Triplex With Detached
New
For Sale
$899,000
714 W Nevada, Ontario, CA 91762
Two buildings contain three tenant-occupied residences with private garage space and landscaped outdoor areas.
Property Size2,132 SF
Days on Market3
Property Features for 714 W Nevada
General Information
Standard status
Active
Size
2,132 SF
Total Parking Spaces
3
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Building Details
Building Size
2,132 SF
Year Built
1957
Buildings
2
Units
3
Tenancy
Multi
Listing Agency:
California Realty Group Inc
Listed By:
GAVIN CARLSON · License #02017058
(951) 526-6031
Source:
Elliman
Added: Sep 4
Last Checked: Sep 5 at 11:41AM
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 California Realty Group Inc
Investment Insights
Based on property information with market context.
This triplex consists of two separate buildings containing three 2-bedroom, 1-bathroom units. Each residence is currently tenant occupied. The property also includes three detached garage spaces, a fenced front yard, brick walkways, and a brick front porch.
Built in 1957, the property is located at 714 W Nevada in Ontario, California. Walk Score is 57, Bike Score is 46, and Transit Score is 32. Local rent control does not apply, while California’s AB 1482 may apply; rental regulations, exemptions, rents, and tenancy information should be verified by the buyer.
Built in 1957, the property is located at 714 W Nevada in Ontario, California. Walk Score is 57, Bike Score is 46, and Transit Score is 32. Local rent control does not apply, while California’s AB 1482 may apply; rental regulations, exemptions, rents, and tenancy information should be verified by the buyer.
Key Highlights
- Three 2‑bedroom, 1‑bathroom units across two separate buildings
- Three detached garage spaces
- All three units are currently tenant occupied
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
$31,408
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
3.49%
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%
$628,160
$628.2K
Cap Rate 7%
$448,686
$448.7K
Cap Rate 9%
$348,978
$349.0K
Market Conditions
NOI Build-Up for 2,132 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
$47.3K $22.20/SF
− Vacancy
−$2.5K −$1.15/SF
EGI
$44.9K $21.05/SF
− OpEx
−$13.5K −$6.31/SF
NOI
$31.4K $14.73/SF
Area
Ontario, CA
Vacancy
5.20%
Lease Rate
$22.20 /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%
$628,160
Cap Rate 7%
$448,686
Cap Rate 9%
$348,978
Alternative Uses
Best Use
Multifamily LT 5
$448.7K
$392.6K – $523.5K
NOI $31,408 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$385.3K
$337.1K – $449.5K
NOI $26,971 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$551.4K
$482.5K – $643.3K
NOI $38,598 @ 7.0% cap · market cap 4.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,233
Businesses Nearby
Explore this area
Business Placement
Demographics for 91762, CA
62,524
Population
20,163
Households
3.1
Avg Household Size
34
Median Age
21%
College-Educated
77%
High-School Grad
14.3 sq mi
ZIP Area
4,372
Density / Sq Mi
$76,289
Median Household Income
$40,085
Median Earnings
$1,752
Median Rent
$568,700
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 - Two buildings contain three tenant-occupied residences with private garage space and landscaped outdoor areas.
Where is this triplex located?
The property is located at 714 W Nevada Ontario, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bathroom units across two separate buildings; Three detached garage spaces; All three units are currently tenant occupied
