Seller's Agent in 2014
Albert Le
LE INVESTMENT GROUP
(909) 256-7889
23 Total Sales
222 S Eureka St Redlands, CA 92373
South Redlands Neighborhood
4
Beds
3
Baths
3,812
Sq Ft
7,013
Sq Ft
About This Home
As of February 2014PLEASE DO NOT DISTURB MANAGER OR TENANTS. DRIVE BY ONLY.
2012 Rehabbed Property
High CAP rate property in Redlands
Under market rents
Approximately 10% upside in rents
Turnkey Property
Low Cost Per Unit For Redlands
Located within Two Miles Of
The University of Redlands
Located in Downtown Redlands
Excellent Unit Mix of One and
Two Bedroom Units
Accessible to I-10 Freeway
The subject property is a seven-unit apartment community located in
the desirable submarket of Redlands. The property consists of four one bedroom/
one-bathroom units, and three two-bedroom/one-bathroom units.
The property underwent extensive rehabilitation in 2012. Due to the rehabbed units,
the seller is continuing to lease vacant units.
The subject property is located just minutes from the University of Redlands, which is
among the top 10 in university rankings.
The subject is located in the heart of downtown Redlands, which is the
city's main thoroughfare providing access to retail, dining and
entertainment. The city of Redlands is also one of the premier cities in
San Bernardino County. It is home to the University of Redlands which
employs over 600 people and over 3,500-students.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 2012
Lot Details
- 7,000 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Home Design
- 3,812 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Bathrooms
Parking
- 7 Parking Spaces
- 7 Carport Spaces
Listing and Financial Details
- Tax Lot 7
- Tax Tract Number 82
- Assessor Parcel Number 0171322160000
Community Details
Overview
- 7 Units
Building Details
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,080
- Insurance Expense $2,415
- Maintenance Expense $7,290
- Professional Management Expense $3,600
- Trash Expense $1,000
- Water Sewer Expense $2,000
- New Taxes Expense $8,125
- Gross Income $6,600
- Net Operating Income $47,788
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/24/2014 02/24/14 | Sold | $650,000 | 0.0% | $171 / Sq Ft |
| 02/21/2014 02/21/14 | Pending | -- | -- | -- |
| 08/06/2013 08/06/13 | For Sale | $650,000 | -- | $171 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $10,049 | $796,811 | $232,914 | $563,897 |
| 2024 | $9,390 | $781,187 | $228,347 | $552,840 |
| 2023 | $9,380 | $765,870 | $223,870 | $542,000 |
| 2022 | $9,246 | $750,853 | $219,480 | $531,373 |
| 2021 | $9,412 | $736,130 | $215,176 | $520,954 |
| 2020 | $9,274 | $728,582 | $212,970 | $515,612 |
| 2019 | $9,018 | $714,296 | $208,794 | $505,502 |
| 2018 | $8,737 | $700,290 | $204,700 | $495,590 |
| 2017 | $8,664 | $686,559 | $200,686 | $485,873 |
| 2016 | $8,567 | $673,097 | $196,751 | $476,346 |
| 2015 | $8,505 | $662,987 | $193,796 | $469,191 |
| 2014 | $4,543 | $343,251 | $71,724 | $271,527 |
Source: Public Records
Agents Affiliated with this Home
-
Albert Le
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IV13157908
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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