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$ 4,100,000
Est. payment | /mo
8 Beds
6 Baths
$ 4,100,000
Est. payment | /mo
8 Beds
6 Baths
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV24236870
Bedrooms 8
Property Sub-Type Res Income 2-4 Units
Property Description
6.03% Current CAP Rate & 11.27 GRM! We are pleased to present an exceptional turn-key investment opportunity in a prime multi-family asset, offering a rare combination of solid cash flow and substantial upside potential. The property features an attractive unit mix of (1) 3-Bedroom/2-Bathroom, (1) 2-Bedroom/2-Bathroom, (10) 2-Bedroom/1-Bathroom, and (3) 1-Bedroom/1-Bathroom units, making it well-suited for a diverse tenant base. Recent capital improvements have brought the property to a "like-new" condition, with 13 out of 15 units undergoing comprehensive renovations that include new flooring, kitchens, bathrooms, walk-in closets, appliances, and updated electrical subpanels. The exterior has also been extensively upgraded, with new HVAC systems, a remodeled entryway, refreshed landscaping, and all copper plumbing, ensuring long-term durability and tenant satisfaction. Built in the 1970s, the property features colonial-style architecture and includes valuable amenities that enhance tenant experience, such as gated on-site parking, an on-site laundry facility, and a recreational room. For added privacy, the property offers a private entrance with an intercom system. Beyond the current upgrades, this property offers immediate value-add potential with approved plans for three ADUs, which will allow for increased rental income and overall asset appreciation. Currently, the property boasts a Gross Rent Multiplier (GRM) of 11.27 and a Capitalization Rate (Cap Rate) of 6.03%, with plenty of upside as market rents continue to rise and the ADU plans are implemented. With the combin
Location
State CA
County San Bernardino
Zoning Assessor
Direction Just North of Foothill Blvd. West of Riverside Ave.
Interior
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Tax ID 0127543010000
Listed by Kristopher German RE/MAX 2000 REALTY
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