$3,500,000

2741 Park Avenue

San Bernardino CA, 92404

Description

We are proud to present a fully-repositioned and stabilized 23-unit investment opportunity. This fully rehabbed apartment complex has reset the CAPEX cycle for the next 5-10 years. With 90% of all units are at Current-Market-Rates and which will allow full-upside benefit with AB1482 and not be hindered by low rental rates. The layout consist of 12-Units of 2BD/2BA and 11-Units of 2/1 each with their own Garage.This 6% CAP is calculated with a 35% Expense Ratio and plenty of upside to come. This is a great fit for your 1031 Exchange situation for anyone who wants to upgrade in Asset Class, with low CAPEX forecasted, 80% Newly qualified tenants at Market Rate, and NO COVID Defaults. With New Security Gates with "Keyfobs" entry and Camera & Alarm System. New Rod-Iron Trash-Bin Enclosure and New Decomposed-Granite Landscaping for curb appeal and Safety. On-site property manager's office and Coin Laundry all make up an amazing opportunity for income and growth.

Details

MLS#IV20231644
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1987
Days On Site23

Features

SQ Feet17,828
Units23
Building(s)1

Market Activity 92404

Loading Form
Loading Form
Area Information
StateCA
CountySan Bernardino
CitySan Bernardino
Zip Code92404
Area274 - San Bernardino
Listing VS Median (in 92404)
Price:
$3,500,000
low | high
Med:
$341,500
100% of Average
SqFt:
17,828
low | high
Med:
1,332
100% of Average
$ / SqFt:
$196
low | high
Med:
$259
18.093162840793% of Average
On Site:
23
low | high
Med:
40
57.5% of Average
Listing Updated: November 25, 2020 3:19:46 AM PST
MANUEL MARQUEZ LogoMLS Number: IV20231644
Listing Provided By:
MANUEL MARQUEZ  of  Golden California
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.