$1,420,000
$1,500,000
5.3%For more information regarding the value of a property, please contact us for a free consultation.
0.33 Acres Lot
SOLD DATE : 12/04/2024
Key Details
Sold Price $1,420,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB24142846
Sold Date 12/04/24
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1980
Annual Tax Amount $13,687
Lot Size 0.325 Acres
Property Description
Presenting a well-maintained two-story quadruplex with an impressive 5.45% cap rate, offering significant income upside and an opportunity to push the cap rate to over 6% within a year. This fully occupied property features four spacious units: one 3-bedroom, 2-bath and 2 car garage unit, and three 2-bedroom, 1.5-bath and 1 car garage units. Three of the units have been upgraded. Each unit is equipped with central air and heat, ensuring year-round comfort for tenants. All units are currently occupied, with one lease secured until July 2025 and the remaining units on a month-to-month basis to provide maximum flexibility for the new owner. Each unit has separate electric and gas meters, its own garage, and laundry hookups. The owner has provided a washer, dryer, and refrigerator in three of the units, which will convey to the buyer. Tenants can enjoy outdoor spaces with either a patio, balcony, or small yard. Ideally situated close to schools, major freeways, shopping centers, restaurants, and more, this property offers convenience and accessibility for all tenants. This is a rare opportunity for investors to acquire a stable, income-producing property with the potential for increased rents and other income through garage rents or RUBS implementation for water, sewer, and trash. Don't miss out on this exceptional investment in a high-demand area. Current low interest rate VA loan may be assumed by military buyer.
Location
State CA
County San Bernardino
Area 686 - Ontario
Interior
Heating Central, Forced Air
Cooling Central Air
Fireplace No
Laundry In Garage
Exterior
Parking Features Garage, Garage Faces Side
Garage Spaces 5.0
Garage Description 5.0
Pool None
Community Features Curbs, Sidewalks
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
View Y/N Yes
View Neighborhood
Total Parking Spaces 5
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 0216411280000
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Acceptable Financing Cash, Cash to New Loan, FHA, Submit, VA Loan
Listing Terms Cash, Cash to New Loan, FHA, Submit, VA Loan
Financing Assumed
Special Listing Condition Standard
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Bought with Duane White • Home Centre Real Estate/Mtg.
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Broker Associate | Lic# 01398838