NOT LISTED FOR SALE
7 Beds
6 Baths
27,592 Sq Ft
1.69 Acre Lot

Sale Details

Date Sold: June 18, 2025

Last sale price $4,800,000 $174 Per Sq Ft

43 Days on Market

Highlights

  • 1.69 Acre Lot
  • Central Heating and Cooling System
  • Laundry Facilities
  • Redlands East Valley High School Rated A-

About This Home

As of June 2025

We are proud to present an unique investment opportunity in the heart of Redlands: The Los Arboles Apartments. This 25-unit property, located at 1002, 1006, 1016, 1022, and 1028 Tribune Street and 1001 and 1007 Post Street, offers a rare advantage – it comprises seven individually parceled buildings (three triplexes and four fourplexes) situated on a spacious 1.66-acre lot. Built in 1965, the well-maintained complex features pitched composition roofs, and secure iron fencing with entry gates around all but one of the building clusters. The desirable unit mix includes primarily single-story two-bedroom/two-bathroom units, supplemented by townhouse-style two-bedroom/two-bathroom units and three-bedroom/two-bathroom units within two of the fourplexes. Residents benefit from ample parking with 23 garages, 4 carports, and 13 open spaces. The properties boast mature landscaping with lovely mountain views, courtyards, laundry facilities, individual porches or patios, and ample street parking. Units feature fully equipped kitchens with oven ranges, horizontal blinds, AC/ heating, storage space, carpet flooring, spacious floorplans, ample closet space and select units have dishwashers. Strategically positioned near vibrant Downtown Redlands and the University of Redlands, Los Arboles offers investors a stabilized asset with significant structural flexibility and strong location fundamentals. Redlands benefits from a diverse and resilient economy, anchored by major employers in technology (like global GIS leader Esri), logistics (including large distribution centers), healthcare, and education (University of Redlands). This robust employment base consistently attracts a strong workforce, driving sustained demand for rental housing throughout the city. The Los Arboles Apartments offers a central location with convenient access to the Metrolink Downtown Redlands Commuter Rail Station. The property is also nearby to shopping centers, theaters, restaurants, and trendy shops, catering to diverse needs and providing excellent entertainment options. The Los Arboles Apartments is a stable income-producing asset in the Inland Empire, promising a strong return on investment. Whether you’re a first-time investor seeking to enter the market, a seasoned investor looking to expand your portfolio, or considering a 1031 Exchange, this property offers exceptional stability and long-term value.

Last Agent to Sell the Property

Eric Chen

CB RICHARD ELLIS Brokerage Phone: 626-757-5717 License #01489184 Listed on: 04/22/2025

Last Buyer's Agent

Eric Chen

CB RICHARD ELLIS Brokerage Phone: 626-757-5717 License #01489184 Listed on: 04/22/2025

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 1.69 Acre Lot
  • Two or More Common Walls
  • Density is 21-25 Units/Acre
  • -02, -03, -04; -05, -10, -09

Parking

  • 25 Open Parking Spaces
  • 25 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 27,592 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Bathrooms

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 6904
  • Assessor Parcel Number 0169092010000
  • $994 per year additional tax assessments

Community Details

Overview

  • 7 Buildings
  • 25 Units

Amenities

  • Laundry Facilities

Building Details

  • 20 Leased Units
  • Rent Control
  • 25 Separate Electric Meters
  • 25 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,400
  • Gardener Expense $4,800
  • Insurance Expense $20,000
  • Maintenance Expense $18,750
  • Other Expense $5,000
  • Pest Control $1,400
  • Professional Management Expense $20,796
  • Trash Expense $22,175
  • Water Sewer Expense $22,175
  • New Taxes Expense $78,590
  • Operating Expense $194,686
  • Gross Income $547,272
  • Net Operating Income $325,222

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

1.69 Acres

Parking

25

Listing Details

  • CapRate: 5.42
  • Professional Management Expense: 20796.00
  • Property Attached: Yes
  • Water Sewer Expenses: 22175.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 4800.00
  • Parcel Number: 0169092010000
  • Year Built: 1964
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: Two
  • Price Per Square Foot: 173.96

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 25.00
  • Total Parking Spaces: 50.00
  • Uncovered Spaces: 25.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central, Wall Furnace
  • Laundry Features: Common Area
  • Pest Control Expense: 1400.00
  • Sewer: Public Sewer
  • Trash Expense: 22175.00
  • Water Source: Public
  • Cooling: Central Air, Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: -02, -03, -04; -05, -10, -09
  • Land Lease: No
  • Lot Features: 21-25 Units/Acre
  • Lot Size Sq Ft: 73572.00
  • Lot Size Acres: 1.6890

Multi Family

  • Electric Expense: 1400.00
  • Gross Income: 547272.00
  • Gross Multiplier: 10.96
  • Gross Operating Income: 519908.00
  • Gross Scheduled Income: 547272.00
  • Insurance Expense: 20000.00
  • Lot Size Area: 73572.0000 Square Feet
  • Maintenance Expense: 18750.00
  • Net Operating Income: 325222.00
  • Number Of Separate Electric Meters: 25
  • Number Of Separate Gas Meters: 25
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 20
  • Number Of Units Total: 25
  • Operating Expense: 194686.00
  • Other Expense: 5000.00
  • Other Expense Description: Reserves
  • Rent Control: Yes
  • Total Actual Rent: 547272.00
  • Total Expenses: 194686.00

Tax Info

  • New Taxes Expense: 78590.00
  • Tax Census Tract: 008002
  • Tax Lot: 1
  • Tax Tract Number: 6904
  • TaxOtherAnnualAssessmentAmount: 994.00

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 22, 2025
Closed on
Jun 3, 2025
Sold by
Redlands Apartments Llc
Bought by
Seller's Agent
Eric Chen
CB RICHARD ELLIS
Buyer's Agent
Eric Chen
CB RICHARD ELLIS
List Price
$6,750,000
Sold Price
$4,800,000
Premium/Discount to List
-$1,950,000
-28.89%
Views
21

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,800,000
Outstanding Balance
$4,740,092
Interest Rate
6.76%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 8, 2022
Sold by
Pithiya Viram M and Pithiya Shila V
Bought by
Redlands Apartments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,000,000
Interest Rate
3.92%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 7, 2012
Closed on
Mar 5, 2013
Sold by
Waters Dora P
Bought by
Pithiya Viram M and Pithiya Shila V
Seller's Agent
Eric Chen
CB RICHARD ELLIS
Buyer's Agent
Eric Chen
CB RICHARD ELLIS
List Price
$2,800,000
Sold Price
$2,575,000
Premium/Discount to List
-$225,000
-8.04%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,802,500
Interest Rate
3.6%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 11, 2003
Sold by
Waters E David G and Waters Dora P
Bought by
Waters E David G and Waters Dora P

Purchase Details

Closed on
Mar 5, 2003
Sold by
Waters E David G
Bought by
Waters E David G and Waters Dora P

Purchase Details

Closed on
Nov 15, 1999
Sold by
Waters Dora Shu Wei Pan
Bought by
Waters E David G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$241,500
Interest Rate
7.68%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$4,800,000 First American Title Insurance
Redlands Apartments Llc -- Old Republic Title
Pithiya Viram M -- First American Title Company
Waters E David G -- --
Waters E David G -- --
Waters E David G -- Benefit Land Title
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $4,800,000
Previous Owner Redlands Apartments Llc $3,000,000
Previous Owner Pithiya Viram M $1,800,000
Previous Owner Pithiya Viram M $1,802,500
Previous Owner Waters E David G $241,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/18/2025 06/18/25 Sold $4,800,000 -20.0% $174 / Sq Ft
06/04/2025 06/04/25 Pending -- -- --
05/09/2025 05/09/25 Price Changed $6,000,000 -11.1% $217 / Sq Ft
04/22/2025 04/22/25 For Sale $6,750,000 +162.1% $245 / Sq Ft
04/24/2013 04/24/13 Sold $2,575,000 -8.0% $93 / Sq Ft View Prior Sale
03/13/2013 03/13/13 Pending -- -- --
11/07/2012 11/07/12 For Sale $2,800,000 -- $101 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2026 $6,387 $816,000 $244,800 $571,200
2025 $6,387 $507,350 $100,977 $406,373
2024 $5,968 $497,402 $98,997 $398,405
2023 $5,961 $487,649 $97,056 $390,593
2022 $5,876 $478,087 $95,153 $382,934
2021 $5,982 $468,712 $93,287 $375,425
2020 $5,894 $463,905 $92,330 $371,575
2019 $5,731 $454,809 $90,520 $364,289
2018 $5,590 $445,891 $88,745 $357,146
2017 $5,543 $437,148 $87,005 $350,143
2016 $5,481 $428,576 $85,299 $343,277
2015 $5,442 $422,139 $84,018 $338,121
2014 $5,344 $413,870 $82,372 $331,498
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV25088667

California Regional Multiple Listing Service (CRMLS)

APN: 0169-092-01

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