NOT LISTED FOR SALE
3 Beds
2 Baths
24,746 Sq Ft
0.86 Acre Lot

Sale Details

Date Sold: January 26, 2015

Last sale price $2,625,000 $106 Per Sq Ft

65 Days on Market

About This Home

As of January 2015

(DRIVE BY ONLY, PLEASE DO NOT DISTURB MANAGER OR TENANTS)

Highlights

Completely Rehabbed Turn Key Asset
1980's Construction
Competitive Cost per Unit
6.68 % Competitive Market Cap Rate
90% Occupancy Building, 95% Occupancy Area
Located North of the 210 Freeway in a Residential Neighborhood


The apartment community consists of thirty six units. The property is composed of 18 one bedroom, one bathroom units & 18 two bedroom, one bathroom units. The property has secure gated parking, onsite laundry & a well maintained gated pool area.

The city of San Bernardino has been among the most vibrant in recovery from the recession. Increased occupancy & stabilization have led to an Increase in values & rents. The Property is a turn key asset located in a 96 % occupancy area.

Last Agent to Sell the Property

Albert Le

LE INVESTMENT GROUP License #01468313 Listed on: 08/19/2014

Last Buyer's Agent

Albert Le

LE INVESTMENT GROUP License #01468313 Listed on: 08/19/2014

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1980

Lot Details

  • 37,443 Sq Ft Lot
  • Two or More Common Walls
  • Density is 31-35 Units/Acre

Parking

  • 36 Parking Spaces

Home Design

  • 24,746 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Outdoor Features

  • Private Pool
  • Exterior Lighting

Location

  • Suburban Location

Listing and Financial Details

  • Tax Lot 34
  • Tax Tract Number 154
  • Assessor Parcel Number 0154222340000

Community Details

Overview

  • 4 Buildings
  • 36 Units

Recreation

  • Community Pool

Building Details

  • 36 Separate Electric Meters
  • 36 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $6,072
  • Insurance Expense $3,394
  • Maintenance Expense $20,310
  • Professional Management Expense $11,606
  • Trash Expense $6,072
  • Water Sewer Expense $6,072
  • New Taxes Expense $37,284
  • Gross Income $25,748
  • Net Operating Income $190,410

Property Details

Home Type

Multi-Family

Year Built

Built in 1980

Lot Details

0.86 Acres

Listing Details

  • CapRate: 6.68
  • Professional Management Expense: 11606.00
  • Property Attached: Yes
  • Water Sewer Expenses: 6072.00
  • Property Type: Residential Income
  • Parcel Number: 0154222340000
  • Year Built: 1980
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 106.08

Exterior Features

  • Pool Features: Community
  • Pool Private: Yes

Garage/Parking

  • Total Parking Spaces: 36.00

Utilities

  • Utilities: Sewer Connected
  • Trash Expense: 6072.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights, Storm Drains, Suburban

Lot Info

  • Lot Features: 31-35 Units/Acre
  • Lot Size Sq Ft: 37443.00
  • Lot Size Acres: 0.8600

Multi Family

  • Electric Expense: 6072.00
  • Gross Income: 25748.00
  • Gross Multiplier: 8.86
  • Gross Scheduled Income: 311976.00
  • Insurance Expense: 3394.00
  • Lot Size Area: 37443.0000 Square Feet
  • Maintenance Expense: 20310.00
  • Net Operating Income: 190410.00
  • Number Of Separate Electric Meters: 36
  • Number Of Separate Gas Meters: 36
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 36
  • Operating Expense: 116370.00
  • Rent Control: No

Tax Info

  • New Taxes Expense: 37284.00
  • Tax Lot: 34
  • Tax Tract Number: 0154
  • Tax Year: 2013

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

Closed on
Nov 5, 2021
Sold by
Bought by

Purchase Details

Closed on
Jul 29, 2019
Sold by
Bought by

Purchase Details

Closed on
Apr 26, 2019
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,737,500
Interest Rate
0.0382%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 7, 2016
Sold by
Bought by

Purchase Details

Closed on
Oct 31, 2014
Sold by
Bought by

Purchase Details

Closed on
Mar 6, 2013
Sold by
Bought by

Purchase Details

Closed on
Feb 14, 2012
Sold by
Bought by

Purchase Details

Closed on
Dec 21, 2009
Sold by
Bought by

Purchase Details

Closed on
Mar 18, 2003
Sold by
Bought by

Purchase Details

Closed on
Dec 30, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,462,500
Interest Rate
0.055%

Purchase Details

Closed on
Nov 4, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,462,500
Interest Rate
0.055%

Purchase Details

Closed on
Jun 10, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,087,500
Interest Rate
0.0686%
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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
-- Orange Coast Title Company
-- First American Title Company
$3,650,000 First American Title Company
$2,625,000 Lawyers Title
$2,625,000 Ticor Title
$333,000 Stewart Title Of California
$348,500 Stewart Title Co Glendale
$119,500 Stewart Title Co Glendale
-- South Coast Title
$1,950,000 South Coast Title
-- Old Republic Title
$1,425,000 Old Republic Title Company
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 $2,920,000
Previous Owner $2,737,500
Previous Owner $1,500,000
Previous Owner $6,500,000
Previous Owner $110,000
Previous Owner $1,462,500
Previous Owner $1,087,500
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
01/26/2015 01/26/15 Sold $2,625,000 -7.9% $106 / Sq Ft
10/23/2014 10/23/14 Pending -- -- --
08/19/2014 08/19/14 For Sale $2,850,000 -- $115 / 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 $6,446 $514,154 $54,121 $460,033
2025 $6,446 $504,073 $53,060 $451,013
2024 $6,314 $494,190 $52,020 $442,170
2023 $6,156 $484,500 $51,000 $433,500
2022 $698 $475,000 $50,000 $425,000
2021 $695 $40,414 $40,414 $0
2020 $692 $40,000 $40,000 $0
2019 $443 $21,224 $21,224 $0
2018 $440 $20,808 $20,808 $0
2017 $431 $20,711 $20,711 $0
2016 $418 $20,305 $20,305 $0
2015 $281 $20,492 $20,492 $0
2014 $273 $20,091 $20,091 $0
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: IV14178663

California Regional Multiple Listing Service (CRMLS)
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