Two-Story 6-Unit Apartment
9208 Harness Street Spring Valley, CA 91977
For Sale
$1,600,000
Six two-bedroom, one-bath units in a two-story wood-frame stucco building with dedicated parking spaces.
Property Size3,600 SF
Lot Size0.21 Acres
Price / SF$444.44
Days on Market389
Property Features for 9208 Harness Street
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Lot size
- 0.21 Acres
- Property subtype
- Commercial-Res Income / Com-Res Income
Listing Agency:
NorthMarq Multifamily
(415) 250-4947
Listed By:
Benn Vogelsang · License #01883437
(415) 250-4947
Source:
Compass
Added: Jul 1, 2025
Changed: Jul 23
Last Checked: Jul 23 at 4:57PM
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 NorthMarq Multifamily
Investment Insights
Based on property information with market context.
This is a 6-unit apartment building with a strong unit mix of all two-bedroom, one-bath homes. The property consists of 3,600 square feet of building area and was constructed in 1951. The building is a two-story wood-frame stucco structure with a concrete slab foundation and a flat roof. Each unit includes a water heater. Past ownership has completed significant improvements and upgrades.
Residents benefit from on-site parking with three dedicated tandem spaces and three single parking spaces. The property is located in Spring Valley, California and is less than one mile from neighborhood retail outlets as well as public parks and schools. It is also about two miles from Sweetwater Summit Regional Park and Reservoir.
The overall configuration supports consistent residential use with fully self-contained unit amenities, complemented by dedicated parking for residents.
Residents benefit from on-site parking with three dedicated tandem spaces and three single parking spaces. The property is located in Spring Valley, California and is less than one mile from neighborhood retail outlets as well as public parks and schools. It is also about two miles from Sweetwater Summit Regional Park and Reservoir.
The overall configuration supports consistent residential use with fully self-contained unit amenities, complemented by dedicated parking for residents.
Key Highlights
- 6‑unit apartment building in Spring Valley, CA with all units being 2 bed / 1 bath
- All 6 units total 3,600 sq ft of structure in a 2‑story wood‑frame stucco building built in 1951
- Concrete slab foundation and flat roof on a single building
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.5k | $31.80 |
| − Vacancy | −$5.7k | −$1.59 |
| EGI | $108.8k | $30.21 |
| − OpEx | −$48.9k | −$13.59 |
| NOI | $59.8k | $16.62 |
3,600 SF · lease $31.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$854.5K
$747.7K – $996.9K
NOI $59,816 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,458 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six two-bedroom, one-bath units in a two-story wood-frame stucco building with dedicated parking spaces.
Where is this apartment building located?
The property is located at 9208 Harness Street Spring Valley, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 6‑unit apartment building in Spring Valley, CA with all units being 2 bed / 1 bath; All 6 units total 3,600 sq ft of structure in a 2‑story wood‑frame stucco building built in 1951; Concrete slab foundation and flat roof on a single building
