Remodeled Fourplex in Two
For Sale
$585,000
2542 Sea View Drive, Thermal, CA 92274
Residential Income, Thermal, CA
Property Size2,664 SF
Lot Size0.31 Acres
Price / SF$219.59
Days on Market242
Property Features for 2542 Sea View Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 2
Parking
16
Parking features
On Street, Covered, Assigned
View
Lake, Desert, Hills
Subdivision
381 - Salton Sea - Imperial County
Standard status
Active
APN
010 472 018 000
Size
2,664 SF
Lot size
0.31 Acres
Utilities
Heating system
Zoned
Cooling system
Zoned
Amenities
washer and dryer
Building Details
Year built
1975
Floors in Building
1
Number of units
4
Flooring type
Tile - Ceramic
Listing Agency:
Desert Sands Realty
(760) 636-5280
Listed By:
Robbin Ruiz
(760) 641-2837
Added: Jan 28
Changed: Sep 17
Last Checked: Sep 27 at 12:06AM
MLS# 219142327
Copyright © 2026 California Desert Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fourplex contains 2,664 square feet across two separate buildings, each configured with two residential units. The unit mix includes two 2-bedroom, 1-bath residences and two 1-bedroom, 1-bath residences. Ceramic tile flooring, zoned heating and cooling, and individual washers and dryers serve the units. The property was built in 1975 and underwent extensive remodeling in 2022, including window replacement, plumbing, roofing, electrical work, flooring, and interior painting.
Located at 2542 Sea View Drive in Thermal, California, the property occupies 0.3068 acres. Parking includes assigned, covered, and on-street spaces. Two units are occupied and two are vacant, providing a combination of existing occupancy and immediately available units. The property is offered as-is.
Located at 2542 Sea View Drive in Thermal, California, the property occupies 0.3068 acres. Parking includes assigned, covered, and on-street spaces. Two units are occupied and two are vacant, providing a combination of existing occupancy and immediately available units. The property is offered as-is.
Key Highlights
- Four units totaling 2,664 square feet
- Two separate buildings with two units each
- Unit mix includes two 2‑bedroom/1‑bath and two 1‑bedroom/1‑bath units
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
$23,845
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
4.08%
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%
$476,900
$476.9K
Cap Rate 7%
$340,643
$340.6K
Cap Rate 9%
$264,944
$264.9K
Market Conditions
NOI Build-Up for 2,664 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
$35.2K $13.20/SF
− Vacancy
−$1.1K −$0.41/SF
EGI
$34.1K $12.79/SF
− OpEx
−$10.2K −$3.84/SF
NOI
$23.8K $8.95/SF
Area
Imperial County, CA
Vacancy
3.13%
Lease Rate
$13.20 /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%
$476,900
Cap Rate 7%
$340,643
Cap Rate 9%
$264,944
Alternative Uses
Best Use
Multifamily LT 5
$340.6K
$298.1K – $397.4K
NOI $23,845 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$315.8K
$276.3K – $368.4K
NOI $22,103 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$679.5K
$594.6K – $792.8K
NOI $47,568 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 92274, CA
19,251
Population
7,030
Households
2.7
Avg Household Size
29
Median Age
5%
College-Educated
47%
High-School Grad
216.2 sq mi
ZIP Area
89
Density / Sq Mi
$36,087
Median Household Income
$24,355
Median Earnings
$903
Median Rent
$139,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Quadplex - Four residential units are arranged across separate buildings with assigned, covered, and street parking.
Where is this quadplex located?
The property is located at 2542 Sea View Drive Thermal, CA.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Four units totaling 2,664 square feet; Two separate buildings with two units each; Unit mix includes two 2‑bedroom/1‑bath and two 1‑bedroom/1‑bath units
