$6,995,000
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1414 Citrus Street San Bernardino, CA 92404
Apartment
Residence
Beds
Baths
...
Bed/Bath
30,898
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
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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MLS#
IV24092349
Property Type
Apartment
Year Built
1963
Square Feet
30,898
sq. ft
Lot Size
1.11
Stories
2.0
Sewer
Public Sewer
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