7443 Elm Street

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Address: 7443 Elm St, San Bernardino, CA 92410, USA
Created date: July 5, 2024
Date last updated: July 5, 2024
  • Ideal Opportunity to Acquire a 20-Unit Property in Highland with a 5.75% Cap Rate Already In Place
    • Well-Kept ±17,040 SF Property Situated on a Spacious ±26,200 SF Lot Built in 1964
    • Assumable Freddie Mac Loan of Approximately $1,800,000 at 3.47% Fixed Interest Rate through January 2031/30 Year  Amortization (Not Required)
    • Featuring Two-Bedroom Floor Plans | Average Unit Size of 855 Square Feet
    • Value-Add Opportunity; Approximately 18% Rental Upside Potential through Continued Interior & Exterior Renovations
    • Heavily Renovated and Upgraded Property Including: Exterior Paint, Full Roof Replacement, Soft Story Seismic Retrofit, Security Camera System, New Asphalt Overlay, and Reinforced Concrete at Driveway Near Trash Containment
    • Property Features Laundry Facilities, Lovely Mountain Views, Well-Kept Mature Landscaping, On-Site Carport and Ample Street Parking
    • Most Units Have Been Upgraded and Feature, Fully Equipped Kitchens with Dishwashers, Refrigerators, and Oven Ranges, a Combination of Stylish Plank Wood Flooring and Carpet Throughout and Vertical Blinds
    • Highland is Home to a Strong Workforce and Major Regional Distribution Centers Making the Location Attractive to a Consistent Pool of Renters
    • Nearby Landmarks Within 20-Miles Include: San Manuel Stadium, Arrowhead Country Club, First Original McDonald’s Museum, Dignity Health St. Bernardine Medical Center, San Bernardino International Airport, Yaamava’ Resort & Casino, Cal State University San Bernardino, Loma Linda University Medical Center and the University of Redlands

Property Description

CBRE, Inc., as exclusive advisor, is proud to present an exceptional opportunity to acquire a meticulously renovated 20-Unit multifamily property located at 7443 Elm Street in the city of Highland. This ±17,040 SF Building is situated on a generous ±26,200 SF lot. Highland boasts a strong workforce with major regional distribution centers, creating consistent demand for rentals due to the steady influx of residents. Units feature fully equipped kitchens with oven ranges, dishwashers, refrigerators, vertical blinds, wall AC/heating, high-speed Internet and a combination of stylish plank wood and carpet flooring throughout. The property boasts mature landscaping with lovely mountain views, laundry facilities, and onsite carport and ample street parking. 7443 Elm Street offers a central location with convenient access to the Metrolink San Bernardino Commuter Rail Station. The property is also close to shopping centers, theaters, restaurants, and trendy shops, catering to diverse needs and providing excellent entertainment options. 7443 Elm Street is a stable income-producing asset in the Inland Empire, promising a strong return on investment. Whether you’re a first-time investor seeking to enter the market, a seasoned investor looking to expand your portfolio, or considering a 1031 Exchange, this property offers exceptional stability and long-term value.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $4,400,000
No. of Units: 20
Cap Rate: 5.75%
GRM /GIM: 9.1
Year Built: 1964
Building Size: 17,039 Sq ft
Lot Size: 26,200.00 Sq ft
No. of Stories: 2
APN: 0278-121-34
Opportunity Zone: No
Price per unit: $220,000
Parking Spaces: 20
Property Website Click Here
Address: 7443 Elm St, San Bernardino, CA 92410, USA

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent
2B/1B 18 850 1778
2B/2B 2 900 1529

FINANCIAL DETAILS

Income/expense info: Actual
Financial year: 2023
Gross income: 435716
Effective Gross income: 413930
Operating expenses: 160895
Net operating income: 253035
Pre-tax cashflow: 156403

Additional contacts

Full name Phone number Email address
Blake Torgerson 909-418-2074 [email protected]
Kevin Sin 909-837-8852 [email protected]
Hunter Wetton 949-887-5436 [email protected]

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