1414 Citrus Street, San Bernardino CA, 92404

Active

1414 Citrus Street

San Bernardino CA, 92404

$6,995,000

$226.39 per sqft

Active

30,898 sqft

Condo

Built in 1963

Listed by ALBERT LE with LE INVESTMENT GROUP 909-256-7889

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.

IV24092349

MLSⓇ ID

May 7, 2024

Listed

May 25, 2024

Updated

Map

1414 Citrus Street
San Bernardino CA, 92404

Interior Features

Total Stories: 2
Laundry Description: Common Area
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 1.11 Acres
Lot Features: 36-40 Units/Acre
Sewer: Public Sewer

Other Property Details

Area Name: 274 - San Bernardino
Garage: No
Parking Total: 18
View: No
County: San Bernardino
Water Source: Public
Pool: No
Pool Features: None
Buyer Agency Compensation: 1.5%

Listing Contact: 909-256-7889

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 5/25/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 5/25/2024 at 2:09 AM UTC