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981 W C ST Colton, CA 92324
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Key Details
Sold Price $735,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC14184556
Year Built 1964
Tax Year 2013
Lot Size 0.826 Acres
Property Description
GREAT INVESTMENT OPPORTUNITY IN A VERY WELL DESIRABLE RENTAL AREA OF COLTON. AN UP AND COMING COMMUNITY...
8 ONE BEDROOM ONE BATH UNITS WITH PRIVATE PATIOS WITH A TWO BEDROOM DETACHED HOUSE ON NEARLY AN ACRE LOT. PROPERTY HAS LOTS OF UPSIDES. NEWLY PAINTED AND MANY OF THE UNITS HAVE NEW TILE, LAMINATE & WOOD FLOORING. THIS PROPERTY IS CLOSE TO SCHOOLS, SHOPPING, CHURCHES AND FREEWAY ACCESS.
CURRENT RENTS AT $78,600.YEARLY EXPENSES AT $15,755. CAP RATE 8.4% *** PERFORMA: CAP RATE 10.55%. *** RENT CAN BE RAISED AT LEAST $150.00 PER MONTH PER UNIT. GROSS YEARLY: $94,800. ANNUAL EXP:$15,755. NET INCOME: $79,045.
Location
State CA
County San Bernardino
Area 273 - Colton
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet, Tile
Fireplaces Type None
Laundry None
Exterior
Garage Assigned
Garage Spaces 1.0
Garage Description 1.0
Pool None
Community Features Urban
Building
Lot Description 6-10 Units/Acre
Story 1
Sewer Septic Tank
Water Public
Others
Acceptable Financing Cash, Cash to New Loan, Conventional, Owner Will Carry, Owner May Carry, Submit
Listing Terms Cash, Cash to New Loan, Conventional, Owner Will Carry, Owner May Carry, Submit
Special Listing Condition Standard
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Bought with James Kuang • Coldwell Banker New Century
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