540 W Arrow
Upland, CA 91786
0.35 acres | #CV24237138
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 investor experienced at repositioning value add properties. WE ARE ONLY ACCEPTING CASH OFFERS AT THIS TIME.
Property Details
- Lot DescriptionZeroToOneUnitAcre
- CountySan Bernardino
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- Original List Price$1,850,000
- MLS #CV24237138
- MLS #CV24237138
- Property SubtypeApartment
- Cost1850000
- Acres0.3535
- Utility SourcePublic
- Year Built1960
- Stories2
Location
Legal
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Kristopher German (#CV33418)
Listing Office: RE/MAX 2000 REALTY (#51247)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
