Seller's Agent in 2019
Albert Le
LE INVESTMENT GROUP
(909) 256-7889
24 Total Sales
571 Richland St Upland, CA 91786
3
Beds
2
Baths
16,719
Sq Ft
0.42
Acres
Highlights
- Lawn
- Laundry Room
- Wrought Iron Fence
- Cooling System Mounted To A Wall/Window
- Drip System Landscaping
- Rectangular Lot
About This Home
As of October 2019Property Highlights; Offering Actual CAP Rate of 4.37 % / Attractive Market ProForma CAP Rate of 5.00 %, Actual GRM of 14.28, With a ProForma GRM of 13.19, Over $100,000 in capital expenditures invested in fully renovating 9 units, new copper plumbing (Type L), and shut off valves installed for the upper and lower units. Conservative 5-7 % Upside in Potential Rental Income Non-Rent Control Community & Area. Long Term Tenants With Upside in Potential Rental Income The Apartment is 100 % Occupied & Rental Comparables Illustrate a 98% Occupancy Area. Turn Key Financeable Asset. The Richland Apartments consist of (1) 1-bedroom 1-bath unit and (18) 2-bedroom 1-bath units on a 18,295 square foot lot. The two bedroom units are large and open being nearly 945 square feet each. The asset provides tenants with secured carport parking, storage, updated landscaping and an onsite laundry facility. The property is conveniently located near San Antonio Community Hospital which is the largest employer of Upland. Edison Elementary and Upland High School are within walking distance from this location. Public transportation such and the Upland Metrolink and Ontario Airport are conveniently located minutes away from the Richland Apartments.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1965
Lot Details
- 0.42 Acre Lot
- Two or More Common Walls
- Wrought Iron Fence
- Wood Fence
- Fence is in good condition
- Drip System Landscaping
- Rectangular Lot
- Paved or Partially Paved Lot
- Sprinkler System
- Lawn
- Front Yard
- Density is 16-20 Units/Acre
Home Design
- Property Attached
- Composition Roof
- Wood Siding
- Copper Plumbing
- Stucco
Interior Spaces
- 16,719 Sq Ft Home
- 2-Story Property
- Gas Cooktop
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Parking
- 18 Parking Spaces
- 18 Carport Spaces
Location
- Suburban Location
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
Listing and Financial Details
- Tax Lot 6
- Tax Tract Number 6246
- Assessor Parcel Number 1047221010000
Community Details
Building Details
- 18 Separate Electric Meters
- 18 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $1,080
- Fuel Expense $540
- Gardener Expense $3,911
- Insurance Expense $1,916
- Maintenance Expense $19,644
- Professional Management Expense $9,253
- Trash Expense $4,140
- Water Sewer Expense $5,040
- New Taxes Expense $49,032
- Operating Expense $103,428
- Gross Income $310,800
- Net Operating Income $205,008
Additional Features
- 18 Units
- Laundry Facilities
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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 | Prior Sale |
|---|---|---|---|---|---|
| 10/01/2019 10/01/19 | Sold | $4,000,000 | -2.4% | $239 / Sq Ft | |
| 06/25/2019 06/25/19 | Pending | -- | -- | -- | |
| 05/14/2019 05/14/19 | Price Changed | $4,100,000 | -2.4% | $245 / Sq Ft | |
| 12/04/2018 12/04/18 | For Sale | $4,200,000 | +59.7% | $251 / Sq Ft | |
| 12/12/2014 12/12/14 | Sold | $2,630,000 | +1.2% | $157 / Sq Ft | View Prior Sale |
| 10/09/2014 10/09/14 | Pending | -- | -- | -- | |
| 09/15/2014 09/15/14 | For Sale | $2,600,000 | -- | $156 / 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 | $52,607 | $4,775,436 | $689,785 | $4,085,651 |
| 2024 | $51,410 | $4,681,800 | $676,260 | $4,005,540 |
| 2023 | $49,963 | $4,590,000 | $663,000 | $3,927,000 |
| 2022 | $45,188 | $4,500,000 | $650,000 | $3,850,000 |
| 2021 | $44,905 | $4,041,440 | $454,662 | $3,586,778 |
| 2020 | $44,114 | $2,890,211 | $329,682 | $2,560,529 |
| 2019 | $31,683 | $2,833,541 | $323,218 | $2,510,323 |
| 2018 | $31,247 | $2,777,981 | $316,880 | $2,461,101 |
| 2017 | $32,060 | $2,900,000 | $400,000 | $2,500,000 |
| 2016 | $28,676 | $2,670,108 | $304,575 | $2,365,533 |
| 2015 | $28,485 | $2,630,000 | $300,000 | $2,330,000 |
| 2014 | $19,726 | $1,842,400 | $208,200 | $1,634,200 |
Source: Public Records
Agents Affiliated with this Home
-
Albert Le
-
Eric Chen
Seller's Agent in 2014
Eric Chen
CB RICHARD ELLIS
(909) 418-2030
1 in this area
65 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IV18285184
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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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