Seller's Agent in 2021
Eric Chen
CB RICHARD ELLIS
(909) 418-2030
1 in this area
57 Total Sales
580 W E St Colton, CA 92324
3
Beds
3
Baths
12,030
Sq Ft
0.52
Acres
Highlights
- 0.52 Acre Lot
- Cooling System Mounted To A Wall/Window
- Wall Furnace
- Community Pool
- Laundry Room
About This Home
As of June 2021580 West E Street is located in a mature, highly desirable, low-traffic neighborhood of Colton. It is a short drive from a variety of shopping venues, restaurants, and medical facilities near historic Colton. The property is centrally located within Colton and offers easy access to the I-10 freeway. Its location offers convenient access to the neighboring cities of Ontario, Rancho Cucamonga, San Bernardino, Redlands and Riverside. Orange County, Los Angeles County, mountain ski resorts and beach cities are all within a 1-hour drive. 580 West E Street is a rare, 2-story, 22-unit property. Built in 1963, the property is situated on a single parcel with a total of ±22,500 square feet of land, with a total building size of ±12,030 square feet. It features an excellent unit mix of studio, one-bed/one-bathroom and two-bedroom/ one-bathroom units averaging 547 square feet. There is significant rental upside to be captured by raising rents to market levels, and additional upside is available through interior and exterior renovations. This property features spacious units arranged in a courtyard layout around the central swimming pool. 580 West E Street is a prime Colton income-producing property and a great long-term investment. The property is in a highly desirable area and offers stability for any type of investor, whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1963
Lot Details
- 0.52 Acre Lot
- 1 Common Wall
- Density is 21-25 Units/Acre
Home Design
- 12,030 Sq Ft Home
- Apartment
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Laundry
- Laundry Room
Utilities
- Cooling System Mounted To A Wall/Window
- Wall Furnace
Listing and Financial Details
- Legal Lot and Block 11 / 60
- Tax Tract Number 10700
- Assessor Parcel Number 0162031270000
Community Details
Recreation
- Community Pool
Building Details
- Rent Control
- 22 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $7,431
- Fuel Expense $4,122
- Gardener Expense $1,800
- Insurance Expense $5,600
- Maintenance Expense $14,104
- Other Expense $4,400
- Pest Control $829
- Pool Expense $4,268
- Professional Management Expense $18,873
- Trash Expense $5,447
- Water Sewer Expense $7,431
- New Taxes Expense $45,787
- Operating Expense $120,090
- Gross Income $282,078
- Net Operating Income $161,989
Additional Features
- 22 Units
- Laundry Facilities
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/07/2021 06/07/21 | Sold | $3,190,000 | -8.9% | $265 / Sq Ft |
| 12/11/2020 12/11/20 | Pending | -- | -- | -- |
| 10/30/2020 10/30/20 | Price Changed | $3,500,000 | +16.7% | $291 / Sq Ft |
| 10/23/2020 10/23/20 | For Sale | $3,000,000 | 0.0% | $249 / Sq Ft |
| 04/01/2020 04/01/20 | Pending | -- | -- | -- |
| 01/07/2020 01/07/20 | For Sale | $3,000,000 | -- | $249 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Eric Chen
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: CV20004356
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