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PRICED TO SELL! Just listed in the highly sought-after community of Upland, priced competitively at $142k per unit. The subject property is comprised of 14 units spread over 8,451 rental square feet, on a spacious 15,400 square foot lot. The unit mix includes one 2-Bedroom/1-Bathroom unit, twelve 1-Bedroom/1-Bathroom units, and a Non-Conforming Studio.This property has been under the same ownership since its original construction, a testament to its long-term value and stability. Tenant amenities include an onsite gated pool, a laundry facility, and ample car-port parking, enhancing its attractiveness in a prime rental location. Additionally, there is significant potential for repositioning the property with an 80% upside in rental income available through strategic management and potential rent adjustments.One unit is currently vacant, offering an immediate opportunity for lease-up at market rate. Additionally, there is an onsite manager though not legally required, and could potentially serve as an additional vacancy to bring to market rate. Notably, all utilities are master metered, with the owner covering costs for water, trash, electricity, and gas, which could be reevaluated by a new investor to optimize operational efficiency. This is an ideal price point for the savvy investor experienced at repositioning value add properties.
Property Type(s):
Residential Income
| Last Updated | 11/19/2024 | Year Built | 1960 |
|---|---|---|---|
| Community | Upland | County | San Bernardino |
Additional Details
| AREA | Upland |
|---|---|
| GARAGE | Carport |
| LOT | 0.35 acre(s) |
| LOT DESCRIPTION | 0-1 Unit/Acre |
| PARKING | Carport |
| POOL | Yes |
| POOL DESCRIPTION | Private |
| SEWER | Public Sewer |
| STORIES | 2 |
| WATER | Public |
Location
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Listed with RE/MAX 2000 REALTY
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