
NOI
$52.9K $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%
$1,057,960
Cap Rate 7%
$755,686
Cap Rate 9%
$587,756
Alternative Uses
Best Use
Multifamily LT 5
$755.7K
$661.2K – $881.6K
NOI $52,898 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$697.5K
$610.3K – $813.7K
NOI $48,822 @ 7.0% cap · market cap 6.81%
Theoretical Best
Warehouse
$905.4K
$792.2K – $1.06M
NOI $63,375 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
432
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied quadplex with varied unit layouts, private patios, tenant parking, and on-site laundry hookups.
Where is this quadplex located?
The property is located at 21250 Santa Maria Court Tehachapi, CA.
What is the asking price?
The asking price for this property is $717,000.
What are key features of this property?
This property features: Four units: three 2BR/1 BTH residences and one 3BR/1 BTH residence; 4,238 square feet on a 13,000‑square‑foot lot; Fully occupied quadplex built in 1983
