$885,000
$899,000
1.6%For more information regarding the value of a property, please contact us for a free consultation.
509 W Olive AVE Redlands, CA 92373
0.27 Acres Lot
Key Details
Sold Price $885,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC22195657
Sold Date 12/16/22
HOA Y/N No
Year Built 1940
Lot Size 0.274 Acres
Property Sub-Type Quadruplex
Property Description
Calling all investors! If you are seeking a high ROI with substantial growth year after year with a amazing location, don't miss your opportunity to own this Amazing Four-Plex in the rapidly growing Redlands market! Conveniently located on one of the best streets in all of Redlands and within a couple blocks from Downtown Redlands, University of Redlands, Smiley Library, Redlands Bowl and about 1/2 mile from the new Packing House District with restaurants, brewery, distillery, shopping, future rail line and much more! The Units are all large 1 bed/1bath units each with their own separate electric and gas meters, with approximately 638 sqft of living space per unit and sitting on nearly 12,000 sqft lot with 3 garages! Also the Building has completely upgraded Plumbing throughout, including the Main Sewer line as well as having Drought tolerant landscaping that gives the an aesthetic charm with very low water consumption. With 2 units already close to market rent, this property has the ability to produce $1750 per unit or $84,000 per year Income! If location, location location means anything to you, don't miss on the best located multifamily in all of Inland Empire!
Location
State CA
County San Bernardino
Area 268 - Redlands
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 3.0
Garage Description 3.0
Pool None
Community Features Curbs, Sidewalks
Total Parking Spaces 7
Private Pool No
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 0171312140000
Energy Description 300.0
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with Prashant Sampat • Pacific Avenue Realty