Detached Duplex With Two
For Sale
$570,000
2165 Sepulveda, San Bernardino, CA 92404
Two detached residences offer flexible occupancy, separate gas and electric meters, and recent updates to both units.
Property Size1,715 SF
Days on Market157
Property Features for 2165 Sepulveda
General Information
Standard status
Active
Size
1,715 SF
Property subtype
Duplex
Additional Details
Utilities to Site
Yes
Building Details
Building Size
1,715 SF
Year Built
1926
Buildings
2
Tenancy
Multi
Listing Agency:
ALTICORE REALTY
Listed By:
ALFREDO CORDOVA · License #01515008
(951) 563-4500
Source:
Camdenmckayre
Added: Apr 14
Changed: Sep 15
Last Checked: Sep 15 at 10:04AM
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 ALTICORE REALTY
Investment Insights
Based on property information with market context.
This duplex property at 2165 Sepulveda includes two detached single-family homes on one lot. The front residence offers 3 bedrooms, 1 bathroom, and approximately 1,120 square feet; it was partially updated within the past year and is currently available for viewing. The rear residence includes 1 bedroom, 1 bathroom, and approximately 595 square feet, with a full update completed about 3 months ago. Its attached 2-car garage has been converted into additional living space without permits, creating a functional 2-bedroom, 1-bath configuration.
The property was built in 1926 and is located near San Bernardino Medical Center. Separate gas and electric meters serve the homes, while water is shared. Approximately 90% of water, sewer, and trash expenses are currently billed back to tenants. The rear residence is occupied under a month-to-month lease, and the property has a history of long-term tenancy and minimal vacancy.
The property was built in 1926 and is located near San Bernardino Medical Center. Separate gas and electric meters serve the homes, while water is shared. Approximately 90% of water, sewer, and trash expenses are currently billed back to tenants. The rear residence is occupied under a month-to-month lease, and the property has a history of long-term tenancy and minimal vacancy.
Key Highlights
- Two detached single‑family homes on one lot at 2165 Sepulveda, San Bernardino, CA 92404
- Front home: 3 bedrooms, 1 bathroom, approximately 1,120 sq ft; partially updated within the past year
- Rear home: 1 bedroom, 1 bathroom, approximately 595 sq ft; fully updated about 3 months ago
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
$24,505
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
4.30%
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%
$490,100
$490.1K
Cap Rate 7%
$350,071
$350.1K
Cap Rate 9%
$272,278
$272.3K
Market Conditions
NOI Build-Up for 1,715 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
$37.0K $21.60/SF
− Vacancy
−$2.0K −$1.19/SF
EGI
$35.0K $20.41/SF
− OpEx
−$10.5K −$6.12/SF
NOI
$24.5K $14.29/SF
Area
San Bernardino, CA
Vacancy
5.50%
Lease Rate
$21.60 /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%
$490,100
Cap Rate 7%
$350,071
Cap Rate 9%
$272,278
Alternative Uses
Best Use
Multifamily LT 5
$350.1K
$306.3K – $408.4K
NOI $24,505 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$314.2K
$275.0K – $366.6K
NOI $21,997 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$516.5K
$451.9K – $602.6K
NOI $36,155 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,612
Businesses Nearby
Explore this area
Business Placement
Demographics for 92404, CA
64,270
Population
19,403
Households
3.3
Avg Household Size
31
Median Age
10%
College-Educated
72%
High-School Grad
31.6 sq mi
ZIP Area
2,034
Density / Sq Mi
$66,173
Median Household Income
$36,237
Median Earnings
$1,386
Median Rent
$383,700
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?
Duplex - Two detached residences offer flexible occupancy, separate gas and electric meters, and recent updates to both units.
Where is this duplex located?
The property is located at 2165 Sepulveda San Bernardino, CA.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Two detached single‑family homes on one lot at 2165 Sepulveda, San Bernardino, CA 92404; Front home: 3 bedrooms, 1 bathroom, approximately 1,120 sq ft; partially updated within the past year; Rear home: 1 bedroom, 1 bathroom, approximately 595 sq ft; fully updated about 3 months ago
