Fullerton Multifamily Property with
For Sale
$1,275,000
Pending
912 E Commonwealth, Fullerton, CA 92831
Move-in ready house plus two new ADUs in Fullerton.
Property Size2,250 SF
Days on Market151
Property Features for 912 E Commonwealth
General Information
Standard status
Pending
Size
2,250 SF
Total Parking Spaces
4
Property subtype
Residential Income
Net Operating Income
$45,974
Amenities
Sidewalks
Central Air, Heat Pump
Central, Heat Pump
Gas Cooktop, Gas Range
Driveway
Bungalow
Building Details
Building Size
2,250 SF
Year Built
2022
Buildings
2
Stories
2
Listing Agency:
Buckingham Investments
Listed By:
Anthony Walker · License #01908153
(310) 982-7055
Source:
Evrealestate
Added: Apr 15
Changed: Aug 23
Last Checked: Sep 12 at 4:47AM
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 Buckingham Investments
Investment Insights
Based on property information with market context.
This property features a detached single-family residence (SFR) and two additional dwelling units (ADUs) in Fullerton. The SFR, remodeled in 2021, includes two bedrooms and one bathroom, a new kitchen and bathroom, new windows and finishes, air conditioning, laundry facilities, and overhead lighting. Constructed in 2022, the two new ADUs each offer two bedrooms and one bathroom, modern finishes, open-concept floor plans, air conditioning, and in-unit laundry. A parking lot provides off-street parking for four cars. The property is separately metered for gas and electricity, and the ADUs are equipped with solar panels. The location provides convenient access to Downtown Fullerton, Fullerton College, and Chapman University. Outdoor amenities are nearby, including the Fullerton Arboretum, Craig Regional Park, and the Fullerton Sports Complex. Transportation access is facilitated by proximity to the 91 and 57 freeways. The property has a walk score of 63, indicating it is somewhat walkable.
Key Highlights
- Two new 2 bed, 1 bath ADUs built in 2022 provide substantial rental income potential ($2300 each).
- Completely remodeled detached 2 bed, 1 bath SFR (2021) and two new ADUs (2022) offer modern finishes and turnkey move‑in readiness.
- Excellent Fullerton location provides convenient access to Downtown, Fullerton College, Chapman University, and outdoor amenities.
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
$37,582
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
2.95%
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%
$751,640
$751.6K
Cap Rate 7%
$536,886
$536.9K
Cap Rate 9%
$417,578
$417.6K
Market Conditions
NOI Build-Up for 2,250 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
$71.6K $31.80/SF
− Vacancy
−$3.2K −$1.43/SF
EGI
$68.3K $30.37/SF
− OpEx
−$30.7K −$13.67/SF
NOI
$37.6K $16.70/SF
Area
Fullerton, CA
Vacancy
4.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$751,640
Cap Rate 7%
$536,886
Cap Rate 9%
$417,578
Alternative Uses
Best Use
Apartment 5plus
$536.9K
$469.8K – $626.4K
NOI $37,582 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$723.5K
$633.1K – $844.1K
NOI $50,646 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,604
Businesses Nearby
Explore this area
Business Placement
Demographics for 92831, CA
38,953
Population
13,691
Households
2.8
Avg Household Size
31
Median Age
44%
College-Educated
89%
High-School Grad
5.9 sq mi
ZIP Area
6,602
Density / Sq Mi
$89,451
Median Household Income
$41,878
Median Earnings
$2,093
Median Rent
$821,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Move-in ready house plus two new ADUs in Fullerton.
Where is this apartment building located?
The property is located at 912 E Commonwealth Fullerton, CA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Two new 2 bed, 1 bath ADUs built in 2022 provide substantial rental income potential ($2300 each).; Completely remodeled detached 2 bed, 1 bath SFR (2021) and two new ADUs (2022) offer modern finishes and turnkey move‑in readiness.; Excellent Fullerton location provides convenient access to Downtown, Fullerton College, Chapman University, and outdoor amenities.
