Light-Industrial Zoned Multifamily
For Sale
$1,250,000
4439 Wade Ave 1-5, Perris, CA 92571
1.1 acre parcel with 5 units, pool, and storage.
Property Size5,895 SF
Lot Size1.08 Acres
Price / SF$203.25
Days on Market153
Property Features for 4439 Wade Ave 1-5
General Information
Standard status
Active
Size
5,895 SF
Lot size
1.08 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,436
Building Details
Building Size
5,895 SF
Year Built
1910
Stories
1
Units
5
Listing Agency:
homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #01523060
(888) 400-2513
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:21AM
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 homecoin.com
Investment Insights
Based on property information with market context.
This 1.1-acre parcel is zoned for light-industrial use and features five existing units, a pool, a pool house, and a storage unit. The property is set in a rural location with Cedar, Birch, Eucalyptus, and Loganberry trees. A full-circle driveway provides access, and a dedicated firepit is included. Decorative sidewalks connect all units. There are seven marked parking stalls, with additional unmarked parking available for 10 or more vehicles. Unit #1 is a single-story unit with 5 bedrooms and 2 bathrooms, totaling 1,280 square feet. Unit #2 is a single-story unit with 2 bedrooms and 1 bathroom, totaling 630 square feet. Unit #3 is a single-story unit with 4 bedrooms and 2 bathrooms, totaling 1,100 square feet. Unit #4 is a single-story unit with 2 bedrooms and 1 bathroom, totaling 670 square feet. Unit #5 is a two-story unit with 6 bedrooms and 2 bathrooms, totaling 1,970 square feet and includes a fireplace. The pool measures 30 feet by 15 feet. The pool house includes a half bathroom and measures 300 square feet. The storage unit measures 500 square feet.
Key Highlights
- 1.1 acre parcel zoned light‑industrial with 5 existing units, offering income potential or business opportunities.
- Diverse unit sizes (ranging from 630 sqft to 1,970 sqft) with multiple bedrooms and bathrooms, accommodating various tenant or business needs.
- Features a pool, pool house, and storage unit, enhancing the property's appeal and functionality.
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
$99,547
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
7.96%
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%
$1,990,940
$2.0M
Cap Rate 7%
$1,422,100
$1.4M
Cap Rate 9%
$1,106,078
$1.1M
Market Conditions
NOI Build-Up for 6,150 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
$184.5K $30.00/SF
− Vacancy
−$3.5K −$0.57/SF
EGI
$181.0K $29.43/SF
− OpEx
−$81.4K −$13.24/SF
NOI
$99.5K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /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%
$1,990,940
Cap Rate 7%
$1,422,100
Cap Rate 9%
$1,106,078
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.24M – $1.66M
NOI $99,547 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,971 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 92571, CA
59,450
Population
14,792
Households
4
Avg Household Size
29
Median Age
12%
College-Educated
70%
High-School Grad
39.1 sq mi
ZIP Area
1,520
Density / Sq Mi
$85,746
Median Household Income
$37,465
Median Earnings
$2,005
Median Rent
$430,800
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?
Apartment building - 1.1 acre parcel with 5 units, pool, and storage.
Where is this apartment building located?
The property is located at 4439 Wade Ave 1-5 Perris, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 1.1 acre parcel zoned light‑industrial with 5 existing units, offering income potential or business opportunities.; Diverse unit sizes (ranging from 630 sqft to 1,970 sqft) with multiple bedrooms and bathrooms, accommodating various tenant or business needs.; Features a pool, pool house, and storage unit, enhancing the property's appeal and functionality.
