25675 Prospect Avenue

Loma Linda, CA 92354

$7,000,000
Price
3
Beds
46
Baths
19,396 Sq. Ft.
$361 / Sq. Ft.
19,396
Sq. Ft.
$361
per Sq. Ft.

Description

This Property is being sold as a 3 property, 138 Unit Total Portfolio. 88 Units at 3681 Cranford Ave, Riverside, 25 Units at 1480 7th St, Riverside, and 25 Units at 25678 Prospect Ave, Loma Linda. The Loma Linda Apartments, 25 apartment units located at 25675 & 25695 Prospect Avenue, Loma Linda, California. Located just a 1 mile south of the 10 freeway and walking distance to VA Hospital. The tenants have excellent access to transportation & employment. The Apartments are located on a quiet cul-de-sac...This Property is being sold as a 3 property, 138 Unit Total Portfolio. 88 Units at 3681 Cranford Ave, Riverside, 25 Units at 1480 7th St, Riverside, and 25 Units at 25678 Prospect Ave, Loma Linda. The Loma Linda Apartments, 25 apartment units located at 25675 & 25695 Prospect Avenue, Loma Linda, California. Located just a 1 mile south of the 10 freeway and walking distance to VA Hospital. The tenants have excellent access to transportation & employment. The Apartments are located on a quiet cul-de-sac within walking distance to Barton Road which offers numerous retail shopping and restaurants. The unit mix consists of four 1 bedroom/ 1 bathroom & twenty-one 2 bedroom / 2 bath units. Each unit is separately metered for gas and electric. The parking is ample with assigned carport, open & street parking. The local apartment market in the city of Loma Linda remains robust/tight and thus this property offers an investor the ability to capture quality residents seeking a well-located neighborhood with convenient access to a wide variety of retail, transportation and educational amenities with realistic rental upside. This overall demand for well-located work force apartments will be a key driver in the continued growth at 25675 & 25695 Prospect Avenue, Loma Linda, California.
  1. Listed by Mark Bridge • DRE #01316702 • Brokerage DRE #01316702 • Mark Bridge, Broker • Mark.Bridge@cushwake.com

Property Details for 25675 Prospect Avenue

Parking Spaces Total
0
Private Pool
No
Total Units
25.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
19396
Assessor Parcel Number
0284-153-13-0000
Property Attached YN
true
LISTING UPDATED: 11/14/2024 06:25 AM

Property Details for 25675 Prospect Avenue

StatusActive
MLS #OC24233904
Days on Market2
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1972
CountySan Bernardino County

Building Information for 25675 Prospect Avenue

Building/Complex25675 Prospect AveFloor-Stories2Residences-Pet Policy-Year Built1972Building Size-

Property Information for 25675 Prospect Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $563,659
  • Gross Scheduled Income: $571,320
  • Net Operating Income: $357,560
  • Cap Rate: 5.5
Expense Details
  • Operating Expense: $206,099
  • Fuel Expense: $9,761
  • Electric Expense: $4,263
  • Insurance Expense: $13,695
  • Professional Management Expense: $24,000
  • Trash Expense: $10,243
  • Water Sewer Expense: $14,316
  • Total Expenses: $206,099
Tax / Assessment Info
  • Tax Tract Number: 14339
  • Tax Lot: 1
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Community
Exterior Features
  • Entry Location: First
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 21-25 Units/Acre
  • Number Of Units: 25
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Available, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Electric: Cable Available, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Assigned, Covered
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,823
  • Unit Type Total Rent: $7,291
  • Unit Type Pro Forma: 7580
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 21
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Negotiable
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,920
  • Unit Type Total Rent: $40,319
  • Unit Type Pro Forma: 48195
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 26
  • Number Of Separate Gas Meters: 26
  • Number Of Separate Water Meters: 1

Property History for 25675 Prospect Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 25675 Prospect Avenue

Taxable ValueLand$568,688Additions$2,680,953Total$3,249,641
Tax Record2024$38,305 ($3,192 / month)
Home Facts
Total Finished SqFt19,396 SqFtAbove Grade Finished SqFt19,396 SqFtStories2Lot Size32,849 SqFtStyleMulti-Family Res (5+ Units)Year Built1972CountySAN BERNARDINOAPN0284-153-13-0000

Schools near 25675 Prospect Avenue

This home is within Redlands Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 7 to 12
Rating
School
Distance
Mission Elementary School
PublicK to 5

Cope Middle School
Public6 to 8

Redlands Senior High School
Public9 to 12

Grove School
Charter7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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25675 Prospect Avenue is a multi-family home for sale in Loma Linda, CA 92354. This property was listed for sale on November 11, 2024 by Mark Bridge, Broker, it's currently listed at $7,000,000. It has been on the market for a total of 2 days and was last sold on June 10, 2015. This listing's school district is Redlands Unified School District. Nearby schools include Mission Elementary School, Cope Middle School and Redlands Senior High School. 25675 Prospect Avenue is a 3-bed, 46-bath, 19,396 sqft multi-family home built in 1972.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Mark Bridge, Broker, Mark Bridge, DRE #01316702

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.