Newer 5-Unit Townhome
For Sale
$2,200,000
228 N Orange, Rialto, CA 92376
Newer 5-unit townhome-style apartment complex in Rialto, California.
Property Size6,240 SF
Days on Market313
Property Features for 228 N Orange
General Information
Standard status
Active
Size
6,240 SF
Property subtype
Apartment
Building Details
Building Size
6,240 SF
Year Built
2017
Stories
2
Listing Agency:
US National Realty
(626) 926-4880
Listed By:
Paul Siu · License #01221460
(626) 926-4880
Source:
Kw
Added: Oct 25, 2025
Changed: Aug 31
Last Checked: Sep 1 at 4:29PM
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 US National Realty
Investment Insights
Based on property information with market context.
This newer built 5-unit townhome-style apartment complex is located within walking distance of downtown Rialto and near freeway access. Each unit features 3 bedrooms and 2.5 baths, along with a 2-car attached garage providing direct access. In-unit laundry is located on the second level. The property includes tile roofing and private balconies off the master bedrooms. Two of the units are currently used as Airbnb rentals, and another unit will be vacated by the end of October. The property is located in a high-demand rental area.
Key Highlights
- Newer 5‑unit townhome‑style apartment complex.
- Each unit has 3 bedrooms and 2.5 baths.
- Enjoy the convenience of a 2‑car attached garage with direct access for each unit.
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
$78,939
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
3.59%
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%
$1,578,780
$1.6M
Cap Rate 7%
$1,127,700
$1.1M
Cap Rate 9%
$877,100
$877.1K
Market Conditions
NOI Build-Up for 6,240 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
$153.5K $24.60/SF
− Vacancy
−$10.0K −$1.60/SF
EGI
$143.5K $23.00/SF
− OpEx
−$64.6K −$10.35/SF
NOI
$78.9K $12.65/SF
Area
Rialto, CA
Vacancy
6.50%
Lease Rate
$24.60 /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%
$1,578,780
Cap Rate 7%
$1,127,700
Cap Rate 9%
$877,100
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$986.7K – $1.32M
NOI $78,939 @ 7.0% cap · market cap 3.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,360 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
Explore this area
Business Placement
Demographics for 92376, CA
84,548
Population
22,716
Households
3.7
Avg Household Size
32
Median Age
10%
College-Educated
72%
High-School Grad
13.3 sq mi
ZIP Area
6,357
Density / Sq Mi
$76,914
Median Household Income
$36,399
Median Earnings
$1,613
Median Rent
$433,100
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 - Newer 5-unit townhome-style apartment complex in Rialto, California.
Where is this apartment building located?
The property is located at 228 N Orange Rialto, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Newer 5‑unit townhome‑style apartment complex.; Each unit has 3 bedrooms and 2.5 baths.; Enjoy the convenience of a 2‑car attached garage with direct access for each unit.
