Azusa Multifamily Investment
For Sale
$1,650,000
217 S Vernon, Azusa, CA 91702
Five-unit apartment building on a large lot in Azusa.
Property Size4,714 SF
Lot Size0.38 Acres
Price / SF$350.02
Days on Market140
Property Features for 217 S Vernon
General Information
Standard status
Active
Size
4,714 SF
Lot size
0.38 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,434
Building Details
Building Size
4,714 SF
Year Built
1964
Units
5
Listing Agency:
TREC HOMES INC.
(626) 840-5239
Listed By:
Roger Felix · License #01302635
(626) 840-5239
Source:
Elliman
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 8 at 4:33AM
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 TREC HOMES INC.
Investment Insights
Based on property information with market context.
This multifamily property at 217 S Vernon Ave in Azusa presents an investment opportunity. Constructed in 1964, the building features 5 units and offers approximately 4,714 square feet of living space on a 0.38-acre lot. The property's location provides convenient access to shopping, schools, public transportation, and major freeways, potentially enhancing its appeal to tenants and supporting long-term rental demand.
Key Highlights
- Multifamily investment property with strong income potential.
- Value‑add opportunity for investors.
- Large 0.38‑acre lot.
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
$75,852
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
4.60%
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%
$1,517,040
$1.5M
Cap Rate 7%
$1,083,600
$1.1M
Cap Rate 9%
$842,800
$842.8K
Market Conditions
NOI Build-Up for 4,714 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
$149.9K $31.80/SF
− Vacancy
−$12.0K −$2.54/SF
EGI
$137.9K $29.26/SF
− OpEx
−$62.1K −$13.17/SF
NOI
$75.9K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /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%
$1,517,040
Cap Rate 7%
$1,083,600
Cap Rate 9%
$842,800
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$948.2K – $1.26M
NOI $75,852 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,670 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 91702, CA
62,328
Population
18,218
Households
3.4
Avg Household Size
34
Median Age
24%
College-Educated
78%
High-School Grad
65.0 sq mi
ZIP Area
959
Density / Sq Mi
$87,577
Median Household Income
$35,714
Median Earnings
$1,847
Median Rent
$604,600
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?
Apartment building - Five-unit apartment building on a large lot in Azusa.
Where is this apartment building located?
The property is located at 217 S Vernon Azusa, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Multifamily investment property with strong income potential.; Value‑add opportunity for investors.; Large 0.38‑acre lot.
