UPDATED:
11/02/2024 12:24 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision ,Mt Jacinto
MLS Listing ID CV24181611
HOA Y/N No
Year Built 1955
Lot Size 0.640 Acres
Property Description
Situated on a spacious ±0.64-acre corner lot, this property features mostly single-story units and a pitched
composition roof. Built in 1937 / 1955, the building has 8 studio units, 6 one-bedroom units, and two 2-bedroom units.
Over the past 3 years, 11 of the 16 units are updated with new flooring and paint. The property is master metered for electric and gas,
with the owner additionally responsible for water / sewer, and trash. An astute investor has the opportunity
to enhance cash flow by installing sub-meters for electricity. This investment offers solid returns and significant value-add potential in a growing market.
Seller Financing Available at 6% Interest Only for 3 Year. In place cap rate of 6.1% and 9.2 GRM.
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Zoning C2
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplaces Type None
Fireplace No
Laundry None
Exterior
Pool None
Community Features Street Lights
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Total Parking Spaces 16
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 418112011
Energy Description 13030.0
Acceptable Financing Owner May Carry
Listing Terms Owner May Carry
Special Listing Condition Standard
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