For more information regarding the value of a property, please contact us for a free consultation.
Key Details
Sold Price $550,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV14159944
Sold Date 05/05/15
HOA Y/N No
Year Built 1910
Tax Year 2013
Lot Size 0.285 Acres
Property Description
We are pleased to present this six unit apartment building in Redlands California. This building has one two bedroom one bath, four one bedroom one bathroom, and one studio. Fully occupied building no vacancies. Low expenses great cash flow. 6.5% CAP RATE ACTUAL - 7.4% CAP RATE PRO FORMA - 22% CASH ON CASH RETURN. Building is blocks from downtown Redlands where tenants can enjoy shopping and entertainment. This market shows a trend of raising rents quarter to quarter making it an excellent investment for years to come. Tenants pay electricity and gas. Building has separately metered electricity and gas, front building exterior newly painted, building shows pride of ownership no deferred maintenance. All unit have ice cold AC and heaters for the winter. Over the last 10 years owners have upgraded exterior and interior of this building and it shows! Great investment for new and experienced investors.
Location
State CA
County San Bernardino
Area 268 - Redlands
Interior
Fireplace No
Exterior
Garage Spaces 2.0
Garage Description 2.0
Pool None
Community Features Street Lights
Utilities Available Sewer Available
Total Parking Spaces 2
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Water Public
Others
Senior Community No
Tax ID 0171231010000
Acceptable Financing Submit
Listing Terms Submit
Financing Conventional
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 NATALIE JOHNSON • REAL ESTATE ASSOCIATES