$799,000

25588 9th Street

San Bernardino CA, 92410

Description

INVESTMENT HIGHLIGHTS: Offering Actual CAP rate of 6.01% with a Proforma CAP rate of 6.82%. Offering an Actual GRM rate of 8.76 with a Proforma GRM rate of 8.17. 2 Units (Duplex) new construction being built in 2020, in addition (2) other units completely renovated including new roof. Located near employment, shopping and schools. Multi-use with available retail frontages. Ideal for for owner/user or leasing out vacant space to increase income. The 9th Street Apartments are located between the major cross streets of Del Rosa & Sterling Ave. This 6-unit complex sits on 0.52 acres and is composed of; (1) 1 Bedroom 1 Bath, (2) 2 Bedroom 1 Bath, (1) 3 Bedroom 1 Bath, (1) 4 Bedroom 2 Bath (SFR), and (1) 1,800 Sqft. Retail building in front of the property. The owner recently built a duplex and completely renovated 2 additional units. The tenants have access to a community pool and onsite parking. This centralized location provides easy access to schools, major employers such as San Manuel Indian Casino, Amazon Distribution Centers, and San Bernardino International Airport. This apartment community has been well maintained throughout ownership. Scheduled maintenance, quality updates and improvements have always been a priority for the owner. The repairs of the property have been done as necessary, on time, and without deferred maintenance. The condition of the property offers prospective buyers an asset that will require very minimal maintenance for decades to come.

Details

MLS#IV20236249
Listing TypeFor Sale
Sub-TypeResale
StatusActive Under Contract
Year1946
Days On Site19

Features

SQ Feet6,450
Units6
Building(s)1

Market Activity 92410

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Area Information
StateCA
CountySan Bernardino
CitySan Bernardino
Zip Code92410
Area274 - San Bernardino
Listing VS Median (in 92410)
Price:
$799,000
low | high
Med:
$289,000
100% of Average
SqFt:
6,450
low | high
Med:
868
100% of Average
$ / SqFt:
$124
low | high
Med:
$333
100% of Average
On Site:
19
low | high
Med:
6
100% of Average
Listing Updated: November 27, 2020 10:40:29 PM PST
ALBERT LE LogoMLS Number: IV20236249
Listing Provided By:
ALBERT LE  of  LE INVESTMENT GROUP
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.