M
Seller's Agent in 2018
Margaret Gruse
Allison James Estates & Homes
672 W 9th St San Bernardino, CA 92410
Hanes Park Neighborhood
10
Beds
10
Baths
7,221
Sq Ft
0.32
Acres
About This Home
As of March 20187% cap rate - 13 unit apartment complex on the corner of W 9th Street/N G Street for $72,000K/Door!! Newly built skate park is just around the corner. SB has been working on cleaning the area up with an apartment complex across the street completely rehabbed with the City's assistance. The vacant lot next door is available to purchase thru the City. 3 studio apts which are highly desirable and sought after in SB; 10, larger 1 bedroom units. The complex is 100% occupied with 1 unit occupied by an on-site manager (rent free) which allows potential for additional rent. The landlord pays electric for common areas, 3 studios and the laundry facility. Landlord also pays gas. Individual gas meters are plumbed and ready for individual identifiers/meters from utility company. An estimate has already been given for work. The front building has a new roof within the last few years. There are 6 garages and 4 are currently for tenants w/additional income of $20-$35 month to rent them; and 2 for storage (which allows for more income potential). Most units have been rehabbed in last 4 years with tile or laminate flooring and either tile showers or prefab showers, wall heat/air conditioning. Security fencing was installed to provide extra safety for the tenants and facility. Laundry facility provides add'l income which is managed by outside vendor. Lots of parking space for tenants. Buildings are in good condition with low maintenance required. Please do no disturb the tenants!
Last Agent to Sell the Property
Margaret Gruse
Allison James Estates & Homes License #01899863 Listed on: 05/15/2017
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1944
Lot Details
- 0.32 Acre Lot
- Two or More Common Walls
- Density is 11-15 Units/Acre
Parking
- 6 Car Garage
Home Design
- 7,221 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 10 Bedrooms
- 10 Bathrooms
Listing and Financial Details
- Tenant pays for cable TV, parking fee
- Legal Lot and Block 2 / 70
- Assessor Parcel Number 0140142180000
Community Details
Overview
- No Home Owners Association
- 3 Buildings
- 13 Units
Building Details
- 13 Leased Units
- 3 Separate Electric Meters
- 2 Separate Gas Meters
- Electric Expense $2,262
- Fuel Expense $3,592
- Gardener Expense $1,560
- Insurance Expense $3,438
- Other Expense $8,485
- Trash Expense $2,706
- Water Sewer Expense $2,817
- New Taxes Expense $8,555
- Operating Expense $33,415
- Gross Income $100,680
- Net Operating Income $67,265
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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 |
|---|---|---|---|---|
| 03/09/2018 03/09/18 | Sold | $880,000 | -4.3% | $122 / Sq Ft |
| 01/23/2018 01/23/18 | For Sale | $919,988 | +4.5% | $127 / Sq Ft |
| 12/19/2017 12/19/17 | Pending | -- | -- | -- |
| 11/11/2017 11/11/17 | Off Market | $880,000 | -- | -- |
| 10/13/2017 10/13/17 | Price Changed | $919,988 | -2.0% | $127 / Sq Ft |
| 09/15/2017 09/15/17 | Price Changed | $939,000 | -2.2% | $130 / Sq Ft |
| 07/25/2017 07/25/17 | Price Changed | $959,900 | -2.0% | $133 / Sq Ft |
| 06/14/2017 06/14/17 | Price Changed | $979,779 | -1.7% | $136 / Sq Ft |
| 05/15/2017 05/15/17 | For Sale | $997,000 | -- | $138 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
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Timothy Lewis
T
Buyer's Agent in 2018
Timothy Lewis
Elliot Lewis, Broker
(562) 221-9392
1 Total Sale
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SW17107201
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