1057 N La Cadena Dr Colton, CA 92324
About This Home
As of August 20241057 N. La Cadena is a unique multi-family investment property, situated on a desirable corner lot, boasting a total of six spacious units spread across two buildings. The property includes four oversized 1-bedroom/1-bath units and two additional 1-bedroom/1-bath units, offering a versatile and attractive living arrangement for tenants. The four oversized units have the potential to be utilized as two bedroom units given the additional square footage. Each unit is individually metered for gas and electricity, ensuring efficient and fair utility management. The property features ample onsite parking, including six open-space and four garage spaces, catering to the needs of all residents. The onsite garages may serve as an opportunity to convert to ADU(s) (buyer to verify with city.) The stunning Spanish-style architecture adds a unique charm, while the second-floor units benefit from private balconies, providing a personal outdoor space for relaxation. With a remarkable 60% upside in rental income, this property represents a true value-add opportunity for savvy investors looking to maximize their returns.
Last Agent to Sell the Property
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021
Last Buyer's Agent
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1930
Lot Details
- 9,500 Sq Ft Lot
- Two or More Common Walls
- Density is 2-5 Units/Acre
Parking
- 6 Open Parking Spaces
- 4 Car Garage
Home Design
- Apartment
Interior Spaces
- 4,327 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 6 Bathrooms
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Tenant pays for electricity, gas
- Legal Lot and Block 3 / 13
- Tax Tract Number 10
- Assessor Parcel Number 0161184100000
- $915 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 6 Units
Building Details
- Rent Control
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $4,500
- Maintenance Expense $4,500
- Other Expense $900
- Trash Expense $3,120
- Water Sewer Expense $1,795
- New Taxes Expense $11,130
- Operating Expense $25,945
- Gross Income $74,376
- Net Operating Income $46,200
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/07/2024 08/07/24 | Sold | $925,000 | -2.6% | $214 / Sq Ft |
| 06/19/2024 06/19/24 | Pending | -- | -- | -- |
| 05/29/2024 05/29/24 | For Sale | $950,000 | -- | $220 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV24108288
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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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