Thank you
David Prewitt
Dream Home Estates, Inc.
949-415-4646
CASH COW! Introducing an Exceptional Investment Opportunity nestled in the heart of the thriving city of San Bernardino, this 6-unit apartment building presents a lucrative venture for discerning investors. Boasting a remarkable gross annual income of $145,620, this property is a testament to stability and potential growth. The complex features six spacious 2-bedroom, 1-bathroom units, each approximately 700 square feet. With a track record of mostly long-term tenants, this investment is already a reliable cash cow. Furthermore, the potential for rent increases and the possibility of upgrades &/or expansion add an enticing layer of upside opportunity. One of the key highlights is the property's approval for Section 8 housing, ensuring consistent income streams and a secure investment environment. The units are low-maintenance, making it an ideal option for investors seeking a hassle-free portfolio addition. Convenience is paramount, with the property strategically located for easy access to the 10 Freeway and 215 Freeway. The proximity to schools, shopping centers, and a burgeoning commercial and industrial area, including major Distribution Centers, enhances the property's appeal. The surrounding area is experiencing rapid development, with the nearby city of San Bernardino poised for significant growth. The ambitious Las Vegas speed rail project, a $12 billion initiative, adds a layer of excitement and potential value appreciation to this investment. San Bernardino International Airport is witnessing an expansion in passenger flights, further underlining the area's economic vitality. Investors looking for an opportunity in a dynamic location with a promising future need not look any further. Seize this chance to capitalize on a fully occupied, Section 8-approved, low-maintenance property in the midst of San Bernardino's growth trajectory. This is more than an investment; it's a strategic move towards long-term success in one of Southern California's most promising real estate markets.
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Water Source : Public
Sewer : Septic Tank
Wall/Window Unit(s)
Air Conditioning
Wall Furnace
Has Heating
Year Built: 1989
Building Area Total: 4,488
None
Common Area
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.2927
Lot Size Source: Assessor
Lot Size Square Feet: 12750
Original List Price: 1,400,000
Listing Contract Date: 2024-01-13
Listing Agreement: Exclusive Right To Sell
Parcel Number: 0279281340000
Lease Term: Negotiable
Tenant Pays: All Utilities
Source Listing Status: Active
Source Neighborhood: 274 - San Bernardino
Postal Code Plus 4: 1238
Directions: Take North Lena Road or North Tippecanoe Ave to 2nd Street
Source Property Type: Residential Income
Area: 274 - San Bernardino
Property SubType: Apartment
Property Age: 35
Common Walls: No Common Walls
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: front
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
E Brier Drive, San Bernardino, CA,92408 | $665,000 | -- | -- | -- | 21143 Sqft |
Central Avenue, San Bernardino, CA,92408 | $459,999 | -- | -- | -- | 10016 Sqft |
S Washington, San Bernardino, CA,92408 | $3,500,000 | -- | -- | -- | 65340 Sqft |
E Commercial East Rd, San Bernardino, CA,92408 | $1,699,000 | -- | -- | -- | 68389 Sqft |
522 Holden Drive, San Bernardino, CA,92408 | $750,000 | 2 | 1 | 902 | 25600 Sqft |
921 S Lincoln Avenue, San Bernardino, CA,92408 | $700,888 | 3 | 1 | 1,151 | 23465 Sqft |
1075 3rd Street, San Bernardino, CA,92408 | $949,999 | -- | -- | -- | 50971 Sqft |
1894 E Cooley Avenue, San Bernardino, CA,92408 | $600,000 | 3 | 2 | 1,357 | 20250 Sqft |
Holden Drive, San Bernardino, CA,92408 | $299,900 | -- | -- | -- | 12500 Sqft |
1520 Coulston Street #13, San Bernardino, CA,92408 | $325,000 | 2 | 2 | 840 | 1680 Sqft |
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ByOwner last updated this listing 04/27/2024 @ 11:29
MLS: OC24007969
LISTED BY: David Prewitt, Dream Home Estates, Inc.
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.