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Listing 1 out of 191
$759,000 New For Sale

1028 Lombard Drive
Redlands, CA 92374

4 units | Multi Family Home
13939 sq ft - MLS# OC19008261
Property Photo
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Description

We are pleased to offer for sale The Lombard Drive Apartments. This 4 unit "bite size" opportunity should provide and newer and experienced investor stable cash flow and tenant profile due to the desirable unit mix of all 2 bedroom units. Built in 1964, the subject property is situated on a large corner parcel with mature landscaping including citrus trees. The city of Redlands is located in San Bernardino County off of Interstate 10 and is adjacent to the communities of Loma Linda, Yucaipa and San Bernardino. The city is home to the prestigious University of Redlands and is situated just a mile east of the subject property. Strategically positioned in an extremely dense employment area. Major national tenants include: Walmart, Target, CVS Pharmacy, Starbucks, Shell Gas, Five Guys, Chipotle, Five Below, as well as many others that offer the tenant profile many employment opportunities. Located less than five miles south of the subject property are Loma Linda University Surgical Hospital and Redlands Community Hospital, which are both general and surgical facilities with a combined bed count of 876. Additionally, San Bernardino International Airport is located in the Heart of the Inland Empire and within a five-mile radius of the subject property. There are approximately 86,642 individuals residing within a three mile radius of the property and over 219,279 individuals within a five-mile radius.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 92374
  • Year Built: 1964
  • Stories: One
  • Units: 4 units
  • # of Parking Spaces: 4.00
  • Lot Size: 13939 sq ft
  • Area: 268 - Redlands
  • Average 2 Bed Area: 970
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 3880.00
  • Building Area Units: Square Feet
  • Cap Rate: 5.03
  • Common Walls: 1 Common Wall
  • Community Features: Curbs, Mountainous
  • Country: US
  • Directions: North on 680 Freeway - Left on Lombard Ave
  • Electric Expense: 1166.00
  • Fuel Expense: 1166.00
  • Garage Spaces: 4.00
  • Gross Income: 58539.00
  • Gross Multiplier: 12.84
  • Gross Operating Income: 58539.00
  • Gross Scheduled Income: 59112.00
  • Insurance Expense: 1500.00
  • Laundry Features: Area
  • Laundry Income: 1200.00
  • Laundry YN: Yes
  • Listing Agent License: 01316702
  • Listing Office License: 00530854
  • Lot Features: 2-5 Units/Acre, Corner Lot
  • Lot Size Area: 0.3200
  • Lot Size Source: Assessor
  • Lot Size Units: Acres
  • MLS: CRM
  • Maintenance Expense: 3500.00
  • Net Operating Income: 38143.00
  • New Taxes Expense: 8196.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 4
  • Operating Expense: 20396.00
  • Other Expense: 2702.00
  • Parking Features: Assigned
  • Parking YN: Yes
  • Property Attached YN: Yes
  • Roof: Wood
  • Sewer: Public Sewer
  • Total Expenses: 20396.00
  • Trash Expense: 1000.00
  • Water Sewer Expense: 1166.00
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Marcus & Millichap Re Invest, Mark Bridge

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*Contact Information NOT Shared*



The Mission Company
CalBRE #01380867
31258 Endymion Way
Redlands, CA 92373

Eugene Lowmaster
BRE #01512428
909-307-1225 ext. 2

lowmaster210@yahoo.com

The Mission Company, Inc. | BRE 01380867 | NMLS 1562962 | 909-307-1225 office 909-307-1224 fax | lowmaster210@yahoo.com
31258 Endymion Way, Redlands CA 92373
Copyright © 2015. Yolanda Lowmaster, All Rights Reserved