Pacific Shores Real Estate
Sean Papst, Pacific Shores Real EstatePhone: (714) 642-3179
Email: [email protected]

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listing
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Residential IncomeFor Sale
$6,995,000
1414 Citrus Street
San Bernardino, CA 92404
Listed by ALBERT LE DRE#01468313 [email protected] Le Investment Group
MLS: California Regional MLS (CRMLS)
Est. Mortgage
$36,207/mo

Highlights; Attractive Offering Actual CAP Rate of 6.08% / ProForma CAP Rate of 6.70% / ProForma CAP Rate is Based on Leveling Off Current Rents / Extra Large Units 850+ Sq. Ft. All 2-bedroom units / Priced below replacement cost at $226.39 per Sq. Ft. / Rental Comparables Illustrate a 98% Occupancy Area / The Property is Currently 100% Occupied, With Well-Qualified Tenants / Upgraded units with granite countertops, new cabinetry and luxury vinyl plank flooring in majority of the units. / Well-Maintained Onsite Laundry / Providing Additional Annual Income / Ample Onsite Parking With Covered Carport Parking / Property is Fully Fenced The 36-unit apartment complex is situated on a large 1.11 acre corner lot . This 36 unit apartment community is composed of all two bedroom / one bathroom units. The current ownerships focus has been on quality improvements. The onsite management has implemented strict rental criteria, which in turn has created a more favorable living environment for working class people and families. The building currently operates at near 100% occupancy.

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Information courtesy of Le Investment Group is subject to verification and is not guaranteed.
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