Income Producing Multifamily
For Sale
$1,475,000
24379 Myers Ave, Moreno Valley, CA 92553
Four single-family residences with ADU potential in Moreno Valley.
Property Size5,000 SF
Days on Market148
Property Features for 24379 Myers Ave
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Investment
Building Details
Building Size
5,000 SF
Year Built
1959
Stories
1
Units
4
Listing Agency:
ALTICORE REALTY
Listed By:
BLANCA ALVAREZ · License #01801789
(909) 606-0888
Source:
Elliman
Added: May 20
Changed: Oct 2
Last Checked: Oct 12 at 7:42PM
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 income-producing property features four single-family residences. The front home includes 4 bedrooms and 2 bathrooms, while the three other homes each offer 3 bedrooms and 1 bathroom. Each residence has its own electrical and gas meter. All units share a single water bill. The property's zoning permits up to a total of 13 units, and each of the four homes is capable of having its own Accessory Dwelling Unit (ADU) along with a Junior ADU. Located in Moreno Valley, California, this property presents limitless potential.
Key Highlights
- Income‑producing property with 4 single‑family residences.
- Potential to build up to 13 units total (ADUs and Jr. ADUs).
- Each residence has its own electrical and gas meter.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,231
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,684,620
$1.7M
Cap Rate 7%
$1,203,300
$1.2M
Cap Rate 9%
$935,900
$935.9K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$126.0K $25.20/SF
− Vacancy
−$5.7K −$1.13/SF
EGI
$120.3K $24.07/SF
− OpEx
−$36.1K −$7.22/SF
NOI
$84.2K $16.85/SF
Area
Moreno Valley, CA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,684,620
Cap Rate 7%
$1,203,300
Cap Rate 9%
$935,900
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,231 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$1.08M
$948.4K – $1.26M
NOI $75,874 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,950 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,380
Businesses Nearby
Explore this area
Business Placement
Demographics for 92553, CA
76,761
Population
20,175
Households
3.8
Avg Household Size
30
Median Age
13%
College-Educated
74%
High-School Grad
10.3 sq mi
ZIP Area
7,453
Density / Sq Mi
$71,344
Median Household Income
$36,525
Median Earnings
$1,892
Median Rent
$413,000
Median Home Value
Check the figures for this property
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?
Quadplex - Four single-family residences with ADU potential in Moreno Valley.
Where is this quadplex located?
The property is located at 24379 Myers Ave Moreno Valley, CA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Income‑producing property with 4 single‑family residences.; Potential to build up to 13 units total (ADUs and Jr. ADUs).; Each residence has its own electrical and gas meter.
