Refurbished Triplex on Large
For Sale
$599,000
Pending
21483 Main St, Barstow, CA 92311
Recently refurbished triplex with three units on 11.5 acres.
Property Size6,000 SF
Lot Size11.50 Acres
Days on Market166
Property Features for 21483 Main St
General Information
Standard status
Pending
Size
6,000 SF
Lot size
11.50 Acres
Property subtype
Investment
Building Details
Building Size
6,000 SF
Year Built
1949
Stories
1
Units
3
Listing Agency:
(760) 256-1010
Listed By:
Barbara Krommenhoek
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Jul 23 at 11:00AM
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 Barbara Krommenhoek
Investment Insights
Based on property information with market context.
This recently refurbished property features fresh interior paint, new electric and plumbing, and new kitchen cabinets and countertops. New bathroom fixtures, doors, lights, outlets, switches and covers, window blinds, and vinyl plank floors have been installed. The property consists of three units totaling approximately 6000 square feet on an 11.5-acre lot. Located on Main Street, 5.8 miles west of Lenwood Road, the property includes a large duplex at the front. Unit A on the east side of the duplex has 4 bedrooms, 2 bathrooms, and two large bonus rooms suitable for formal dining, offices, homeschool rooms, or game rooms. Unit B on the west side also has 4 bedrooms and 2 bathrooms. A detached house, Unit C, is located in the backyard and contains 3 bedrooms and 2 bathrooms. All units have indoor laundry areas. Two outbuildings on the property could be used for storage or workshop space with some work. The homes are set back from the road, and a long driveway provides ample parking space, including room for RVs. Large trees on the east and west sides of the property offer shade. The property uses a well and septic system. The owner will consider carrying a portion of the purchase price with a large down payment and short-term financing, subject to credit and terms acceptable to the seller.
Key Highlights
- Owner will carry a portion of the purchase price with a large down payment.
- Three units totaling approximately 6000 sq ft on 11.5 acres.
- Recently refurbished with new electric, plumbing, kitchen, bathroom fixtures, flooring, and paint.
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
$53,117
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
8.87%
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%
$1,062,340
$1.1M
Cap Rate 7%
$758,814
$758.8K
Cap Rate 9%
$590,189
$590.2K
Market Conditions
NOI Build-Up for 6,000 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
$103.0K $17.16/SF
− Vacancy
−$6.4K −$1.06/SF
EGI
$96.6K $16.10/SF
− OpEx
−$43.5K −$7.24/SF
NOI
$53.1K $8.85/SF
Area
San Bernardino County, CA
Vacancy
6.20%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
45.00%
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%
$1,062,340
Cap Rate 7%
$758,814
Cap Rate 9%
$590,189
Alternative Uses
Best Use
Multifamily LT 5
$874.1K
$764.8K – $1.02M
NOI $61,187 @ 7.0% cap · market cap 10.21%
Second Best
Apartment 5plus
$758.8K
$664.0K – $885.3K
NOI $53,117 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,593 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 92311, CA
34,524
Population
13,707
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
84%
High-School Grad
424.4 sq mi
ZIP Area
81
Density / Sq Mi
$59,338
Median Household Income
$38,871
Median Earnings
$1,081
Median Rent
$217,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Recently refurbished triplex with three units on 11.5 acres.
Where is this triplex located?
The property is located at 21483 Main St Barstow, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Owner will carry a portion of the purchase price with a large down payment.; Three units totaling approximately 6000 sq ft on 11.5 acres.; Recently refurbished with new electric, plumbing, kitchen, bathroom fixtures, flooring, and paint.
