Cap Rate for North San Bernardino (City), California

Real Estate Consultant · Houston, TX · Member since 2015 · 125 posts · 28 votes

Hi everybody,

I'm looking at a 45 unit apartment complex in North San Bernardino, 92407. What cap rate would be expected in this area?

Thank you!

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Most Popular Reply

Real Estate Professional · Agoura Hills, CA · Member since 2016 · 27 posts · 10 votes

10y

At least 6.5%

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Erez Jonathan
Real Estate Professional · Agoura Hills, CA · Member since 2016 · 27 posts · 10 votes
10y
At least 6.5%
1 Reply
Jo-Ann LapinPro Member
Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
10y
polished area or not?
[email protected]
1 Reply
Kirk Galt
OP
Real Estate Consultant · Houston, TX · Member since 2015 · 125 posts · 28 votes
10y
I'd say it's a C+ area. Older built housing one one side and empty lots on the other; near the University.
0 Reply
Erez Jonathan
Real Estate Professional · Agoura Hills, CA · Member since 2016 · 27 posts · 10 votes
10y
Originally posted by @Kirk Galt:

I'd say it's a C+ area. Older built housing one one side and empty lots on the other; near the University.
A C+ location plus a rent control building at least 7% cap
0 Reply
Kirk Galt
OP
Real Estate Consultant · Houston, TX · Member since 2015 · 125 posts · 28 votes
10y
Thank you Erez! The property is Section 8, fully occupied, and nets 324K per year.
0 Reply

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