Three-Unit Corner-Lot
For Sale
$1,750,000
7191 Wyoming Street, Westminster, CA 92683
Three residences share a fenced property with garages, parking, and backyard laundry facilities.
Property Size3,598 SF
Lot Size0.17 Acres
Price / SF$486.38
Days on Market116
Property Features for 7191 Wyoming Street
General Information
Standard status
Active
Size
3,598 SF
Total Parking Spaces
11
Lot size
0.17 Acres
Property subtype
Triplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
3
Amenities
shared laundry room
Building Details
Building Size
3,598 SF
Year Built
1978
Listing Agency:
American Smart Realty
(714) 587-3818
Listed By:
Cindy Doan · License #02041191
Source:
Altamirarealty
Added: May 7
Changed: Aug 29
Last Checked: Aug 12 at 10:49AM
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 American Smart Realty
Investment Insights
Based on property information with market context.
Built in 1978, this three-unit residential income property provides approximately 3,598 SF of living space on a 7,405 SF corner lot. The unit mix includes two three-bedroom, two-bath layouts and one two-bedroom, one-bath layout. One upstairs residence has a private exterior staircase, while an emergency metal staircase serves the private backyard area. A shared laundry room is positioned in the backyard.
The property includes five garages and six concrete driveway parking spaces, with additional street parking available. Iron fencing encloses the front and side yards, which include landscaped areas, palm trees, and fruit trees in the backyard. The property has four electric meters, four gas meters, and one water meter. Located in Westminster, the property offers access to schools, markets, shopping centers, dining, essential services, and the Fwy 22 and 405.
The property includes five garages and six concrete driveway parking spaces, with additional street parking available. Iron fencing encloses the front and side yards, which include landscaped areas, palm trees, and fruit trees in the backyard. The property has four electric meters, four gas meters, and one water meter. Located in Westminster, the property offers access to schools, markets, shopping centers, dining, essential services, and the Fwy 22 and 405.
Key Highlights
- Three units with two 3‑bedroom, 2‑bath layouts and one 2‑bedroom, 1‑bath layout
- Approximately 3,598 SF of living space on a 7,405 SF corner lot
- Five garages and 6 concrete driveway parking spaces
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
$75,893
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
4.34%
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%
$1,517,860
$1.5M
Cap Rate 7%
$1,084,186
$1.1M
Cap Rate 9%
$843,256
$843.3K
Market Conditions
NOI Build-Up for 3,598 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
$112.3K $31.20/SF
− Vacancy
−$3.8K −$1.07/SF
EGI
$108.4K $30.13/SF
− OpEx
−$32.5K −$9.04/SF
NOI
$75.9K $21.09/SF
Area
Orange County, CA
Vacancy
3.42%
Lease Rate
$31.20 /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%
$1,517,860
Cap Rate 7%
$1,084,186
Cap Rate 9%
$843,256
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$948.7K – $1.26M
NOI $75,893 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$981.1K
$858.5K – $1.14M
NOI $68,676 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,595 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,158
Businesses Nearby
Explore this area
Business Placement
Demographics for 92683, CA
90,946
Population
29,075
Households
3.1
Avg Household Size
42
Median Age
26%
College-Educated
78%
High-School Grad
9.7 sq mi
ZIP Area
9,376
Density / Sq Mi
$82,703
Median Household Income
$39,821
Median Earnings
$2,101
Median Rent
$820,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residences share a fenced property with garages, parking, and backyard laundry facilities.
Where is this triplex located?
The property is located at 7191 Wyoming Street Westminster, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Three units with two 3‑bedroom, 2‑bath layouts and one 2‑bedroom, 1‑bath layout; Approximately 3,598 SF of living space on a 7,405 SF corner lot; Five garages and 6 concrete driveway parking spaces
