San Bernardino Multifamily Investment
For Sale
$799,900
Pending
480 West 18th Street, San Bernardino, CA 92405
Rare 5-unit residential compound with strong income potential.
Property Size4,249 SF
Lot Size0.46 Acres
Days on Market104
Property Features for 480 West 18th Street
General Information
Standard status
Pending
Size
4,249 SF
Total Parking Spaces
15
Lot size
0.46 Acres
Property subtype
Commercial Sale / Multi Family
Net Operating Income
$58,055
Building Details
Year Built
1940
Buildings
5
Listing Agency:
Compass
Listed By:
Adam Reifer · License #02013465
(951) 500-8505
Source:
Compass
Added: May 23
Changed: Aug 8
Last Checked: Jul 24 at 12:19PM
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 Compass
Investment Insights
Based on property information with market context.
This rare 5-unit residential-style multifamily compound is situated on an expansive approximately 20,000 sq. ft. lot in the heart of San Bernardino. The property features a charming front Craftsman-style residence offering 4 bedrooms, 2 bathrooms, spacious living and family rooms, a dining area, laundry room, and a bonus/flex room. It also includes a large private side yard with secured gated parking. The rear portion of the property consists of four thoughtfully designed single-story 1-bedroom/1-bath units, each with a private entry and its own individual yard space, creating a strong residential feel. The gated rear parking area offers additional secure parking and can be locked nightly. The property offers approximately 4,249+ sq. ft. of living space. It features strong in-place income, and additional upside potential through future rent growth and continued property improvements. Upgrades have been completed during ownership, including electrical improvements to the front home, and additional updates are currently being made. Additional features include 5 gas meters, 5 electric meters, approximately 11 parking spaces, select mini-split A/C systems, and a flexible tenancy structure. Conveniently located near San Bernardino High School, shopping, dining, medical facilities, and with quick access to the 215 Freeway, this property is well-positioned for long-term rental demand and future value-add potential.
Key Highlights
- Rare 5‑unit residential‑style multifamily compound on a large 20,000 sq. ft. lot.
- Strong in‑place income with additional upside potential through rent growth and property improvements.
- Front Craftsman‑style residence with 4 bedrooms, 2 bathrooms, and a large private yard.
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
$54,500
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
6.81%
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%
$1,090,000
$1.1M
Cap Rate 7%
$778,571
$778.6K
Cap Rate 9%
$605,556
$605.6K
Market Conditions
NOI Build-Up for 4,249 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
$104.5K $24.60/SF
− Vacancy
−$5.4K −$1.28/SF
EGI
$99.1K $23.32/SF
− OpEx
−$44.6K −$10.49/SF
NOI
$54.5K $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 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%
$1,090,000
Cap Rate 7%
$778,571
Cap Rate 9%
$605,556
Alternative Uses
Best Use
Apartment 5plus
$778.6K
$681.3K – $908.3K
NOI $54,500 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,576 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 92405, CA
32,165
Population
9,727
Households
3.3
Avg Household Size
31
Median Age
13%
College-Educated
74%
High-School Grad
5.0 sq mi
ZIP Area
6,433
Density / Sq Mi
$59,271
Median Household Income
$32,066
Median Earnings
$1,424
Median Rent
$376,800
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 - Rare 5-unit residential compound with strong income potential.
Where is this apartment building located?
The property is located at 480 West 18th Street San Bernardino, CA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Rare 5‑unit residential‑style multifamily compound on a large 20,000 sq. ft. lot.; Strong in‑place income with additional upside potential through rent growth and property improvements.; Front Craftsman‑style residence with 4 bedrooms, 2 bathrooms, and a large private yard.
