Residential Income Property with
For Sale
$299,900
224-3530 Damien Ave, La Verne, CA 91750
Brand-new manufactured residence in a 55+ community with a two-bath layout, full kitchen appliances, and covered parking.
Property Size1,512 SF
Price / SF$198.35
Days on Market71
Property Features for 224-3530 Damien Ave
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Manufactured In Park
Additional Details
Multifamily Units
1
Amenities
clubhouse
pool
spa
Listing Agency:
Janice Lynn Shumaker- Swanson
(909) 927-7028
Listed By:
Judith Shumaker · License #01964722
(909) 437-6670
Source:
Exprealty
Added: Jul 9
Changed: Sep 4
Last Checked: Sep 17 at 12:03AM
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 Janice Lynn Shumaker- Swanson
Investment Insights
Based on property information with market context.
This brand-new Skyline manufactured home at The Fountains offers 1,512 square feet with three bedrooms and two bathrooms. A full front porch leads into a spacious living room connected to the kitchen, which includes a gas oven/range, dishwasher, built-in microwave, and refrigerator. The primary bedroom has an adjoining bathroom with a walk-in shower. Interior features include hard-surface flooring in the living room, kitchen, and hallway, carpeted bedrooms, and a laundry room with full-size washer and dryer hookups. Central A/C and heating provide year-round climate control, while the covered carport adds sheltered parking.
The home is located at 224-3530 Damien Ave in La Verne within The Fountains, a 55+ community with a clubhouse, pool, and spa.
The home is located at 224-3530 Damien Ave in La Verne within The Fountains, a 55+ community with a clubhouse, pool, and spa.
Key Highlights
- 1,512‑square‑foot Skyline manufactured home
- Three bedrooms and two bathrooms
- Full front porch and covered carport
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
$24,329
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
8.11%
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%
$486,580
$486.6K
Cap Rate 7%
$347,557
$347.6K
Cap Rate 9%
$270,322
$270.3K
Market Conditions
NOI Build-Up for 1,512 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
$48.1K $31.80/SF
− Vacancy
−$3.8K −$2.54/SF
EGI
$44.2K $29.26/SF
− OpEx
−$19.9K −$13.17/SF
NOI
$24.3K $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%
$486,580
Cap Rate 7%
$347,557
Cap Rate 9%
$270,322
Alternative Uses
Best Use
Apartment 5plus
$347.6K
$304.1K – $405.5K
NOI $24,329 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$809.5K
$708.3K – $944.4K
NOI $56,666 @ 7.0% cap · market cap 18.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Explore this area
Business Placement
Demographics for 91750, CA
33,376
Population
12,928
Households
2.6
Avg Household Size
46
Median Age
41%
College-Educated
93%
High-School Grad
18.5 sq mi
ZIP Area
1,804
Density / Sq Mi
$104,827
Median Household Income
$56,417
Median Earnings
$2,217
Median Rent
$789,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Brand-new manufactured residence in a 55+ community with a two-bath layout, full kitchen appliances, and covered parking.
Where is this residential income property located?
The property is located at 224-3530 Damien Ave La Verne, CA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,512‑square‑foot Skyline manufactured home; Three bedrooms and two bathrooms; Full front porch and covered carport
