5-Unit Apartment
For Sale
$1,200,000
61501 Division, Joshua Tree, CA 92252
Each unit includes a private garage with laundry hookups and access to a fully fenced yard.
Property Size9,980 SF
Days on Market56
Property Features for 61501 Division
General Information
Standard status
Active
Size
9,980 SF
Total Parking Spaces
10
Property subtype
Residential Income
Additional Details
Multifamily Units
5
Amenities
laundry hookups
fenced yard
Central
Dishwasher, Gas Cooktop, Gas Oven, Gas Range, Gas Water Heater
Ceiling Fan(s), Granite Counters, Master Downstairs
Mountain(s)
Chain Link
Boat, Driveway, Garage, Paved, Community Structure
Custom
Building Details
Building Size
9,980 SF
Year Built
2006
Buildings
5
Stories
1
Listing Agency:
RE/MAX Big Bear
Listed By:
Rachael Smith · License #01923537
(909) 744-2190
Source:
Evrealestate
Added: Jul 23
Changed: Sep 10
Last Checked: Sep 16 at 12:15PM
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 RE/MAX Big Bear
Investment Insights
Based on property information with market context.
Well-maintained 5-unit apartment building designed for tenant convenience and low-maintenance living. Each clean, spacious unit features its own private garage with laundry hookups, along with a fully fenced yard for added privacy.
The property is located just minutes from downtown Joshua Tree and within close proximity to shopping, dining, and Joshua Tree National Park.
This configuration supports straightforward tenant day-to-day use with dedicated garage space and in-unit laundry hookups, while the fully fenced yard helps define outdoor space for residents across the property.
The property is located just minutes from downtown Joshua Tree and within close proximity to shopping, dining, and Joshua Tree National Park.
This configuration supports straightforward tenant day-to-day use with dedicated garage space and in-unit laundry hookups, while the fully fenced yard helps define outdoor space for residents across the property.
Key Highlights
- 5‑unit apartment building
- Private garage with laundry hookups for each unit
- Fully fenced yard for added tenant privacy
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
$88,351
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
7.36%
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%
$1,767,020
$1.8M
Cap Rate 7%
$1,262,157
$1.3M
Cap Rate 9%
$981,678
$981.7K
Market Conditions
NOI Build-Up for 9,980 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
$171.3K $17.16/SF
− Vacancy
−$10.6K −$1.06/SF
EGI
$160.6K $16.10/SF
− OpEx
−$72.3K −$7.24/SF
NOI
$88.4K $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%
$1,767,020
Cap Rate 7%
$1,262,157
Cap Rate 9%
$981,678
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,351 @ 7.0% cap · market cap 7.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,359 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Explore this area
Business Placement
Demographics for 92252, CA
8,463
Population
5,201
Households
1.6
Avg Household Size
47
Median Age
25%
College-Educated
90%
High-School Grad
112.3 sq mi
ZIP Area
75
Density / Sq Mi
$62,821
Median Household Income
$40,402
Median Earnings
$1,172
Median Rent
$290,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Each unit includes a private garage with laundry hookups and access to a fully fenced yard.
Where is this apartment building located?
The property is located at 61501 Division Joshua Tree, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5‑unit apartment building; Private garage with laundry hookups for each unit; Fully fenced yard for added tenant privacy
