540 West Arrow Route
$2,100,000
3
13
8,451
8,451
$248
Closed 12/30/24
Description
Priced to sell! Just listed in the highly sought-after community of Upland, priced competitively at $142k per unit. The subject property is comprised of 14 units spread over 8,451 rental square feet, on a spacious 15,400 square foot lot. The unit mix includes one 2-Bedroom/1-Bathroom unit, twelve 1-Bedroom/1-Bathroom units, and a Non-Conforming Studio. This property has been under the same ownership since its original construction, a testament to its long-term value and stability. Tenant amenities...Priced to sell! Just listed in the highly sought-after community of Upland, priced competitively at $142k per unit. The subject property is comprised of 14 units spread over 8,451 rental square feet, on a spacious 15,400 square foot lot. The unit mix includes one 2-Bedroom/1-Bathroom unit, twelve 1-Bedroom/1-Bathroom units, and a Non-Conforming Studio. This property has been under the same ownership since its original construction, a testament to its long-term value and stability. Tenant amenities include an onsite gated pool, a laundry facility, and ample car-port parking, enhancing its attractiveness in a prime rental location. Additionally, there is significant potential for repositioning the property with an 80% upside in rental income available through strategic management and potential rent adjustments. One unit is currently vacant, offering an immediate opportunity for lease-up at market rate. Additionally, there is an onsite manager though not legally required, and could potentially serve as an additional vacancy to bring to market rate. Notably, all utilities are master metered, with the owner covering costs for water, trash, electricity, and gas, which could be reevaluated by a new investor to optimize operational efficiency. This is an ideal price point for the savvy investor experienced at repositioning value add properties. We are only accepting cash offers at this time.
- Listed by Kristopher German • DRE #01800021 • Brokerage DRE #01264629 • RE/MAX 2000 REALTY • 909-645-0443
- Listed by Cheryleigh Aday • DRE #00974722 • Brokerage DRE #00974722 • HERITAGE REALTY
Property Details for 540 West Arrow Route
Parking Spaces Total
0
Private PoolYes
Total Units13.0
Building TypeAttached
Lot Size SourceAssessor
Living Area8451
Assessor Parcel Number1046-341-19-0000
Property Attached YNtrue
LISTING UPDATED: 12/30/2024 06:22 AM
Property Details for 540 West Arrow Route
Status | Closed |
---|---|
MLS # | CV24237138 |
Days on Market | 19 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1960 |
County | San Bernardino County |
Building Information for 540 West Arrow Route
Building/Complex540 W Arrow RteFloor-Stories2Residences-Pet Policy-Pet Policy Details-Year Built1960Building Size-
Property Information for 540 West Arrow Route
Property History for 540 West Arrow Route
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 540 West Arrow Route
This home is within Upland Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
Public - | 10 to 12 |
Rating | School | Distance |
---|---|---|
Cabrillo Elementary School PublicK to 6 | ||
Upland Junior High School Public7 to 8 | ||
Upland High School Public9 to 12 | ||
Hillside High School Public10 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.
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