$735,000
$749,000
1.9%For more information regarding the value of a property, please contact us for a free consultation.
0.83 Acres Lot
SOLD DATE : 04/30/2015
Key Details
Sold Price $735,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC14184556
Sold Date 04/30/15
HOA Y/N No
Year Built 1964
Tax Year 2013
Lot Size 0.826 Acres
Property Description
GREAT INVESTMENT OPPORTUNITY IN A VERY WELL DESIRABLE RENTAL AREA OF COLTON. AN UP AND COMING COMMUNITY...
8 ONE BEDROOM ONE BATH UNITS WITH PRIVATE PATIOS WITH A TWO BEDROOM DETACHED HOUSE ON NEARLY AN ACRE LOT. PROPERTY HAS LOTS OF UPSIDES. NEWLY PAINTED AND MANY OF THE UNITS HAVE NEW TILE, LAMINATE & WOOD FLOORING. THIS PROPERTY IS CLOSE TO SCHOOLS, SHOPPING, CHURCHES AND FREEWAY ACCESS.
CURRENT RENTS AT $78,600.YEARLY EXPENSES AT $15,755. CAP RATE 8.4% *** PERFORMA: CAP RATE 10.55%. *** RENT CAN BE RAISED AT LEAST $150.00 PER MONTH PER UNIT. GROSS YEARLY: $94,800. ANNUAL EXP:$15,755. NET INCOME: $79,045.
Location
State CA
County San Bernardino
Area 273 - Colton
Interior
Interior Features Tile Counters
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet, Tile
Fireplaces Type None
Fireplace No
Appliance Gas Oven, Gas Range
Laundry None
Exterior
Parking Features Assigned
Garage Spaces 1.0
Garage Description 1.0
Pool None
Community Features Urban
Total Parking Spaces 26
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Entry Level One
Sewer Septic Tank
Water Public
Level or Stories One
Others
Senior Community No
Tax ID 0274152440000
Acceptable Financing Cash, Cash to New Loan, Conventional, Owner Will Carry, Owner May Carry, Submit
Listing Terms Cash, Cash to New Loan, Conventional, Owner Will Carry, Owner May Carry, Submit
Financing Contract
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with James Kuang • Coldwell Banker New Century
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "