540 W Arrow Pending Save Request In-Person Tour Request Virtual Tour
Upland,CA 91786
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
Originating Board Datashare California Regional
Year Built 1960
Lot Size 0.354 Acres
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
Interior
Fireplace No
Laundry Other
Building
Water Public