NOT LISTED FOR SALE

2575 Steele Rd San Bernardino, CA 92408

South Pointe Neighborhood
3 Beds
2 Baths
46,848 Sq Ft
1.94 Acres

Last Sold December 16, 2015

Last sale price $6,856,000 $146 Per Sq Ft

82 Days on Market

Highlights

  • In Ground Spa
  • Fireplace in Primary Bedroom
  • Cooling System Mounted To A Wall/Window
  • 1.94 Acre Lot
  • No HOA
  • Resident Manager or Management On Site

About This Home

As of December 2015

The Loma Vista Apartments is located in the city of San Bernardino on the border of Loma Linda. The property is located only a mile and a half away from the Loma Linda University Medical Center and two miles away from Loma Linda University. It is in an excellent area with easy access to Loma Linda Academy as well as the Loma Linda Plaza Shopping Center. Built in 1982, the Loma Vista Apartments feature pitched ceramic tile and composition roofs with a variety of on-site amenities such as a gated swimming pool, spa, barbecue grill, on-site laundry facility, storage room, and rental office for the convenience of the tenants. There are 97 carport spaces available with a newly re-sealed parking lot. Tenants have the option of renting out additional parking spaces which provides additional monthly income. Overall, the property is very well maintained with beautiful landscaping that brings great curb appeal. The seller has spent about $15,000 over the past 18 months on landscaping upgrades. As a result of the many upgrades made to the property, Loma Vista Apartments have maintained a 100% occupancy rate. The building is all electric with the exception of four gas water heaters. This property offers growth and stability for any type of investor.

Last Agent to Sell the Property

Eric Chen

CB RICHARD ELLIS Listed on: 07/22/2015

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1982

Lot Details

  • 1.94 Acre Lot
  • Two or More Common Walls
  • Density is 36-40 Units/Acre

Home Design

  • Property Attached
  • Composition Roof
  • Copper Plumbing

Interior Spaces

  • 46,848 Sq Ft Home
  • 2-Story Property
  • Electric Fireplace
  • Blinds
  • Living Room with Fireplace
  • Carpet
  • Laundry Room

Kitchen

  • Electric Oven
  • Electric Cooktop
  • Dishwasher
  • Fireplace in Kitchen

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Fireplace in Primary Bedroom
  • 2 Bathrooms

Parking

  • 97 Parking Spaces
  • Parking Available
  • Covered Parking

Pool

  • In Ground Spa
  • Private Pool

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace

Listing and Financial Details

  • Tax Lot 1
  • Tax Tract Number 10526
  • Assessor Parcel Number 0141332060000

Community Details

Overview

  • No Home Owners Association
  • 6 Buildings
  • 70 Units

Recreation

  • Community Pool

Building Details

  • 70 Separate Electric Meters
  • 70 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $8,992
  • Gardener Expense $9,882
  • Insurance Expense $9,761
  • Maintenance Expense $32,408
  • Other Expense $14,000
  • Pool Expense $4,893
  • Professional Management Expense $41,291
  • Trash Expense $8,751
  • Water Sewer Expense $20,236
  • New Taxes Expense $113,143
  • Gross Income $55,684
  • Net Operating Income $361,895

Additional Features

  • Laundry Facilities
  • Resident Manager or Management On Site

Property Details

Home Type

Multi-Family

Year Built

Built in 1982

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 5.06
  • Improvements Amount: 51777
  • Professional Management Expense: 41291.00
  • Property Attached: Yes
  • Security: Resident Manager
  • Water Sewer Expenses: 20236.00
  • Property Type: Residential Income
  • Gardener Expense: 9882.00
  • Parcel Number: 0141332060000
  • Year Built: 1982
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Interior Amenities: Copper Plumbing Full
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Flooring: Carpet
  • Appliances: Yes
  • Fireplace Features: Electric, Kitchen, Living Room, Master Bedroom
  • Levels: Two
  • Price Per Square Foot: 146.35
  • Spa Features: In Ground
  • Window Features: Blinds

Exterior Features

  • Pool Expense: 4893.00
  • Pool Features: Community
  • Pool Private: Yes
  • Roof: Composition
  • Spa: Yes

Garage/Parking

  • Parking: Yes
  • Parking Features: Covered
  • Total Parking Spaces: 97.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Electric Oven, Electric Cooktop, Refrigerator
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Trash Expense: 8751.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Community Features: Sidewalks

Lot Info

  • Lot Features: 36-40 Units/Acre
  • Lot Size Sq Ft: 84506.00
  • Price Per Lot Square Foot: 81.13
  • Lot Size Acres: 1.9400

Multi Family

  • Average1 Bed Area: 723
  • Average2 Bed Area: 897
  • Electric Expense: 8992.00
  • Gross Income: 55684.00
  • Gross Multiplier: 10.84
  • Gross Scheduled Income: 668210.00
  • Insurance Expense: 9761.00
  • Lot Size Area: 84506.0000 Square Feet
  • Maintenance Expense: 32408.00
  • Maintenance Percent: 5.00
  • Net Operating Income: 361895.00
  • Number Of Separate Electric Meters: 70
  • Number Of Separate Gas Meters: 70
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 70
  • Operating Expense: 286269.00
  • Operating Expense Percent: 44.17
  • Other Expense: 14000.00
  • Other Expense Description: Reserve
  • Rent Control: No
  • Vacancy Allowance: 20046
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 113143.00
  • Taxes Percent: 17.46
  • Tax Lot: 1
  • Tax Rate: 1.30
  • Tax Tract Number: 10526
  • Tax Year: 2014

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/16/2015 12/16/15 Sold $6,856,000 -4.1% $146 / Sq Ft
10/12/2015 10/12/15 Pending -- -- --
07/22/2015 07/22/15 For Sale $7,150,000 -- $153 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Eric Chen

    Seller's Agent in 2015

    Eric Chen

    CB RICHARD ELLIS

    (909) 418-2030

    58 Total Sales

    Eric Chen
    Section Image

  • N

    Buyer's Agent in 2015

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    5,599 Total Sales

    NoEmail NoEmail
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV15189986

California Regional Multiple Listing Service (CRMLS)

California San Bernardino County San Bernardino 92408 South Pointe

2575 Steele Rd, San Bernardino, CA

This home is located at 2575 Steele Rd, San Bernardino, CA 92408 since 22 July 2015. This property was built in 1982. 2575 Steele Rd is a home located in San Bernardino County with nearby schools including Reche Canyon Elementary School, Terrace Hills Middle School, and Grand Terrace High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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