1319 Acacia Avenue, San Bernardino, CA 92405

$3,200,000
List Price
$3,200,000
Status
PENDING
MLS#
IV21065277
Year Built
1987
Lot Size
30,560
Acres
0.7
Lot Location
Item2125UnitsAcre, Corner Lot
Days on Market
172
Property Type
Multifamily

Property Description

Highlights; In-place CAP Rate of 6.34% With a ProForma CAP Rate of 7.03% / Current GRM of 10.12 With a ProForma GRM of 9.36 / Stable collection during Pandemic. Affordable Housing Programs Both City and Statewide Are Also Contributing to High Demand For This Type of Unit Mix. / 100% Occupied, Markets Rents & Stable Collection Throughout Pandemic. Professional Property Management In-place. / Located Just Blocks From he Proposed Carousel Mall Redevelopment / Downtown Development Project -City of San Bernardino / San Bernardino county, has become the area’s largest employer, including a massive 950,000-square-foot distribution center in San Bernardino, CA. / Potential To Implement Onsite Laundry With Owner Supplied Machines to Increase Passive Cash-flow. / Job creation is driving rental prices citywide. The apartment community located at 1319 Acacia Avenue in San Bernardino, CA is ideally situated between the 215 freeway, the 10 freeway and 210freeways. The property is situated on a 0.70 acre lot, with onsite parking. This twenty-two unit complex is composed of a very desirable unit mix of 12 one bedroom / one bath units, 9 two bedroom / one bath units and 1 three bedroom / two bath unit. The current ownership's has made it a priority to perform routine maintenance and create a strong community cohesion. The professional onsite management was tasked with leasing to well qualified tenants, which has resulted in far less turnover when compared to neighboring apartments.

Additional Information

Pool Description
None
Sewer
Public Sewer
Water
Public
Number Of Units Total
22
Gross Scheduled Income
$341,700
Operating Expense
59426

Mortgage Calculator

Amount of Loan
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of ALBERT LE from LE INVESTMENT GROUP

Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.