120 W Olive Ave Redlands, CA 92373
South Redlands NeighborhoodEstimated payment $8,220/month
Highlights
- Front Yard
- Cope Middle School Rated A-
- 5-minute walk to Smiley Park
About This Home
Charming five-unit apartment building in the highly desirable South Redlands area, offering an excellent investment opportunity with strong cash flow and low expenses. This fully-occupied property features a versatile mix of units, including one spacious 2-bedroom, 2-bathroom unit, two comfortable 1-bedroom, 1-bathroom units, and two cozy studio apartments. Each unit is separately metered for electricity and gas, enhancing efficiency for both owners and tenants. The property exudes curb appeal, with a manicured green lawn out front that creates an inviting atmosphere for residents and visitors alike. Inside, each unit enjoys a combination of tile, vinyl, and/or real hardwood flooring. Additionally, an array of private balconies and patios provide residents with peaceful outdoor spaces to enjoy. Situated within walking distance of downtown Redlands, tenants can easily access a variety of shopping, dining, and entertainment options, all just steps away. The prime location, steady occupancy, and diverse unit mix make this property a rare find and a smart addition to any investor's portfolio. Don’t miss out on this exceptional opportunity- schedule a viewing today!
Listing Agent
Pacific Avenue Realty Brokerage Phone: 562-841-0227 License #01916221 Listed on: 01/13/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1940
Lot Details
- 8,400 Sq Ft Lot
- 1 Common Wall
- Front Yard
- Density is up to 1 Unit/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 3,080 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 4 Bedrooms
- 2 Bathrooms
Listing and Financial Details
- Legal Lot and Block 15 / E
- Assessor Parcel Number 0171291110000
Community Details
Overview
- 5 Units
Building Details
- 5 Leased Units
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 1 Separate Water Meter
- Insurance Expense $6,000
- Trash Expense $1,800
- Water Sewer Expense $1,800
- New Taxes Expense $17,298
- Operating Expense $33,296
- Gross Income $101,944
- Net Operating Income $68,644
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/12/2025 09/12/25 | Price Changed | $1,299,000 | -3.8% | $422 / Sq Ft |
| 01/13/2025 01/13/25 | For Sale | $1,350,000 | 0.0% | $438 / Sq Ft |
| 12/11/2023 12/11/23 | Rented | $1,495 | 0.0% | -- |
| 12/07/2023 12/07/23 | Under Contract | -- | -- | -- |
| 11/07/2023 11/07/23 | Price Changed | $1,495 | -8.0% | $3 / Sq Ft |
| 10/16/2023 10/16/23 | For Rent | $1,625 | +25.0% | -- |
| 07/31/2020 07/31/20 | Rented | $1,300 | 0.0% | -- |
| 06/26/2020 06/26/20 | For Rent | $1,300 | 0.0% | -- |
| 06/19/2020 06/19/20 | Rented | $1,300 | 0.0% | -- |
| 06/05/2020 06/05/20 | For Rent | $1,300 | 0.0% | -- |
| 02/09/2018 02/09/18 | Sold | $710,000 | -1.3% | $231 / Sq Ft |
| 01/11/2018 01/11/18 | Pending | -- | -- | -- |
| 12/14/2017 12/14/17 | For Sale | $719,000 | +30.7% | $233 / Sq Ft |
| 01/19/2017 01/19/17 | Sold | $550,000 | -6.8% | $179 / Sq Ft |
| 01/19/2017 01/19/17 | Pending | -- | -- | -- |
| 01/19/2017 01/19/17 | For Sale | $590,000 | -- | $192 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: OC24245058
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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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