21-Unit Two-Story Apartment
For Sale
$1,995,000
511 E Fredricks, Barstow, CA 92311
21 one-bedroom, one-bath units across two two-story buildings, with tenants paying gas and electricity.
Property Size12,968 SF
Lot Size0.62 Acres
Price / SF$153.84
Days on Market60
Property Features for 511 E Fredricks
General Information
Standard status
Active
Size
12,968 SF
Lot size
0.62 Acres
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
21
Building Details
Year Built
1964
Stories
2
Tenancy
Multi
Listing Agency:
LE INVESTMENT GROUP
Listed By:
DARREN CORREA · License #02066621
(714) 310-2840
Source:
Kw
Added: Jul 8
Changed: Sep 4
Last Checked: Sep 4 at 5:27PM
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 LE INVESTMENT GROUP
Investment Insights
Based on property information with market context.
This 21-unit multifamily property features all one-bedroom, one-bathroom units distributed across two two-story buildings. The buildings total approximately 12,968 rentable square feet, with construction dates spanning from 1959 to 1964. Tenants pay for gas and electricity, which can help offset owner utility expenses. The property sits on approximately 0.62 acres.
511 E. Fredricks Street is located in Barstow’s High Desert community, with access to Interstate 15 and Interstate 40, as well as proximity to Downtown Barstow, shopping, dining, schools, and the Marine Corps Logistics Base.
As a residential income asset comprised entirely of one-bedroom, one-bath units, it is designed for straightforward leasing and management within a compact, two-building layout.
511 E. Fredricks Street is located in Barstow’s High Desert community, with access to Interstate 15 and Interstate 40, as well as proximity to Downtown Barstow, shopping, dining, schools, and the Marine Corps Logistics Base.
As a residential income asset comprised entirely of one-bedroom, one-bath units, it is designed for straightforward leasing and management within a compact, two-building layout.
Key Highlights
- 21‑unit multifamily property on approx. 0.62 acres in Barstow’s High Desert community
- All units are 1‑bedroom, 1‑bath across two two‑story buildings
- Total approx. 12,968 rentable SF
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
$114,804
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
5.75%
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%
$2,296,080
$2.3M
Cap Rate 7%
$1,640,057
$1.6M
Cap Rate 9%
$1,275,600
$1.3M
Market Conditions
NOI Build-Up for 12,968 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
$222.5K $17.16/SF
− Vacancy
−$13.8K −$1.06/SF
EGI
$208.7K $16.10/SF
− OpEx
−$93.9K −$7.24/SF
NOI
$114.8K $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%
$2,296,080
Cap Rate 7%
$1,640,057
Cap Rate 9%
$1,275,600
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.44M – $1.91M
NOI $114,804 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.74M
$2.39M – $3.19M
NOI $191,479 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
Explore this area
Business Placement
Demographics for 92311, CA
34,524
Population
13,707
Households
2.5
Avg Household Size
33
Median Age
11%
College-Educated
84%
High-School Grad
424.4 sq mi
ZIP Area
81
Density / Sq Mi
$59,338
Median Household Income
$38,871
Median Earnings
$1,081
Median Rent
$217,500
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 - 21 one-bedroom, one-bath units across two two-story buildings, with tenants paying gas and electricity.
Where is this apartment building located?
The property is located at 511 E Fredricks Barstow, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 21‑unit multifamily property on approx. 0.62 acres in Barstow’s High Desert community; All units are 1‑bedroom, 1‑bath across two two‑story buildings; Total approx. 12,968 rentable SF
