$ 1,850,000
540 W Arrow Upland, CA 91786
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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
New
540 W Arrow Upland, CA 91786
0.35 Acres Lot
UPDATED:
11/25/2024 07:20 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRCV24237138
Originating Board California Regional MLS
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 s
Location
State CA
County San Bernardino
Area 690 - Upland
Interior
Laundry Laundry Area
Exterior
Garage Carport
Pool Pool - Yes
Building
Water District - Public
Others
Tax ID 1046341190000
Special Listing Condition Not Applicable
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Listed by Kristopher German • RE/MAX 2000 REALTY