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Key Details
Sold Price $925,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CV24108288
Sold Date 08/07/24
HOA Y/N No
Year Built 1930
Lot Size 9,500 Sqft
Property Description
1057 N. La Cadena is a unique multi-family investment property, situated on a desirable corner lot, boasting a total of six spacious units spread across two buildings. The property includes four oversized 1-bedroom/1-bath units and two additional 1-bedroom/1-bath units, offering a versatile and attractive living arrangement for tenants. The four oversized units have the potential to be utilized as two bedroom units given the additional square footage. Each unit is individually metered for gas and electricity, ensuring efficient and fair utility management. The property features ample onsite parking, including six open-space and four garage spaces, catering to the needs of all residents. The onsite garages may serve as an opportunity to convert to ADU(s) (buyer to verify with city.) The stunning Spanish-style architecture adds a unique charm, while the second-floor units benefit from private balconies, providing a personal outdoor space for relaxation. With a remarkable 60% upside in rental income, this property represents a true value-add opportunity for savvy investors looking to maximize their returns.
Location
State CA
County San Bernardino
Area 273 - Colton
Interior
Fireplace No
Laundry None
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 10
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 0161184100000
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Kristopher German • RE/MAX 2000 REALTY
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Monique H. Ott-Beacham
Broker | License ID: DRE #01448692
Broker License ID: DRE #01448692