12-Unit Multifamily Property with
For Sale
Contact for pricing
Pending
665 Richland Street, Upland, CA 91786
Stabilized 12-unit multifamily offering with central air, dedicated single-car garages, and on-site laundry.
Property Size9,504 SF
Lot Size0.43 Acres
Days on Market85
Property Features for 665 Richland Street
General Information
Standard status
Pending
Size
9,504 SF
Lot size
0.43 Acres
Property subtype
Multifamily
Investment Type
Stabilized
Additional Details
Highway Access
Yes
Multifamily Units
12
Building Details
Units
12
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial NRT Pasadena
(626) 844-2200
Listed By:
Robert Ip · License #CA
Source:
Crexi
Added: May 29
Changed: Aug 8
Last Checked: Jul 28 at 5:21PM
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 Coldwell Banker Commercial NRT Pasadena
Investment Insights
Based on property information with market context.
This stabilized 12-unit multifamily property is set on an expansive 19,000 square foot lot and configured as twelve independent residences. Unit amenities include dedicated single-car garages and central air HVAC systems for each residence. The community also provides on-site laundry facilities, along with additional garages designated for storage to support practical, day-to-day resident needs.
Located at the terminus of a quiet cul-de-sac at 665 Richland Street in Upland, CA, the property benefits from a tucked-away residential setting away from through traffic. Despite the secluded feel, residents have direct access to the Interstate 10 Freeway, supporting convenient connectivity to regional employment centers, retail, and transportation routes.
With central air, dedicated garages, and on-site laundry in place, the property is well-suited for an experienced multifamily investor, a 1031 exchange buyer, or an owner-operator looking for a hands-on income-oriented asset. The existing amenity package and garage configuration may appeal to tenants who value in-unit climate control and straightforward parking, while the on-site laundry and storage garages add additional operational utility for management.
Located at the terminus of a quiet cul-de-sac at 665 Richland Street in Upland, CA, the property benefits from a tucked-away residential setting away from through traffic. Despite the secluded feel, residents have direct access to the Interstate 10 Freeway, supporting convenient connectivity to regional employment centers, retail, and transportation routes.
With central air, dedicated garages, and on-site laundry in place, the property is well-suited for an experienced multifamily investor, a 1031 exchange buyer, or an owner-operator looking for a hands-on income-oriented asset. The existing amenity package and garage configuration may appeal to tenants who value in-unit climate control and straightforward parking, while the on-site laundry and storage garages add additional operational utility for management.
Key Highlights
- Stabilized 12‑unit multifamily property
- 19,000 SF lot on a quiet cul‑de‑sac
- Dedicated single‑car garages for each of the 12 residences
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
$84,137
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
2.85%
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%
$1,682,740
$1.7M
Cap Rate 7%
$1,201,957
$1.2M
Cap Rate 9%
$934,856
$934.9K
Market Conditions
NOI Build-Up for 9,504 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
$163.1K $17.16/SF
− Vacancy
−$10.1K −$1.06/SF
EGI
$153.0K $16.10/SF
− OpEx
−$68.8K −$7.24/SF
NOI
$84.1K $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%
$1,682,740
Cap Rate 7%
$1,201,957
Cap Rate 9%
$934,856
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,137 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.00M
$1.75M – $2.34M
NOI $140,331 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
Explore this area
Business Placement
Demographics for 91786, CA
55,763
Population
20,094
Households
2.8
Avg Household Size
36
Median Age
30%
College-Educated
88%
High-School Grad
8.9 sq mi
ZIP Area
6,266
Density / Sq Mi
$86,961
Median Household Income
$43,050
Median Earnings
$1,923
Median Rent
$607,100
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 - Stabilized 12-unit multifamily offering with central air, dedicated single-car garages, and on-site laundry.
Where is this apartment building located?
The property is located at 665 Richland Street Upland, CA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Stabilized 12‑unit multifamily property; 19,000 SF lot on a quiet cul‑de‑sac; Dedicated single‑car garages for each of the 12 residences
