REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,850,000
Est. payment /mo
Pending
540 W Arrow Upland, CA 91786
8,451 SqFt
UPDATED:
12/10/2024 10:40 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 8,451 sqft
Price per Sqft $218
MLS Listing ID CRCV24237138
HOA Y/N No
Year Built 1960
Lot Size 0.354 Acres
Acres 0.35
Property Description
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 i
Location
State CA
County San Bernardino
Area Listing
Interior
Fireplace No
Laundry Other
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 1046341190000
© 2024 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Kristopher German • RE/MAX 2000 REALTY