Seller's Agent in 2024
Kristopher German
RE/MAX
(909) 645-0443
2 in this area
124 Total Sales
540 W Arrow Route Upland, CA 91786
3
Beds
2
Baths
8,451
Sq Ft
0.35
Acres
Highlights
- Private Pool
- Upland High School Rated A-
- Laundry Room
About This Home
As of December 2024PRICED TO SELL! Just listed in the highly sought-after community of Upland, priced competitively at $142k per unit. The subject property is comprised of 14 units spread over 8,451 rental square feet, on a spacious 15,400 square foot lot. The unit mix includes one 2-Bedroom/1-Bathroom unit, twelve 1-Bedroom/1-Bathroom units, and a Non-Conforming Studio. This property has been under the same ownership since its original construction, a testament to its long-term value and stability. Tenant amenities include an onsite gated pool, a laundry facility, and ample car-port parking, enhancing its attractiveness in a prime rental location. Additionally, there is significant potential for repositioning the property with an 80% upside in rental income available through strategic management and potential rent adjustments. One unit is currently vacant, offering an immediate opportunity for lease-up at market rate. Additionally, there is an onsite manager though not legally required, and could potentially serve as an additional vacancy to bring to market rate. Notably, all utilities are master metered, with the owner covering costs for water, trash, electricity, and gas, which could be reevaluated by a new investor to optimize operational efficiency. This is an ideal price point for the savvy investor experienced at repositioning value add properties. WE ARE ONLY ACCEPTING CASH OFFERS AT THIS TIME.
Last Agent to Sell the Property
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 11/19/2024
Last Buyer's Agent
RE/MAX 2000 REALTY Brokerage Phone: 909-645-0443 License #01800021 Listed on: 11/19/2024
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1960
Lot Details
- 0.35 Acre Lot
- Two or More Common Walls
- Density is up to 1 Unit/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 8,451 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Parking
- Carport
- Parking Available
Pool
- Private Pool
Listing and Financial Details
- Tax Lot 3
- Tax Tract Number 5614
- Assessor Parcel Number 1046341190000
- $447 per year additional tax assessments
Community Details
Overview
- 3 Buildings
- 13 Units
Amenities
- Laundry Facilities
Building Details
- 1 Separate Electric Meter
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $15,624
- Fuel Expense $411
- Insurance Expense $8,850
- Maintenance Expense $10,500
- Pool Expense $1,546
- Professional Management Expense $21,540
- Trash Expense $5,556
- Water Sewer Expense $6,111
- New Taxes Expense $21,674
- Operating Expense $93,912
- Gross Income $168,108
- Net Operating Income $69,153
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/30/2024 12/30/24 | Sold | $2,100,000 | +13.5% | $248 / Sq Ft |
| 12/08/2024 12/08/24 | Pending | -- | -- | -- |
| 11/19/2024 11/19/24 | For Sale | $1,850,000 | -- | $219 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Kristopher German
-
Cheryleigh Aday
Seller Co-Listing Agent in 2024
Cheryleigh Aday
HERITAGE REALTY
(909) 641-9886
11 in this area
77 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV24237138
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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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