Remodeled Downtown
For Sale
$399,000
6655 Split Rock, Twentynine Palms, CA 92277
Three-unit property on a double lot near restaurants and shopping, with substantial room for on-site parking.
Property Size1,528 SF
Days on Market9
Property Features for 6655 Split Rock
General Information
Standard status
Active
Size
1,528 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Building Details
Building Size
1,528 SF
Year Built
1954
Buildings
1
Units
3
Listing Agency:
Madelaine LaVoie
(760) 361-2900
Listed By:
Vinson Johnson · License #01483041
(760) 361-2900
Source:
Elliman
Added: Aug 14
Changed: Aug 22
Last Checked: Aug 22 at 10:40AM
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 Madelaine LaVoie
Investment Insights
Based on property information with market context.
This triplex offers three residential units in a remodeled property with Spanish architectural character. Constructed in 1954, the building retains an older design profile while providing updated interiors for multifamily use. The property sits on a double lot, creating additional outdoor space and room for parking beyond the building footprint.
Located downtown in Twentynine Palms, the property is near restaurants and shopping. Its walk score is 24, classified as Car-Dependent, while the bike score is 30, classified as Somewhat Bikeable. Solar equipment is also associated with the property.
Located downtown in Twentynine Palms, the property is near restaurants and shopping. Its walk score is 24, classified as Car-Dependent, while the bike score is 30, classified as Somewhat Bikeable. Solar equipment is also associated with the property.
Key Highlights
- Three‑unit triplex in a downtown setting
- Recently remodeled property built in 1954
- Double lot with substantial room for parking
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
$15,582
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
3.91%
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%
$311,640
$311.6K
Cap Rate 7%
$222,600
$222.6K
Cap Rate 9%
$173,133
$173.1K
Market Conditions
NOI Build-Up for 1,528 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
$23.7K $15.48/SF
− Vacancy
−$1.4K −$0.91/SF
EGI
$22.3K $14.57/SF
− OpEx
−$6.7K −$4.37/SF
NOI
$15.6K $10.20/SF
Area
San Bernardino County, CA
Vacancy
5.89%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$311,640
Cap Rate 7%
$222,600
Cap Rate 9%
$173,133
Alternative Uses
Best Use
Multifamily LT 5
$222.6K
$194.8K – $259.7K
NOI $15,582 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$193.2K
$169.1K – $225.5K
NOI $13,527 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$322.3K
$282.0K – $376.0K
NOI $22,562 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Explore this area
Business Placement
Demographics for 92277, CA
23,988
Population
13,657
Households
1.8
Avg Household Size
30
Median Age
25%
College-Educated
93%
High-School Grad
1,599.1 sq mi
ZIP Area
15
Density / Sq Mi
$55,515
Median Household Income
$40,928
Median Earnings
$1,267
Median Rent
$224,300
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?
Triplex - Three-unit property on a double lot near restaurants and shopping, with substantial room for on-site parking.
Where is this triplex located?
The property is located at 6655 Split Rock Twentynine Palms, CA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three‑unit triplex in a downtown setting; Recently remodeled property built in 1954; Double lot with substantial room for parking
