403 Cajon Street

    Redlands, CA 92373
    • $1,260,000
    • STATUS: Closed
    • ON SITE: 494 days
    • ID#: EV17130532
    Sold - 10/10/2018
    $1,260,000
    SOLD - 10/10/2018
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,583
      SQFT
    • $166
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1930
    County:

    School Ratings & Info

    Description

    The +G+Old University Club+G- apartments are centrally located in the coveted south Redlands market. High demand rent area provides very little turnover. Collectively a total of 9 units with a mix of studios, one bedrooms and a two bedroom. Rents are under market rates which provides an upside opportunity to a new investor. Located on the south east corner of Fern Ave & Cajon St, directly across from Beaver Medical Group and 3 blocks to downtown Redlands amenities. Generational opportunity to acquire a unique property, with value add potential in a historically high demand rental market. Always re-rented within 1-2 weeks of a turnover. Annual gross income on actual rents is +- $99,180.00 and climbing. Please see attached marketing package or email broker for full income / expense summary.

    Sold by Nelly Buchanan of Homesmart Realty West.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-17T00:31:12.133. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.playavistaliving.com/homes/73470860

    403 Cajon Street Redlands, CA 92373

    • Price: $1,275,000
    • Status: Closed
    • ID#: EV17130532
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    7,583
    SQFT
    $166
    $/SQFT
    1930
    Built
    Neighborhood:
    268 - Redlands
    County:
    San Bernardino
    Area:
    268 - Redlands
    Property Description
    The +G+Old University Club+G- apartments are centrally located in the coveted south Redlands market. High demand rent area provides very little turnover. Collectively a total of 9 units with a mix of studios, one bedrooms and a two bedroom. Rents are under market rates which provides an upside opportunity to a new investor. Located on the south east corner of Fern Ave & Cajon St, directly across from Beaver Medical Group and 3 blocks to downtown Redlands amenities. Generational opportunity to acquire a unique property, with value add potential in a historically high demand rental market. Always re-rented within 1-2 weeks of a turnover. Annual gross income on actual rents is +- $99,180.00 and climbing. Please see attached marketing package or email broker for full income / expense summary.
    Exterior Features

    Garage Spaces 0.00 Lot Features 11-15 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Features Unassigned Parking Total 0.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Surface Type Maintained

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Wall Window Cooling YN Yes Flooring CarpetTileVinyl Heating Wall Heater Heating YN Yes Laundry Features None Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 5.00 Community Features CurbsSuburban Country Us Electric Expense 725.00 Elevation Units Feet Fuel Expense 1345.00 Gardener Expense 600.00 Gross Income 99180.00 Gross Multiplier 13.00 Gross Operating Income 96205.00 Gross Scheduled Income 99180.00 Insurance Expense 2250.00 Land Lease YN No Laundry YN No Maintenance Expense 2400.00 Net Operating Income 62277.00 New Taxes Expense 15938.00 Number Of Separate Electric Meters 10 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 9 Operating Expense 33928.00 Operating Expense Percent 35.00 Pest Control Expense 600.00 Professional Management Expense 5026.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasTelephone Total Actual Rent 7790.00 Total Expenses 33928.00 Trash Expense 1739.00 Utilities Cable ConnectedNatural Gas ConnectedPhone ConnectedSewer Connected Vacancy Allowance 2975 Vacancy Allowance Rate 3.00 Water Sewer Expense 3300.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Nathan Diones of Regioncy Real Estate.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-10-17T00:31:12.133. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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