$1,175,000
$1,250,000
6.0%For more information regarding the value of a property, please contact us for a free consultation.
3,468 SqFt
SOLD DATE : 05/04/2022
Key Details
Sold Price $1,175,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,468 sqft
Price per Sqft $338
MLS Listing ID PW22027676
Sold Date 05/04/22
HOA Y/N No
Year Built 1964
Lot Size 7,601 Sqft
Acres 0.1745
Property Description
HIGHLY MOTIVATED SELLER! 1031 EXCHANGE REPLACEMENT PROPERTY ALREADY LOCATED. ALL OFFERS TO BE CONSIDERED. Grand Terrace Apartments is a cash flowing 4-unit apartment complex located in the heart of Grand Terrace. The Grand Terrace Apartments is an exceptionally well-maintained property with excellent financials. It presents an extremely rare opportunity to purchase Grand Terrace rentals, one of the most upscale rental locations in the Inland Empire. Built-in 1964 and comprised of highly desirable single-story, two bedroom/one bathroom units with large, private yards and washer/dryer hookups for each tenant. These qualities attract high-paying renters with long-term stays. The property also offers the new Buyer the potential to add an ADU (Accessory Dwelling Unit) and the Seller has already created a rendering for this added unit. The quality and rareness to obtain a Grand Terrace investment combined with substantial upside and ADU potential makes this unique investment the perfect find for any apartment investor.
Location
State CA
County San Bernardino
Area 266 - Grand Terrace
Zoning R-2
Rooms
Ensuite Laundry Electric Dryer Hookup, Gas Dryer Hookup
Interior
Interior Features Unfurnished
Laundry Location Electric Dryer Hookup,Gas Dryer Hookup
Heating None
Cooling Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Laundry Electric Dryer Hookup, Gas Dryer Hookup
Exterior
Carport Spaces 4
Pool None
Community Features Rural
Utilities Available See Remarks
Total Parking Spaces 8
Private Pool No
Building
Lot Description 0-1 Unit/Acre, Yard
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 0275211380000
Energy Description 1008.0
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with ZORAM LUNA • RE/MAX TIME REALTY
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "