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    36-Unit Multifamily Investment Opportunity Title is generated by Realmo AI

    83298 Argus Avenue, Trona, CA 93562

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    For Sale
    $688,888

    Multifamily complex with renovation potential in Trona, California.

    Type:Mixed Use
    Property size:
    21,660 SF
    Lot size:
    3.00 Acres
    Price / SF:
    $31/SF
    Added:
    Dec 9, 2025
    Days on Market:
    169
    Last Refresh:
    May 13 at 8:20 pm

    Property Features for 83298 Argus Avenue

    General Information

    Standard status
    Active
    Size
    21,660 SF
    Lot size
    3.00 Acres
    Property subtype
    Mixed Use

    Building Details

    Year Built
    1948

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    Listing Contact
    Gilberto Garcia

    Listing agent Gilberto Garcia

    Listing office Rise Realty

    Listing date Dec 9, 2025

    Source Xome

    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 Rise Realty

    HighLights

    • 36‑unit multi‑family complex on a large three‑acre lot.
    • Potential for Section 8 government housing rental income (approximately $1,000 per unit).
    • Significant upside potential with projected rents of $1,000-$1,200 per unit upon renovation.
    • Strong future demand due to ongoing rehabilitation and growth in Trona.
    • Existing successful apartment complex in Trona with a waiting list indicates tenant demand.
    • Two of the four buildings have new roofs, and one unit is fully completed.

    Overview

    This multifamily complex features 36 units, each with one bedroom and one bathroom, and approximately 500 square feet. The property consists of four separate apartment buildings situated on a three-acre lot, totaling approximately 22,000 square feet of living area. Utilities, including gas, water, and electric, are present. A separate laundry room structure is also located on the property. Two of the four buildings have recently received new roofs. One unit in the first building has been fully completed, while the remaining units are ready for renovation. The entire complex is currently vacant and offers significant upside potential. The property may be suitable for Section 8 government housing, with potential rents of $1,000 to $1,200 per unit upon completion. The surrounding real estate is being actively rehabilitated, creating strong future demand. There is already a successful apartment complex with over 50 units in Trona with a large waiting list.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Spa & Massage Center Hotel & Motel Department Store Grocery & Convenience Store Discount Store Grocery & Convenience Store Bed & Breakfast Adult Day Care

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Trona
    County
    San Bernardino
    State
    California
    Longitude
    -117.3759958
    Latitude
    35.7665191

    FAQs

    What type of property is this?
    Apartment building - Multifamily complex with renovation potential in Trona, California.
    Where is this apartment building located?
    The property is located at 83298 Argus Avenue Trona, CA.
    What is the asking price?
    The asking price for this property is $688,888.
    What are key features of this property?
    This property features: 36‑unit multi‑family complex on a large three‑acre lot.; Potential for Section 8 government housing rental income (approximately $1,000 per unit).; Significant upside potential with projected rents of $1,000-$1,200 per unit upon renovation.
    (866) 344-7473
    We can help!
    Listing Contact
    Gilberto Garcia
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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