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860 E 2nd Street
San Bernardino CA 92408 US

$1,400,000

Active Listing ID OC24007969
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12 bed
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6.00 Bath (6 Full Bath)
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Lot: 12,750.00 Square Feet
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Apartment

$1,400,000

Active Listing ID OC24007969
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860 E 2nd Street CASH COW! Introducing an Exceptional Investment Opportunity nestled in the heart of the thriving city of San Bernardino, this 6-unit apartment building presents a lucrative venture for discerning investors. Boasting a remarkable gross annual income of $145, 620, this property is a testament to stability and potential growth. The complex features six spacious 2-bedroom, 1-bathroom units, each approximately 700 square feet. With a track record of mostly long-term tenants, this investment is already a reliable cash cow. Furthermore, the potential for rent increases and the possibility of upgrades &/or expansion add an enticing layer of upside opportunity. One of the key highlights is the property's approval for Section 8 housing, ensuring consistent income streams and a secure investment environment. The units are low-maintenance, making it an ideal option for investors seeking a hassle-free portfolio addition. Convenience is paramount, with the property strategically located for easy access to the 10 Freeway and 215 Freeway. The proximity to schools, shopping centers, and a burgeoning commercial and industrial area, including major Distribution Centers, enhances the property's appeal. The surrounding area is experiencing rapid development, with the nearby city of San Bernardino poised for significant growth. The ambitious Las Vegas speed rail project, a $12 billion initiative, adds a layer of excitement and potential value appreciation to this investment. San Bernardino International Airport is witnessing an expansion in passenger flights, further underlining the area's economic vitality. Investors looking for an opportunity in a dynamic location with a promising future need not look any further. Seize this chance to capitalize on a fully occupied, Section 8-approved, low-maintenance property in the midst of San Bernardino's growth trajectory. This is more than an investment; it's a strategic move towards long-term success in one of Southern California's most promising real estate markets.

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Property Features

  • Facts
  • Lot Size: 12,750.00 Square Feet
  • Property Type: Residential Multi Family
  • Property Sub-type: Apartment
  • Features
  • Full Bathrooms: 6
  • Cooling System: Window Unit(s) A/C
  • Exterior Finish: Community Features Included: Gutters, Park, Sidewalks, Suburban, 6-10 Units/Acre

Property

  • propertytype: Residential Multi Family
  • propertysubtype: Apartment
  • listprice: 1400000
  • unparsedaddress: 860 E 2nd Street
  • postalcity: San Bernardino
  • stateorprovince: CA
  • country: US
  • postalcode: 92408
  • bathroomsfull: 6
  • bathroomshalf: 0
  • bathroomsonequarter: 0
  • bathroomsthreequarter: 0
  • lotsizeacres: 0.292699724517906
  • lotsizeunits: Square Feet
  • lotsizearea: 12750
  • livingarea: 4488
  • livingareaunits: Square Feet
  • listagentfullname: David Prewitt
  • listagentemail: david@dreamhomeestates.com
  • listagentkey: 3yd-MRMLSCA-SPREWDAV
  • listagentmlsid: SPREWDAV
  • listagentpreferredphone: 9493951707
  • listagentofficephone: 9494154646
  • listofficekey: 3yd-MRMLSCA-OC02826
  • listagentstatelicense: 01818468
  • listofficemlsid: OC02826
  • disclaimer: Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
  • sourcesystemid: MRMLSCA
  • yearbuilt: 1989
  • listingcontractdate: 2024-01-13
  • listagenturl: http://www.DreamHomeEstates.com
  • countyorparish: San Bernardino
  • parcelnumber: 0279281340000
  • cooling: Window Unit(s) A/C
  • numberofunitstotal: 6
  • fireplaceyn: False
  • transactiontype: ForSale
  • storiestotal: 2
  • parkingtotal: 0
  • waterfrontyn: False
  • exteriorfeatures: Community Features Included: Gutters, Park, Sidewalks, Suburban, 6-10 Units/Acre
  • architecturalstyle: Other
  • rooms: Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
  • poolprivateyn: False
  • spayn: False
  • internetaddressdisplayyn: True
  • internetautomatedvaluationdisplayyn: True
  • internetconsumercommentyn: True
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Listing Changed: 3/26/2024 1:45:22 PM GMT
Source Updated Date: 5/4/2024 6:40:30 AM GMT

Courtesy of: David Prewitt, Dream Home Estates, Inc., david@dreamhomeestates.com

Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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