3-Unit Multifamily
For Sale
$679,900
7209 Tippecanoe, San Bernardino, CA 92404
Occupied rental asset with individually metered electric and gas service for each unit.
Property Size2,789 SF
Days on Market15
Property Features for 7209 Tippecanoe
General Information
Standard status
Active
Size
2,789 SF
Property subtype
Investment
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
2,789 SF
Year Built
1952
Units
3
Listing Agency:
Berkshire Hathaway HomeServices California
(909) 231-9842
Listed By:
Jack Williams · License #01220043
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 28 at 4:40PM
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 Berkshire Hathaway HomeServices California
Investment Insights
Based on property information with market context.
This multifamily property contains three separate residential units, all currently rented. Individual electric and gas meters serve each unit, supporting separate utility accounting across the property. The building was constructed in 1952 and is currently occupied by tenants.
Key Highlights
- Three‑unit multifamily property
- All 3 units are currently rented
- Separate electric meters for each unit
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
$39,850
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
5.86%
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%
$797,000
$797.0K
Cap Rate 7%
$569,286
$569.3K
Cap Rate 9%
$442,778
$442.8K
Market Conditions
NOI Build-Up for 2,789 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
$60.2K $21.60/SF
− Vacancy
−$3.3K −$1.19/SF
EGI
$56.9K $20.41/SF
− OpEx
−$17.1K −$6.12/SF
NOI
$39.9K $14.29/SF
Area
San Bernardino, CA
Vacancy
5.50%
Lease Rate
$21.60 /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%
$797,000
Cap Rate 7%
$569,286
Cap Rate 9%
$442,778
Alternative Uses
Best Use
Multifamily LT 5
$569.3K
$498.1K – $664.2K
NOI $39,850 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$511.0K
$447.2K – $596.2K
NOI $35,773 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$840.0K
$735.0K – $980.0K
NOI $58,797 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Explore this area
Business Placement
Demographics for 92404, CA
64,270
Population
19,403
Households
3.3
Avg Household Size
31
Median Age
10%
College-Educated
72%
High-School Grad
31.6 sq mi
ZIP Area
2,034
Density / Sq Mi
$66,173
Median Household Income
$36,237
Median Earnings
$1,386
Median Rent
$383,700
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 - Occupied rental asset with individually metered electric and gas service for each unit.
Where is this triplex located?
The property is located at 7209 Tippecanoe San Bernardino, CA.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Three‑unit multifamily property; All 3 units are currently rented; Separate electric meters for each unit
