Five-Unit Townhome-Style Apartment
For Sale
$1,350,000
357 Amber Ct, Upland, CA 91786
Five-unit multifamily on a corner lot with private enclosed patios and in-unit washer/dryer hookups.
Property Size5,493 SF
Lot Size0.23 Acres
Price / SF$245.77
Days on Market96
Property Features for 357 Amber Ct
General Information
Standard status
Active
Size
5,493 SF
Lot size
0.23 Acres
Property subtype
Multifamily
Additional Details
Multifamily Units
5
Amenities
First time on the market in over 50 years
Washer and dryer hookups in each unit
All large two-bedroom units averaging approximately 1,100 square feet
Situated on a corner lot with carport and garage parking
Central heating, wall-mounted A/C units, and individual water heaters
Individually metered for gas and electricity; private enclosed patios for each unit
Located in North Upland, a highly desirable rental market
Ideal value-add and repositioning opportunity
Building Details
Year Built
1962
Units
5
Listing Agency:
Inland Empire Office
Listed By:
Kevin Struve · License #License(s): CA: 01266441
(909) 456-7013
Source:
Marcusmillichap
Added: Jun 1
Changed: Sep 1
Last Checked: Sep 4 at 2:04AM
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 Inland Empire Office
Investment Insights
Based on property information with market context.
Amber Court Apartments is a five-unit multifamily property built in 1962, situated on a corner lot in Upland, California. The building totals approximately 5,493 square feet and features a townhome-style unit mix of four two-bedroom, one-and-a-half-bath units, plus one single-level two-bedroom, two-bath unit, all of similar size.
Each unit includes washer and dryer hookups, central gas heating, wall-mounted air conditioning, and electric stove and oven. Residents also have an electric water heater and access to a private enclosed patio. The property is individually metered for gas and electricity; the owner is responsible for water, sewer, and trash.
Rents are currently estimated to be approximately 40% below market, creating a repositioning opportunity for an investor seeking to adjust in-place income.
Each unit includes washer and dryer hookups, central gas heating, wall-mounted air conditioning, and electric stove and oven. Residents also have an electric water heater and access to a private enclosed patio. The property is individually metered for gas and electricity; the owner is responsible for water, sewer, and trash.
Rents are currently estimated to be approximately 40% below market, creating a repositioning opportunity for an investor seeking to adjust in-place income.
Key Highlights
- Five‑unit multifamily at 357 Amber Court, Upland, built in 1962
- 0.234‑acre corner lot with approximately 5,493 SF building square footage
- Unit mix: four 2BR/1.5BA townhome‑style units and one 2BR/2BA single‑level 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
$48,629
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
3.60%
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%
$972,580
$972.6K
Cap Rate 7%
$694,700
$694.7K
Cap Rate 9%
$540,322
$540.3K
Market Conditions
NOI Build-Up for 5,493 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
$94.3K $17.16/SF
− Vacancy
−$5.8K −$1.06/SF
EGI
$88.4K $16.10/SF
− OpEx
−$39.8K −$7.24/SF
NOI
$48.6K $8.85/SF
Area
San Bernardino County, CA
Vacancy
6.20%
Lease Rate
$17.16 /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%
$972,580
Cap Rate 7%
$694,700
Cap Rate 9%
$540,322
Alternative Uses
Best Use
Apartment 5plus
$694.7K
$607.9K – $810.5K
NOI $48,629 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,107 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,957
Businesses Nearby
Explore this area
Business Placement
Demographics for 91786, CA
55,763
Population
20,094
Households
2.8
Avg Household Size
36
Median Age
30%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
6,266
Density / Sq Mi
$86,961
Median Household Income
$43,050
Median Earnings
$1,923
Median Rent
$607,100
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 - Five-unit multifamily on a corner lot with private enclosed patios and in-unit washer/dryer hookups.
Where is this apartment building located?
The property is located at 357 Amber Ct Upland, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Five‑unit multifamily at 357 Amber Court, Upland, built in 1962; 0.234‑acre corner lot with approximately 5,493 SF building square footage; Unit mix: four 2BR/1.5BA townhome‑style units and one 2BR/2BA single‑level unit
