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Key Details
Sold Price $768,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID IG20223105
Sold Date 02/11/21
HOA Y/N No
Year Built 1960
Lot Size 8,276 Sqft
Property Description
100% Occupied Fourplex with Below market rents and all tenants paying! Rare chance to buy a Fourplex asset in a prime location close Metro at Main, Starbucks and North Main Metrolink! These townhouse style units all feature 2 bedrooms and 1 bath upstairs and a 1/2 bath downstairs. All units are Occupied and all tenants are paying their Full Rent. Phenomenal 5.8 CAP Rate with the ability to further value add. There is also a laundry room that could bring even more income. This is the type of asset you put in a Trust for your children or add to your portfolio. High demand rental area virtually no vacancy. The building has very low operating costs. All units are individually metered for gas and electricity, owner pays water and trash. All tenants have always paid cash. All units have a backyard area and each have a shared garage space for 1 car. Longterm tenants that wish to stay will provide cashflow, depreciation, loan pay down and building appreciation. Below market rents, but for those looking for a repositioning opportunity, this asset offers a big upside in rental income. All buyers Must drive by the property first before making an offer.
Location
State CA
County Riverside
Area 248 - Corona
Zoning R3
Interior
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Outside, See Remarks
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Suburban
Total Parking Spaces 4
Private Pool No
Building
Lot Description Level
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 119084001
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Financing Cash to Loan
Special Listing Condition Standard
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Bought with Joseph Orozco • Keller Williams Realty