NOT LISTED FOR SALE

848 W G St Colton, CA 92324

5 Beds
4 Baths
7,847 Sq Ft
0.79 Acres

Last Sold June 08, 2022

Last sale price $2,085,000 $266 Per Sq Ft

6 Days on Market

About This Home

As of June 2022

We are pleased to exclusively present the opportunity to acquire 848-888 West G Street, an 11-units multifamily investment property located in Colton, California. Built in 1955, the property sits on an oversized parcel of 0.79-acre (34,240 square feet) and has an approximate building size of 7,847 square feet. The property features five buildings and is comprised of one two-bedroom/two-bathroom home, four one-bedroom/one-bathroom, and six two-bedroom/one-bathroom units. The units feature enclosed backyards, eight single car garages and one two-car garage. The apartments are individually metered for gas and electricity and have individual hot water heaters.
The property is conveniently located with easy access to the Interstate 10 and 215 freeways, right across the street from Colton High School. The property is in close proximity to several higher education institutions including San Bernardino Valley College, Loma Linda University, and University of California Riverside, thus having the potential to attract long-term residents. The property is within walkable distance from bus stops, restaurants, and service stores on Valley Boulevard, one of the main arterials taking commuters east and west of the Inland Empire that has a traffic count of 18,323. For recreation, residents can enjoy the Colton Gold Course and hiking or biking the Santa Ana River Trail that is 2.2 miles away and spans over a hundred miles. Found in the Inland Empire region of San Bernardino, the small town of Colton has grown into a thriving transportation network with a focus on high-quality living for its residents.

Last Listed By

Douglas McCauley

MARCUS & MILLICHAP Listed on: 04/14/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1955

Lot Details

  • 0.79 Acre Lot
  • 1 Common Wall
  • Lawn

Parking

  • 12 Car Garage

Home Design

  • 7,847 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Tax Lot 7
  • Tax Tract Number 6601
  • Assessor Parcel Number 0162271180000

Community Details

Overview

  • 5 Buildings
  • 11 Units

Building Details

  • 11 Separate Electric Meters
  • 11 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $5,040
  • Insurance Expense $3,199
  • Maintenance Expense $6,333
  • Professional Management Expense $6,000
  • Water Sewer Expense $6,812
  • New Taxes Expense $28,750
  • Operating Expense $56,460
  • Gross Income $122,860
  • Net Operating Income $66,400

Property Details

Home Type

Multi-Family

Year Built

Built in 1955

Lot Details

0

Parking

12

Listing Details

  • CapRate: 2.86
  • Price Per Unit: 211364
  • Professional Management Expense: 6000.00
  • Property Attached: Yes
  • Water Sewer Expenses: 6812.00
  • Property Type: Residential Income
  • Gardener Expense: 5040.00
  • Parcel Number: 0162271180000
  • Year Built: 1955
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Price Per Square Foot: 265.71

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 12.00
  • Total Parking Spaces: 12.00

Utilities

  • Laundry: No
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lawn
  • Lot Size Sq Ft: 34412.40
  • Lot Size Acres: 0.7900

Multi Family

  • Gross Income: 122860.00
  • Gross Multiplier: 18.36
  • Gross Operating Income: 122860.00
  • Gross Scheduled Income: 126660.00
  • Insurance Expense: 3199.00
  • Lot Size Area: 0.7900 Acres
  • Maintenance Expense: 6333.00
  • Net Operating Income: 66400.00
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 11
  • Operating Expense: 56460.00
  • Operating Expense Percent: 46.00
  • Rent Control: No
  • Total Expenses: 56460.00
  • Vacancy Allowance: 3800
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 28750.00
  • Tax Lot: 7
  • Tax Tract Number: 006601

Range of Values:

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Average Value
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Sold Price
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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
06/08/2022 06/08/22 Sold $2,085,000 -10.3% $266 / Sq Ft
04/20/2022 04/20/22 Pending -- -- --
04/14/2022 04/14/22 For Sale $2,325,000 -- $296 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV22076012

California Regional Multiple Listing Service (CRMLS)