Seller's Agent in 2022
Dora Waters
Newport Real Estate Exchange Inc.
(909) 793-2825
1 in this area
3 Total Sales
7
Beds
1
Bath
4,900
Sq Ft
0.39
Acres
Highlights
- 0.39 Acre Lot
- Contemporary Architecture
- Laundry Room
About This Home
As of July 2022WOW!!! PRICE DROP!!! ACTUAL CAP RATE 4.79%. This is a trophy property group with a perfect mix of two single-family homes and three apartment units, total five (5) units, ideal for cash, and 1031 exchange investors who are looking for stable rentals in an excellent rental market in the Inland Empire! The Seller is motivated to sell and has made significant price reductions! The CAP rate is attractive, and the rent upside potential is real and near. These properties are perfect for long-term real estate investment opportunities. The Seller has owned these properties for over 50 years and has enjoyed the properties and the neighborhood. They are super-fast to rent if there is a vacancy!
These properties command a geographically excellent location. The neighborhood is quiet, and the neighbors are amicable. Easy access to freeway 10 attracts tenants from nearby San Bernardino County Hospital and job locations from Fontana, Ontario, Ranch Cucamonga, and even Los Angeles. To walk to downtown City center, park, local restaurants, library are only a few minutes. The City of Colton has good summer bowls in downtown areas. So, it is not hard to see that the vacancy, if any, in one of these units is filled up SUPER fast.
Tenants are responsible for the most occurring utilities and responsibilities. The owner has caught up with significant remodeling and updating. Our tenants are stable and content, and the owner bears steady rental income stream with the lower costs.
The Buyer, the Buyer's agent, and their engaged professional inspectors verify the buildings' square footage, unit sizes, lot sizes, property conditions, easement, property lines, and anything the Buyer wants to know. The Seller provides the information believed to be reliable but not guaranteed. The Buyer satisfies themselves in all the areas they would like to know during the Due Diligence period. The properties are sold "as it is." Buyer cooperates with the Seller for 1031 exchange at no extra costs. {Please do not walk on the property, and do not disturb the tenants.} DO NOT WALK ON THE PROPERTIES OR TALK WITH THE TENANTS. WE WANT A SMOOTH TRANSITION.
Last Agent to Sell the Property
Newport Real Estate Exchange Inc. License #01495616 Listed on: 05/31/2022
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,500
Year Built
- Built in 1945
Lot Details
- 0.39 Acre Lot
- No Common Walls
- Density is up to 1 Unit/Acre
- 0162041180000
Parking
- On-Street Parking
Home Design
- Contemporary Architecture
- Victorian Architecture
- Bungalow
Interior Spaces
- 7 Bedrooms
- 4,900 Sq Ft Home
- Window Screens
- Living Room with Fireplace
Laundry
- Laundry Room
- Laundry in Kitchen
- Gas And Electric Dryer Hookup
Listing and Financial Details
- Tax Lot 2&3
- Tax Tract Number 4
- Assessor Parcel Number 0162041170000
- $1 per year additional tax assessments
Community Details
Overview
- 3 Buildings
- 6 Units
Building Details
- 6 Separate Electric Meters
- 6 Separate Gas Meters
- 2 Separate Water Meters
- Electric Expense $150
- Insurance Expense $750
- Maintenance Expense $2,676
- Pest Control $446
- Water Sewer Expense $706
- New Taxes Expense $16,500
- Operating Expense $21,529
- Gross Income $89,232
- Net Operating Income $65,918
Create a Home Valuation Report for This Property
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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 |
|---|---|---|---|---|
| 07/20/2022 07/20/22 | Sold | $1,350,000 | 0.0% | $276 / Sq Ft |
| 07/20/2022 07/20/22 | Off Market | $1,350,000 | -- | -- |
| 05/31/2022 05/31/22 | For Sale | $1,375,000 | -- | $281 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Dora Waters
-
Oscar Ocampo
O
Buyer's Agent in 2022
Oscar Ocampo
AMERICAN INVESTORS REALTY
(909) 875-2556
1 in this area
6 Total Sales
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: EV22115801
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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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