Address
2741 Park Avenue San Bernardino, CA
Price
$ 3,500,000
Property Attributes
  • MLS#IV20231644
  • TypePending
  • CountySAN BERNARDINO
  • CitySan Bernardino
  • AreaSan Bernardino
  • Zip92404
  • Style
  • Price$ 3,500,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage17828
  • Lot Size1.04 Acres
Listing Provided Courtesy Of:
MANUEL MARQUEZ with Golden California.
Property Description

We are proud to present a fully-repositioned and stabilized 23-unit investment opportunity. This fully rehabbed apartment complex has reset the CAPEX cycle for the next 5-10 years. With 90% of all units are at Current-Market-Rates and which will allow full-upside benefit with AB1482 and not be hindered by low rental rates. The layout consist of 12-Units of 2BD/2BA and 11-Units of 2/1 each with their own Garage.This 6% CAP is calculated with a 35% Expense Ratio and plenty of upside to come. This is a great fit for your 1031 Exchange situation for anyone who wants to upgrade in Asset Class, with low CAPEX forecasted, 80% Newly qualified tenants at Market Rate, and NO COVID Defaults. With New Security Gates with "Keyfobs" entry and Camera & Alarm System. New Rod-Iron Trash-Bin Enclosure and New Decomposed-Granite Landscaping for curb appeal and Safety. On-site property manager's office and Coin Laundry all make up an amazing opportunity for income and growth.

Price History
11/4/2020 Listed $3,500,000

General Features

Attached Structure Attached
Community Features Gutters, Sidewalks
Directions Date ave and Del Rosa Ave.
Garage Spaces 23.00
Listagentaor Inland Valleys
Listing Agent MANUEL MARQUEZ - BRE#01223058
Listing Agent State License 01223058
MLS Area 274 - San Bernardino
Number of Units Leased 23
Pool Features None
Price Per Square Foot 196.32
Property Attached Y/N Yes
Roof Composition
Sewer Public Sewer
Source System CRMLS
Special Listing Conditions Standard
Total Units 23

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Common Walls 1 Common Wall
Garbage Disposal Count 23
Laundry Features Dryer Included, Gas Dryer Hookup, Individual Room, Washer Included
Laundry Y/N Yes
Number of Wall ACs 24
Studio Area Unit Type Square Feet

Exterior Features

Building Area Total 17828.00
Fence Y/N Yes
Fencing Block, Electric, Excellent Condition
Lot Features 21-25 Units/Acre
Lot Size Acres 1.0435
Lot Size Area 45455.0000
Lot Size Source Assessor
Lot Size Square Feet 45455.00
Lot Size Units Square Feet
Number of Buildings 2
Number of Separate Electric Meters 24
Number of Separate Gas Meters 24
Number of Separate Water Meters 1
Total Parking 23.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92404

Price
AVG $410K
$3.5M
Visits
AVG 41
7
Year Built
AVG 1960
1987

Areas We Cover