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San Bernardino, CA 92404 1414 Citrus Street

$6,995,000

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Presented By: ALBERT LE with LE INVESTMENT GROUP; 909-256-7889
  • MLS# IV24092349
  • 05/07/2024
  • Request Tour
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  • BedBeds • 72
  • BathBaths • 1
  • FootageSQFT • 30,898

Home Details

Highlights; Attractive Offering Actual CAP Rate of 6.08% / ProForma CAP Rate of 6.70% / ProForma CAP Rate is Based on Leveling Off Current Rents / Extra Large Units 850+ Sq. Ft. All 2-bedroom units / Priced below replacement cost at $226.39 per Sq. Ft. / Rental Comparables Illustrate a 98% Occupancy Area / The Property is Currently 100% Occupied, With Well-Qualified Tenants / Upgraded units with granite countertops, new cabinetry and luxury vinyl plank flooring in majority of the units. / Well-Maintained Onsite Laundry / Providing Additional Annual Income / Ample Onsite Parking With Covered Carport Parking / Property is Fully Fenced The 36-unit apartment complex is situated on a large 1.11 acre corner lot . This 36 unit apartment community is composed of all two bedroom / one bathroom units. The current ownerships focus has been on quality improvements. The onsite management has implemented strict rental criteria, which in turn has created a more favorable living environment for working class people and families. The building currently operates at near 100% occupancy.
Presented By: ALBERT LE with LE INVESTMENT GROUP; 909-256-7889

Interior Features for 1414 Citrus Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsItem1CommonWall
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2

Other Rooms

Entry Level1

General for 1414 Citrus Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate6.08
Carport Y/NNo
CitySan Bernardino
Community FeaturesSuburban
CountySan Bernardino
Days on Market
DirectionsCitrus Street
Electric Expense8000.0
Entry Location1 & 2
Fuel Expense8000.0
Garage Spaces0.0
Garage Y/NNo
Gross Income732240.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense22500.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsSubmit
Lot Size Square Feet48351.6
Lot Size UnitsAcres
MLS Area274 - San Bernardino
MobileHomeRemainsYNNo
Net Operating Income505032.0
New ConstructionNo
NumberOfUnitsTotal36
Open Parking Spaces18.0
Operating Expense148514.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot9
Trash Expense8000.0
View Y/NNo
Water Sewer Expense8000.0
Waterfront Y/NNo
Year Built1963
Year Built SourceAssessor

Exterior for 1414 Citrus Street

Building Area Total30898.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem3640UnitsAcre
Lot Size Acres1.11
Lot Size Area1.11
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters37
Number of Separate Gas Meters37
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking18.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $6,995,000
MLS#IV24092349
List Date 05/07/2024
Property Type Multi-Family
Phone 714.964.3311
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*According to the National Association of Realtors