$590,000
$599,000
1.5%For more information regarding the value of a property, please contact us for a free consultation.
6,000 SqFt
SOLD DATE : 05/28/2019
Key Details
Sold Price $590,000
Property Type Commercial
Sub Type SpecialPurpose
Listing Status Sold
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $98
MLS Listing ID RS18165277
Sold Date 05/28/19
HOA Y/N No
Lot Size 8,062 Sqft
Acres 0.1851
Property Description
Cap Rate 9.19% with upside to 15.2% !!! Owner Said 17 Units 2 are One Bedroom, One Bath; 10 are studios for $ Call us Per Month per Unit. The last 3 Units are: one
3 Bedroom One Bath at $ call us Month. (which could be divided into a 2 bedroom with a studio unit) also 3 additional studio units.
(which need to be remodeled, being used as storage) Would make a total of 17 units. Owners brother there and will move before the
close of escrow. Annual Gross Rental Income $81,276, Annual Operating Expense Approx.. $ 26,232 , Annual Net Operating Income
$ 55044 Cap Rate Approx. 9.19%. Landlord Pays for Water ,Trash and Common Area's Gas/Electricity even Cablevision! That's why
tenants love it, everything included in rent! Close to Everything Centrally Located, Close to Freeway, Walking Distance to Stores and
Transportation Local Management Company. No Vacancy's! Easy to Rent waiting list to get in. Most of Tenants are Long-Term
Tenants. 5 Units are occupied by owners brother (Not an Owner) would be an additional $3,000/Month $36,000 year not added to these totals. these 5 units will be vacant at close of escrow. and waiting list of renters. Pro Forma Bringing Cap Rate to 15.2% at $117,276 Per Year Gross
Location
State CA
County San Bernardino
Area 699 - Not Defined
Rooms
Ensuite Laundry CommonArea
Interior
Laundry Location CommonArea
Fireplace No
Laundry CommonArea
Building
Lot Description Yard
Water Public
Others
Tax ID 0186103230000
Financing Cash
Special Listing Condition Standard
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Bought with Peter Cole • C-21 Masters
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