Independent Living Senior Housing
For Sale
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363 E Gilbert St, San Bernardino, CA 92404
71-unit 55+ independent living community in a four-story rental building with controlled access and common-area amenities.
Property Size36,500 SF
Lot Size1.05 Acres
Price / SF$287.67
Days on Market207
Property Features for 363 E Gilbert St
General Information
Standard status
Active
Size
36,500 SF
Class
B
Lot size
1.05 Acres
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
71
Building Details
Year Built
1984
Buildings
1
Stories
4
Units
71
Listing Agency:
CBRE - Ontario
Listed By:
Cray Carlson · License #01101138
Source:
Crexi
Added: Mar 30
Changed: Oct 19
Last Checked: Oct 20 at 8:16PM
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 CBRE - Ontario
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Investment Insights
Based on property information with market context.
CBRE presents Bernardine Senior, a 71-unit independent living 55+ senior community built in 1984. The property consists of a single four-story rental building featuring all one-bedroom floorplans ranging from 480 to 520 square feet. An affordable component is offered through Section 8. Common area amenities include a multi-purpose room, elevator, laundry room, storage areas, courtyards and walkways, a fitness center, surface parking, and controlled access.
The community is located less than one block northeast of the intersection of Baseline Street and Waterman Avenue, both major throughfares in San Bernardino. It is described as convenient to medical facilities, grocery stores, shopping, dining, and service-based businesses, with easy access to major area freeways including I-215, 210, and I-10.
For acquisition, the offering includes a single-structure, four-story configuration supporting independent living for 55+ residents, along with onsite common amenities and surface parking.
The community is located less than one block northeast of the intersection of Baseline Street and Waterman Avenue, both major throughfares in San Bernardino. It is described as convenient to medical facilities, grocery stores, shopping, dining, and service-based businesses, with easy access to major area freeways including I-215, 210, and I-10.
For acquisition, the offering includes a single-structure, four-story configuration supporting independent living for 55+ residents, along with onsite common amenities and surface parking.
Key Highlights
- Bernardine Senior is a 71‑unit Independent Living 55+ community in San Bernardino, built in 1984.
- One four‑story rental building on 1.05 acres with all 1‑bedroom units ranging from 480 to 520 SF.
- Unit mix is all 1‑bedroom floorplans, each in the 480–520 SF range.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$468,165
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,363,300
$9.4M
Cap Rate 7%
$6,688,071
$6.7M
Cap Rate 9%
$5,201,833
$5.2M
Market Conditions
NOI Build-Up for 36,500 SF
Gross rent
$897.9K $24.60/SF
− Vacancy
−$46.7K −$1.28/SF
EGI
$851.2K $23.32/SF
− OpEx
−$383.0K −$10.49/SF
NOI
$468.2K $12.83/SF
Area
San Bernardino, CA
Vacancy
5.20%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,363,300
Cap Rate 7%
$6,688,071
Cap Rate 9%
$5,201,833
Alternative Uses
Best Use
Apartment 5plus
$6.69M
$5.85M – $7.80M
NOI $468,165 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.99M
$9.62M – $12.82M
NOI $769,478 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
71
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 92404, CA
64,270
Population
19,403
Households
3.3
Avg Household Size
31
Median Age
10%
College-Educated
72%
High-School Grad
31.6 sq mi
ZIP Area
2,034
Density / Sq Mi
$66,173
Median Household Income
$36,237
Median Earnings
$1,386
Median Rent
$383,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - 71-unit 55+ independent living community in a four-story rental building with controlled access and common-area amenities.
Where is this senior housing / retirement home located?
The property is located at 363 E Gilbert St San Bernardino, CA.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: Bernardine Senior is a 71‑unit Independent Living 55+ community in San Bernardino, built in 1984.; One four‑story rental building on 1.05 acres with all 1‑bedroom units ranging from 480 to 520 SF.; Unit mix is all 1‑bedroom floorplans, each in the 480–520 SF range.
