Light-Industrial Zoned Multifamily
For Sale
Contact for pricing
Pending
4439 Wade Avenue, Perris, CA 92571
1.1-acre light-industrial zoned parcel with five existing units.
Property Size6,150 SF
Lot Size1.10 Acres
Days on Market580
Property Features for 4439 Wade Avenue
General Information
Standard status
Pending
Size
6,150 SF
Lot size
1.10 Acres
Property subtype
Multifamily
Zoning
Public Rec
Building Details
Buildings
5
Stories
1
Units
5
Listing Agency:
homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #2023001876
Source:
Crexi
Added: Jan 19, 2025
Changed: Aug 8
Last Checked: Jul 25 at 12:34PM
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 light-industrial 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, and includes a full-circle driveway. Decorative sidewalks connect all units. There are seven marked parking stalls, with additional unmarked parking available for 10 or more vehicles. A dedicated firepit is also located on the property. 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 a fireplace, 6 bedrooms and 2 bathrooms, totaling 1,970 square feet. The pool measures 30' x 15'. 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 a total of 19 bedrooms and 8 bathrooms.
- Features a pool and pool house, providing recreational amenities.**
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 1.1-acre light-industrial zoned parcel with five existing units.
Where is this apartment building located?
The property is located at 4439 Wade Avenue 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 a total of 19 bedrooms and 8 bathrooms.; Features a pool and pool house, providing recreational amenities.**
