Colton CA  home offered at $3,500,000 

Call Lisa DiNoto Group at (909)921-2544 to see this home.

 

580 W E Street
Colton, California CA 92324-2173
Sold For: $3,190,000
Listing ID: CV20004356
Price/SqFt: $265.17
Status: Closed
Sold Date: 6/07/2021
SqFt: 12,030 Sq Ft
Acres: 0.517 Acres
Year Built: 1963

580 West E Street is located in a mature, highly desirable, low-traffic neighborhood of Colton. It is a short drive from a variety of shopping venues, restaurants, and medical facilities near historic Colton. The property is centrally located within Colton and offers easy access to the I-10 freeway. Its location offers convenient access to the neighboring cities of Ontario, Rancho Cucamonga, San Bernardino, Redlands and Riverside. Orange County, Los Angeles County, mountain ski resorts and beach cities are all within a 1-hour drive. 580 West E Street is a rare, 2-story, 22-unit property. Built in 1963, the property is situated on a single parcel with a total of ±22,500 square feet of land, with a total building size of ±12,030 square feet. It features an excellent unit mix of studio, one-bed/one-bathroom and two-bedroom/ one-bathroom units averaging 547 square feet. There is significant rental upside to be captured by raising rents to market levels, and additional upside is available through interior and exterior renovations. This property features spacious units arranged in a courtyard layout around the central swimming pool. 580 West E Street is a prime Colton income-producing property and a great long-term investment. The property is in a highly desirable area and offers stability for any type of investor, whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.

Primary Features

County: San Bernardino
Price/SqFt: 265.17
Property Type: Residential Income
Year Built: 1963

Interior

Average 1 Bed Area Units: Square Feet
Average 2 Bed Area Units: Square Feet
Average 3 Bed Area Units: Square Feet
Average Studio Area Units: Square Feet
Building Area Units: Square Feet
Common Walls: 1 Common Wall
Cooling: yes
Cooling Type: Wall/Window Unit(s)
Heating: yes
Heating Type: Wall Furnace
Laundry: yes
Laundry Features: Common Area
Levels: Two

External

Lot Features: 21-25 Units/Acre
Lot Size Area: 22500
Lot Size Source: Assessor
Lot Size Square Feet: 22500
Number Of Buildings: 1
Pool Features: Community
Private Pool: no
Property Attached: yes
Sewer: Public Sewer
Water Source: Public

Location

Country: US
Elevation Units: Feet
MLS Area Major: 273 - Colton

Additional

Additional Parcels: no
Community Features: Curbs, Sidewalks
Days On Market: 134
List Agent State License: 01489184
List Office State License: 00409987
Lot Size Units: Square Feet
New Construction: no
Number Of Separate Electric Meters: 22
Number Of Separate Gas Meters: 1
Number Of Separate Water Meters: 1
Number Of Units Total: 22
Parcel Number: 0162031270000
Senior Community: no
Year Built Source: Assessor

Financial

Cap Rate: 4.63
Electric Expense: 7430
Fuel Expense: 4122
Gardener Expense: 1800
Gross Multiplier: 11.97
Gross Operating Income: 282078
Gross Scheduled Income: 292392
Insurance Expense: 5600
Land Lease: no
Maintenance Expense: 14104
Net Operating Income: 161989
New Taxes Expense: 45787
Operating Expense: 120090
Other Expense: 4400
Other Expense Description: Reserves
Pest Control Expense: 829
Pool Expense: 4268
Professional Management Expense: 18873
Rent Control: yes
Special Listing Conditions: Standard
Tax Block: 60
Tax Census Tract: 66.01
Tax Lot: 11
Tax Tract Number: 010700
Total Expenses: 120090
Trash Expense: 5447
Vacancy Allowance: 14846
Water Sewer Expense: 7430

Zoning Info


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Listed by: ERICCHEN, DRE #01489184 from CB RICHARD ELLIS

Contact - Listing ID CV20004356

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Lisa DiNoto

9483 Haven Ave #100
Rancho Cucamonga, CA 91730
Phone: 9099212544

Data services provided by IDX Broker
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