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 Market103
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
(909) 606-0888
Listed By:
BLANCA ALVAREZ · License #01801789
(909) 606-0888
Source:
Elliman
Added: May 20
Changed: Aug 23
Last Checked: Aug 29 at 10:26AM
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 = 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
$84,231
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
5.71%
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%
$1,684,620
$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
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
$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 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%
$1,684,620
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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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.
