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We are proud to exclusively present for sale a 7-unit apartment community located at 305 W Olive Avenue in the historic downtown district of the city of Redlands. The property is part of a portfolio of multifamily properties all within blocks of one another which includes 305 W Olive Avenue (7 Units); 205 W Fern Avenue (8 Units); 108 W Olive Avenue (4 Units); and 304 Eureka Street (3 Units). All properties can be sold together or individually.305 W Olive Avenue is located south of Interstate 10 and is situated between Alvarado Street and Grant Street, south of Redlands Boulevard. It is walking distance to downtown Redlands, Olive Market, the Redlands Bowl and Smiley Library. It is within biking distance to ESRI (the city’s top employer) and the University of Redlands; and within five miles of Loma Linda University Medical Center. 305 W Olive Avenue offers convenient access to the 10, 210 and 215 freeways and neighboring cities in the county—Loma Linda, Yucaipa, and Colton. It is located less than 6 miles from the San Bernardino International Airport and just a short drive from Riverside, Ontario, Moreno Valley, and San Bernardino – all major logistic hubs within the region. Several significant local landmarks are also within a short distance, including: Yaamava' Resort & Casino, Big Bear Lake, Lake Arrowhead, the San Bernardino National Forest, Morongo Casino Resort & Spa and more. Built in 1906, 305 W Olive Avenue is comprised of one three-story mansion that was legally converted to seven units comprising of two studios, four one-bedroom/one-bath units, and one large penthouse one-bedroom/one-bathroom unit. The property has a lot size of ±8,400 square feet and total rentable square feet of approximately ±3,800 square feet. The units feature built-in cabinetry, high ceilings, ceiling fans, wall air conditioning and heating, and included appliances. The common areas feature lush landscaping with large mature trees and an on-site laundry facility. 305 W Olive Avenue is an income-producing property and a great long-term value-add investment opportunity. The property is in a highly desirable area and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.
Property Type(s):
Residential Income
| Last Updated | 11/1/2024 | Year Built | 1906 |
|---|---|---|---|
| Community | Redlands | County | San Bernardino |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | Redlands |
| HEAT | Wall Furnace |
| HOA DUES | 0 |
| LOT | 8400 sq ft |
| LOT DESCRIPTION | 6-10 Units/Acre |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| WATER | Public |
Location
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Listed with CB RICHARD ELLIS
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
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