Seller's Agent in 2019
Mark Bridge
Mark Bridge, Broker
(949) 419-3200
50 Total Sales
1028 Lombard Dr Redlands, CA 92374
North Redlands NeighborhoodEstimated Value: $1,090,042 - $1,344,000
4
Beds
3
Baths
3,880
Sq Ft
$305/Sq Ft
Est. Value
Highlights
- Corner Lot
- Laundry Room
- Mountainous Community
- Redlands East Valley High School Rated A-
About This Home
As of April 2019We are pleased to offer for sale The Lombard Drive Apartments. This 4 unit "bite size" opportunity should provide and newer and experienced investor
stable cash flow and tenant profile due to the desirable unit mix of all 2 bedroom units. Built in 1964, the subject property is situated on a large corner parcel with mature landscaping including citrus trees. The city of Redlands is located in San Bernardino County off of Interstate 10 and is adjacent to the communities of Loma Linda, Yucaipa and San Bernardino. The city is home to the prestigious University of Redlands and is situated just a mile east of the subject property. Strategically positioned in an extremely dense employment area. Major national tenants include: Walmart, Target, CVS Pharmacy, Starbucks, Shell Gas, Five Guys, Chipotle, Five Below, as well as many others that offer the tenant profile many employment opportunities. Located less than five miles south of the subject property are Loma Linda University Surgical Hospital and Redlands Community Hospital, which are both general and surgical facilities with a combined bed count of 876. Additionally, San Bernardino International Airport is located in the Heart of the Inland Empire and within a five-mile radius of the subject property. There are approximately 86,642 individuals residing within a three mile radius of the property and over 219,279 individuals within a five-mile radius.
Last Agent to Sell the Property
Mark Bridge, Broker License #01316702 Listed on: 01/11/2019
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $9,088
Year Built
- Built in 1964
Lot Details
- 0.32 Acre Lot
- 1 Common Wall
- Corner Lot
- Density is 2-5 Units/Acre
Parking
- 4 Car Garage
- Parking Available
- Assigned Parking
Home Design
- 3,880 Sq Ft Home
- Quadruplex
- Wood Roof
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
Listing and Financial Details
- Tax Lot 0169
- Tax Tract Number 91
- Assessor Parcel Number 0169091230000
Community Details
Overview
- 4 Units
- Mountainous Community
Amenities
- Laundry Facilities
Building Details
- 4 Separate Electric Meters
- 4 Separate Gas Meters
- 4 Separate Water Meters
- Electric Expense $1,608
- Fuel Expense $1,608
- Gardener Expense $1,200
- Insurance Expense $1,288
- Maintenance Expense $5,066
- Other Expense $2,000
- Trash Expense $1,608
- Water Sewer Expense $1,608
- New Taxes Expense $9,088
- Operating Expense $25,074
- Gross Income $59,112
- Net Operating Income $33,335
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Oct 20, 2020
Sold by
Palasamudram Anand Babu Ramachandra Setty and Palasamudram Archana Anand
Bought by
Palasamudram Anand Babu Ramachandra Setty and Palasamudram Archana Anand
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$487,500
Outstanding Balance
$432,815
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$751,696
Purchase Details
Closed on
Feb 21, 2020
Sold by
Palasamudram Anand Babu Ramachandra Setty and Palasamudram Archana Anand
Bought by
Palasamudram Anand Babu Ramachandra Setty and Palasamudram Archana Anand
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$490,000
Interest Rate
3.4%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jan 11, 2019
Closed on
Apr 12, 2019
Sold by
Smith R Stan and Smith Laurie P
Bought by
Palasamudram Anand Babu R S and Palasamudram Archana A
Seller's Agent
Mark Bridge
Mark Bridge, Broker
Buyer's Agent
Avinash Narang
BRC Advisors BH
List Price
$749,000
Sold Price
$700,000
Premium/Discount to List
-$49,000
-6.54%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.36%
Original Mortgage
$495,000
Interest Rate
4.3%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jun 12, 2017
Sold by
Labarge Joshua
Bought by
Labarge Ventures 1 Llc
Purchase Details
Closed on
Dec 8, 2015
Sold by
R Sb Harbinger Corporation
Bought by
La Barge Industries Inc
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Palasamudram Anand Babu Ramachandra Setty | -- | Fidelity National Title Co | |
| Palasamudram Anand Babu Ramachandra Setty | -- | Fidelity National Title Co | |
| Palasamudram Anand Babu Ramachandra Setty | -- | Accommodation | |
| Palasamudra Anand Babu Ramachandra Setty | -- | Fidelity National Title Co | |
| Palasamudram Anand Babu R S | $700,000 | Fidelity National Title | |
| Labarge Ventures 1 Llc | -- | None Available | |
| Labarge Joshua | -- | None Available | |
| La Barge Industries Inc | $400,000 | Fidelity National Title |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Palasamudram Anand Babu Ramachandra Setty | $487,500 | |
| Closed | Palasamudra Anand Babu Ramachandra Setty | $490,000 | |
| Closed | Palasamudram Anand Babu R S | $495,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/12/2019 04/12/19 | Sold | $700,000 | -6.5% | $180 / Sq Ft |
| 02/22/2019 02/22/19 | Pending | -- | -- | -- |
| 02/12/2019 02/12/19 | Price Changed | $749,000 | 0.0% | $193 / Sq Ft |
| 02/12/2019 02/12/19 | For Sale | $749,000 | -1.3% | $193 / Sq Ft |
| 02/01/2019 02/01/19 | Pending | -- | -- | -- |
| 01/11/2019 01/11/19 | For Sale | $759,000 | -- | $196 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| 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 |
|---|---|---|---|---|
| 2025 | $9,088 | $780,864 | $223,104 | $557,760 |
| 2024 | $9,088 | $765,553 | $218,729 | $546,824 |
| 2023 | $9,078 | $750,542 | $214,440 | $536,102 |
| 2022 | $8,946 | $735,825 | $210,235 | $525,590 |
| 2021 | $9,110 | $721,397 | $206,113 | $515,284 |
| 2020 | $8,974 | $714,000 | $204,000 | $510,000 |
| 2019 | $5,327 | $424,483 | $127,345 | $297,138 |
| 2018 | $5,195 | $416,160 | $124,848 | $291,312 |
| 2017 | $5,152 | $408,000 | $122,400 | $285,600 |
| 2016 | $3,124 | $242,337 | $58,583 | $183,754 |
| 2015 | $95 | $238,697 | $57,703 | $180,994 |
| 2014 | $95 | $234,022 | $56,573 | $177,449 |
Source: Public Records
Agents Affiliated with this Home
-
Mark Bridge
-
Avinash Narang
Buyer's Agent in 2019
Avinash Narang
BRC Advisors BH
(818) 288-0697
1 in this area
55 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC19008261
APN: 0169-091-23
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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