Corner-Lot Duplex with Private
For Sale
$595,000
2402 W 1st, San Bernardino, CA 92407
Two side-by-side residences provide separate outdoor areas and flexible occupancy options.
Property Size1,353 SF
Days on Market27
Property Features for 2402 W 1st
General Information
Standard status
Active
Size
1,353 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA + bonus room, 1 x 1BR/1BA
Multifamily Units
2
Amenities
private backyard patio
Building Details
Building Size
1,353 SF
Year Built
1958
Buildings
1
Listing Agency:
Re/Max Top Producers
Listed By:
Jesse Reyes · License #01507176
Source:
Camdenmckayre
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 31 at 12:08AM
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 Re/Max Top Producers
Investment Insights
Based on property information with market context.
This duplex includes two side-by-side residences: one two-bedroom, one-bath home with a bonus room and one one-bedroom, one-bath home. Each residence has a private backyard patio, with the outdoor areas divided by new wrought-iron fencing and block walls. Recent improvements include fresh interior and exterior paint, dual-pane windows, a newer roof, recessed lighting, ceiling fans, brand-new water heaters, and newly constructed privacy block walls.
The property occupies a corner lot in Muscoy, with access to the 210 Freeway, shopping, schools, public transportation, and nearby equestrian trails. The two-residence layout can support living in one unit while leasing the other, or leasing both units, subject to applicable requirements. Built in 1958, the property also offers outdoor space for each residence.
The property occupies a corner lot in Muscoy, with access to the 210 Freeway, shopping, schools, public transportation, and nearby equestrian trails. The two-residence layout can support living in one unit while leasing the other, or leasing both units, subject to applicable requirements. Built in 1958, the property also offers outdoor space for each residence.
Key Highlights
- Two side‑by‑side residences with 2‑bedroom/1‑bath and 1‑bedroom/1‑bath layouts
- 2‑bedroom unit includes a bonus room
- Private backyard patio for each residence
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
$19,332
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
3.25%
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%
$386,640
$386.6K
Cap Rate 7%
$276,171
$276.2K
Cap Rate 9%
$214,800
$214.8K
Market Conditions
NOI Build-Up for 1,353 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
$29.2K $21.60/SF
− Vacancy
−$1.6K −$1.19/SF
EGI
$27.6K $20.41/SF
− OpEx
−$8.3K −$6.12/SF
NOI
$19.3K $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%
$386,640
Cap Rate 7%
$276,171
Cap Rate 9%
$214,800
Alternative Uses
Best Use
Multifamily LT 5
$276.2K
$241.7K – $322.2K
NOI $19,332 @ 7.0% cap · market cap 3.25%
Second Best
Apartment 5plus
$247.9K
$216.9K – $289.2K
NOI $17,354 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$407.5K
$356.5K – $475.4K
NOI $28,523 @ 7.0% cap · market cap 4.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 92407, CA
67,814
Population
19,029
Households
3.6
Avg Household Size
31
Median Age
19%
College-Educated
78%
High-School Grad
81.7 sq mi
ZIP Area
830
Density / Sq Mi
$83,662
Median Household Income
$38,967
Median Earnings
$1,771
Median Rent
$473,200
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?
Duplex - Two side-by-side residences provide separate outdoor areas and flexible occupancy options.
Where is this duplex located?
The property is located at 2402 W 1st San Bernardino, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two side‑by‑side residences with 2‑bedroom/1‑bath and 1‑bedroom/1‑bath layouts; 2‑bedroom unit includes a bonus room; Private backyard patio for each residence
