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509 W Olive Avenue

Redlands, CA 92373
  • $899,000
  • STATUS: Active
  • ON SITE: 9 Days
  • ID#: OC22195657
UPDATED: 65 min ago
$899,000
  • 0
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1940
County:

School Ratings & Info

Listing Agent(s): Prashant Sampat of Pacific Avenue Realty (562-841-0227)


Description

Calling all investors! If you are seeking a high ROI with substantial growth year after year with a amazing location, don't miss your opportunity to own this Amazing Four-Plex in the rapidly growing Redlands market! Conveniently located on one of the best streets in all of Redlands and within a couple blocks from Downtown Redlands, University of Redlands, Smiley Library, Redlands Bowl and about 1/2 mile from the new Packing House District with restaurants, brewery, distillery, shopping, future rail line and much more! The Units are all large 1 bed/1bath units each with their own separate electric and gas meters, with approximately 638 sqft of living space per unit and sitting on nearly 12,000 sqft lot with 3 garages! Also the Building has completely upgraded Plumbing throughout, including the Main Sewer line as well as having Drought tolerant landscaping that gives the an aesthetic charm with very low water consumption. With 2 units already close to market rent, this property has the ability to produce $1750 per unit or $84,000 per year Income! If location, location location means anything to you, don't miss on the best located multifamily in all of Inland Empire!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-30T00:30:20.567. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Empire. Licensed in the State of California, USA.
www.bestsocalhomesearch.com/homes/133265963
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509 W Olive Avenue Redlands, CA 92373

  • Price: $899,000
  • Status: Active
  • On Site: 9 Days
  • Updated: 65 min ago
  • ID#: OC22195657
0
Beds
0
Baths
0
½ Baths
0.27
Acres
1940
Built
Neighborhood:
268 - Redlands
County:
San Bernardino
Area:
268 - Redlands
Property Description
Calling all investors! If you are seeking a high ROI with substantial growth year after year with a amazing location, don't miss your opportunity to own this Amazing Four-Plex in the rapidly growing Redlands market! Conveniently located on one of the best streets in all of Redlands and within a couple blocks from Downtown Redlands, University of Redlands, Smiley Library, Redlands Bowl and about 1/2 mile from the new Packing House District with restaurants, brewery, distillery, shopping, future rail line and much more! The Units are all large 1 bed/1bath units each with their own separate electric and gas meters, with approximately 638 sqft of living space per unit and sitting on nearly 12,000 sqft lot with 3 garages! Also the Building has completely upgraded Plumbing throughout, including the Main Sewer line as well as having Drought tolerant landscaping that gives the an aesthetic charm with very low water consumption. With 2 units already close to market rent, this property has the ability to produce $1750 per unit or $84,000 per year Income! If location, location location means anything to you, don't miss on the best located multifamily in all of Inland Empire!
Exterior Features

Number Of Separate Electric Meters 5 Open Parking Spaces 4 Parking Total 7 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Common Interest None Community Features CurbsSidewalks Electric Expense 200 Fuel Expense 300 Garage YN Yes Gross Income 69168 Gross Scheduled Income 69168 Insurance Expense 3000 Land Lease YN No Laundry Features None Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New LoanConventional1031 Exchange Net Operating Income 45731 New Construction YN No New Taxes Expense 10710 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 23437 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 1800 Water Sewer Expense 2400 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-09-30T00:30:20.567. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Realty ONE Group Empire. Licensed in the State of California, USA.
 
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Realty ONE Group Empire
13330 Ranchero Rd. Ste 12
Oak Hills CA, 92344
Listing Agent(s): Prashant Sampat of Pacific Avenue Realty (562-841-0227)