Call Lisa DiNoto Group at (909)921-2544 to see this home.
Built in 1993, this pride of ownership property features (1) one bedroom/one bath unit, and (7) two bedroom/one- and three-quarter bath units, ranging in size from 1,000 square feet to 1,370 square feet. Some of the building’s amenities include an onsite laundry facility, central heat & A/C, balconies, storage lockers, fireplaces (3 units) and vaulted ceilings. There is also a secured parking garage with 18 parking spaces, for a more than 2:1 parking ratio. This is an extremely rare and valuable property characteristic for retaining long term tenancy. This property is also individually metered for gas & electricity, and the units have their own water heaters translating to reduced utility costs for the owner. The combination of exceptionally large units, attractive real estate and ample parking presents the investor the opportunity to increase rents by an estimated 20% without the need for substantial capital improvements. This investment opportunity is also located within an "Opportunity Zone" offering a new Buyer the potential to take advantage of special tax programs along with the benefits of being in a gentrifying location. The Seller has suggested he would also entertain carrying the First Trust Deed for a qualified buyer with an approximate 25-30% down payment, fixed rate, interest only payments. For a qualified Buyer, the seller may be open to seller financing. Approximately 25% down payment, 4.5% fixed rate, interest only payments.