NOT LISTED FOR SALE
9 Beds
5 Baths
1,097 Sq Ft
6.15 Acre Lot

Sale Details

Date Sold: March 22, 2021

Last sale price $2,725,000 $2,484 Per Sq Ft

10 Days on Market

Highlights

  • 6.15 Acre Lot
  • Foothills
  • Rectangular Lot
  • No HOA
  • Laundry Facilities
  • 4-minute walk to Ayala Park

About This Home

As of March 2021

CBRE is pleased to present the opportunity to acquire 13 Residential units and adjacent land in beautiful Bloomington California. This rare opportunity offers investors the ability to purchase a portfolio of single family residences that are all located on two main streets: Marygold Ave and Alder Ave. These assets also include ±3.5 acres of surplus land for development or other uses. Each of the units are currently occupied, producing an excellent cashflow. The properties have been well maintained with several of the units receiving recent renovations. Additional upgrades to the units would allow investors to raise rents and significantly increase the overall cashflow.

This portfolio includes the following addresses:
17771, 17789, 17795, 17747, 17713 Marygold Ave and 9945 Alder Ave Bloomington, CA.

Please reach out for Offering Memorandum

Last Agent to Sell the Property

Nicholas Mercurio

CB RICHARD ELLIS Listed on: 02/12/2021

Last Buyer's Agent

Nicholas Mercurio

CB RICHARD ELLIS Listed on: 02/12/2021

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Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1940

Lot Details

  • 6.15 Acre Lot
  • No Common Walls
  • Rectangular Lot
  • Density is 2-5 Units/Acre
  • 25205162, 25205160, 25205124, 25205125, 25205126

Parking

  • 6 Car Garage

Home Design

  • 1,097 Sq Ft Home

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 5 Bathrooms

Listing and Financial Details

  • Legal Lot and Block 252 / 051
  • Tax Tract Number 24
  • Assessor Parcel Number 0252051240000

Community Details

Overview

  • No Home Owners Association
  • 12 Buildings
  • 13 Units
  • Foothills
  • Mountainous Community

Amenities

  • Laundry Facilities

Building Details

  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 9 Separate Water Meters
  • Electric Expense $4,560
  • Fuel Expense $2,106
  • Insurance Expense $6,521
  • Trash Expense $1,675
  • Water Sewer Expense $5,123
  • New Taxes Expense $31,500
  • Operating Expense $65,506
  • Gross Income $176,040
  • Net Operating Income $105,253

Property Details

Home Type

Multi-Family

Year Built

Built in 1940

Lot Details

6.15 Acres

Parking

6

Listing Details

  • Property Attached: No
  • Water Sewer Expenses: 5123.00
  • Property Type: Residential Income
  • Parcel Number: 0252051240000
  • Year Built: 1940
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 2484.05

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Sewer: Public Sewer
  • Trash Expense: 1675.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Foothills, Mountainous

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 25205162, 25205160, 25205124, 25205125, 25205126
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre, Rectangular Lot
  • Lot Size Sq Ft: 267894.00
  • Lot Size Acres: 6.1500
  • Latitude Manual: 34.07363600

Multi Family

  • Electric Expense: 4560.00
  • Fuel Expense: 2106.00
  • Gross Income: 176040.00
  • Gross Operating Income: 170759.00
  • Gross Scheduled Income: 176040.00
  • Insurance Expense: 6521.00
  • Lot Size Area: 6.1500 Acres
  • Net Operating Income: 105253.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 9
  • Number Of Units Total: 13
  • Operating Expense: 65506.00
  • Rent Control: No
  • Total Expenses: 65506.00

Tax Info

  • New Taxes Expense: 31500.00
  • Tax Block: 051
  • Tax Lot: 252
  • Tax Tract Number: 24

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
Mar 7, 2024
Sold by
Spssm Investments Iii Lp
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
$11,000,000
Interest Rate
7.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 8, 2021
Sold by
Golden Opportunity No 14 Lp
Bought by
Spssm Investments Iii Lp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$25,000,000
Interest Rate
2.99%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 12, 2021
Closed on
Feb 25, 2021
Sold by
Nevins Richard and Modic Family Trust
Bought by
Golden Opportunity No 14 Lp
Seller's Agent
Nicholas Mercurio
CB RICHARD ELLIS
Buyer's Agent
Nicholas Mercurio
CB RICHARD ELLIS
List Price
$2,900,000
Sold Price
$2,725,000
Premium/Discount to List
-$175,000
-6.03%
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
-- Chicago Title
Spssm Investments Iii Lp -- Accommodation/Courtesy Recordi
Golden Opportunity No 14 Lp $2,725,000 First American Title Ins Co
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
Previous Owner $11,000,000
Previous Owner -- $25,000,000
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
03/22/2021 03/22/21 Sold $2,725,000 -6.0% $2,484 / Sq Ft
03/11/2021 03/11/21 For Sale $2,900,000 0.0% $2,644 / Sq Ft
02/22/2021 02/22/21 Pending -- -- --
02/12/2021 02/12/21 For Sale $2,900,000 -- $2,644 / 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 $7,911 $634,846 $480,275 $154,571
2025 $7,911 $622,398 $470,858 $151,540
2024 $7,549 $610,194 $461,625 $148,569
2023 $7,564 $598,230 $452,574 $145,656
2022 $7,454 $586,500 $443,700 $142,800
2021 $1,884 $132,466 $117,745 $14,721
2020 $2,679 $131,108 $116,538 $14,570
2019 $1,840 $128,537 $114,253 $14,284
2018 $1,655 $126,017 $112,013 $14,004
2017 $1,597 $123,546 $109,817 $13,729
2016 $1,637 $121,124 $107,664 $13,460
2015 $1,585 $119,305 $106,047 $13,258
2014 $1,525 $116,968 $103,970 $12,998
Source: Public Records

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV21030110

California Regional Multiple Listing Service (CRMLS)

APN: 0252-051-24

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