26675 Ward Street,  Highland CA, 92346 (Residential Income)

3,901 sqft
Status: Pending
MLS#: IV15248230
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Last Updated: 12/10/2016 10:13 PM
Description for 26675 Ward Street Highland, CA 92346
$25,000 Price reduction! Highlights; Competitive Offering CAP Rate of 6.01% With an Achievable Pro Forma CAP Rate of 6.70%, Competitive Offering GRM of 9.19 With a Pro Forma GRM of 8.93, Conservative 3%-5% Upside in Potential Rental Income Per Rental Survey, Rental Comparables Illustrate a 99 % Occupancy Area, Non-Rent Control Community & Area, Absolute Turn Key, Very Clean & Well Maintained, Financeable Asset. The Ward Street Fourplex is situated on a 7,723 Sq. Ft. Lot. The property is comprised of 4 large two bedroom two bathroom units. The property has been very well maintained throughout the years and reflects a pride of ownership. The City of Highland is among one of the fastest growing communities in the Inland empire. There are currently six developers working on large scale residential developments in the city. Increased occupancy and stabilization have lead to an increase in demand, which has resulted in higher rental prices and returns. Currently less than 20% of dwellings in Highland are designated for multifamily, this factor will continue to contribute to much higher demand for this type of housing in the future. The growth in the City of Highland make this multifamily asset an ideal investment opportunity.
Price
$375,000
San Bernardino
3,901 (approx)
IV15248230
Pending
Description
$25,000 Price reduction! Highlights; Competitive Offering CAP Rate of 6.01% With an Achievable Pro Forma CAP Rate of 6.70%, Competitive Offering GRM of 9.19 With a Pro Forma GRM of 8.93, Conservative 3%-5% Upside in Potential Rental Income Per Rental Survey, Rental Comparables Illustrate a 99 % Occupancy Area, Non-Rent Control Community & Area, Absolute Turn Key, Very Clean & Well Maintained, Financeable Asset. The Ward Street Fourplex is situated on a 7,723 Sq. Ft. Lot. The property is comprised of 4 large two bedroom two bathroom units. The property has been very well maintained throughout the years and reflects a pride of ownership. The City of Highland is among one of the fastest growing communities in the Inland empire. There are currently six developers working on large scale residential developments in the city. Increased occupancy and stabilization have lead to an increase in demand, which has resulted in higher rental prices and returns. Currently less than 20% of dwellings in Highland are designated for multifamily, this factor will continue to contribute to much higher demand for this type of housing in the future. The growth in the City of Highland make this multifamily asset an ideal investment opportunity.
Listing Information
Property Type: Cluster, Other
0.17 Acres 772,300 sq.ft. 3,901 (approx)
$96.13 1964
Yes- 4 spaces
4 Total
Neighborhood
Room Information
Exterior / Lot Features
4 Garage Spaces, 4 Parking Spaces
None
No Pool
Sidewalks, Storm drains
Driving Directions
Cross Streets: Victoria Ave.
Financial Considerations
1192531580000
$42,000 Income ,$17,073Expense
Listing Price History

Highland Real Estate

Highland is located in California. Highland, California 92346 has a population of 53,190.

The median household income in Highland, California 92346 is $57,313. The median household income for the surrounding county is $54,750 compared to the national median of $53,046. The median age of people living in Highland 92346 is 30 years.

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Courtesy: LE INVESTMENT GROUP ALBERT LE
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