2-Unit
For Sale
$450,000
938 E 2nd Street, San Bernardino, CA 92408
Two residential units feature updated flooring, natural light, and practical layouts on a spacious lot.
Property Size1,206 SF
Price / SF$373.13
Days on Market107
Property Features for 938 E 2nd Street
General Information
Standard status
Active
Size
1,206 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1978
Listing Agency:
JohnHart Real Estate
(818) 246-1099
Listed By:
Marlin Dginguerian · License #01930762
(818) 415-1516
Source:
Exitrealty
Added: Jul 2
Changed: Sep 2
Last Checked: Sep 15 at 5:57AM
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 JohnHart Real Estate
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Investment Insights
Based on property information with market context.
This duplex includes two separate one-bedroom, one-bathroom units with a combined 1,206 square feet of living space. Each unit has a functional layout, natural light, updated flooring, and room for personalized improvements. The property also includes outdoor space and ample parking on a spacious lot.
Located at 938 E 2nd St in San Bernardino, the property is near local amenities, schools, and commuter access. Its two-unit configuration provides a straightforward residential income property format with separate living spaces under one ownership.
Located at 938 E 2nd St in San Bernardino, the property is near local amenities, schools, and commuter access. Its two-unit configuration provides a straightforward residential income property format with separate living spaces under one ownership.
Key Highlights
- Two 1‑bedroom, 1‑bathroom units
- Combined 1, 206 sqft of living space
- Updated flooring in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,232
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$344,640
$344.6K
Cap Rate 7%
$246,171
$246.2K
Cap Rate 9%
$191,467
$191.5K
Market Conditions
NOI Build-Up for 1,206 SF
Gross rent
$26.0K $21.60/SF
− Vacancy
−$1.4K −$1.19/SF
EGI
$24.6K $20.41/SF
− OpEx
−$7.4K −$6.12/SF
NOI
$17.2K $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 Rate 5%
$344,640
Cap Rate 7%
$246,171
Cap Rate 9%
$191,467
Alternative Uses
Best Use
Multifamily LT 5
$246.2K
$215.4K – $287.2K
NOI $17,232 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$221.0K
$193.4K – $257.8K
NOI $15,469 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$363.2K
$317.8K – $423.7K
NOI $25,424 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Explore this area
Business Placement
Demographics for 92408, CA
13,488
Population
4,403
Households
3.1
Avg Household Size
32
Median Age
19%
College-Educated
73%
High-School Grad
10.5 sq mi
ZIP Area
1,285
Density / Sq Mi
$63,696
Median Household Income
$32,122
Median Earnings
$1,314
Median Rent
$407,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature updated flooring, natural light, and practical layouts on a spacious lot.
Where is this duplex located?
The property is located at 938 E 2nd Street San Bernardino, CA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bathroom units; Combined 1, 206 sqft of living space; Updated flooring in both units
