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Lili Daniali

Lili Daniali
RE/MAX Champions
DRE# 00999793

909-618-8275
Contact Me

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Listing 6 out of 201
$4,200,000 For Sale

571 Richland Street
Upland, CA 91786

18 units | Multi Family Home
18295 sq ft - MLS# IV18285184
Property Photo
1/9

Description

Property Highlights; Competitive Offering Actual CAP Rate of 4.01 % / Attractive Market ProForma CAP Rate of 4.94 %, Actual GRM of 15.22, With a ProForma GRM of 13.41, Recent Capital Improvements Include; Updated Copper Plumbing Throughout ($50,000), Individual Water Shutoff Valves For All 18 Units, Updated Landscaping Water System. Conservative 5-7 % Upside in Potential Rental Income Non-Rent Control Community & Area. Long Term Tenants With Upside in Potential Rental Income The Apartment is 100 % Occupied & Rental Comparables Illustrate a 98% Occupancy Area. Turn Key Financeable Asset. The Richland Apartments consist of (18) 2-bedroom 1-bath units on a 18,295 square foot lot. The two bedroom units are large and open being nearly 930 square feet each. The asset provides tenants with secured carport parking, storage, updated landscaping and an onsite laundry facility. The property is conveniently located near San Antonio Community Hospital which is the largest employer of Upland. Edison Elementary and Upland High School are within walking distance from this location. Public transportation such and the Upland Metrolink and Ontario Airport are conveniently located minutes away from the Richland Apartments.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 91786
  • Year Built: 1965
  • Stories: Two
  • Units: 18 units
  • # of Parking Spaces: 18.00
  • Lot Size: 18295 sq ft
  • Area: 690 - Upland
  • Appliances: Gas Stove
  • Appliances YN: Yes
  • Average 2 Bed Area: 929
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 16719.00
  • Building Area Units: Square Feet
  • Cap Rate: 4.94
  • Carport Spaces: 18.00
  • Common Walls: 2+ Common Walls
  • Community Features: Sidewalks, Suburban
  • Construction Materials: Stucco, Wood Siding
  • Cooling: Wall Window
  • Cooling YN: Yes
  • Country: US
  • Directions: 10 Fwy exit Euclid Ave. Go North and make a right on E. 7th St., right on S. Sultana Ave.
  • Electric Expense: 1080.00
  • Fence YN: Yes
  • Fencing: Good Condition, Wood, Wrought Iron
  • Fuel Expense: 540.00
  • Gardener Expense: 3911.00
  • Gross Income: 313200.00
  • Gross Multiplier: 13.41
  • Gross Scheduled Income: 313200.00
  • Heating: Wall Heater
  • Heating YN: Yes
  • Insurance Expense: 1916.00
  • Interior Features: Copper Plumbing Full
  • Laundry Features: Community
  • Laundry YN: Yes
  • Listing Agent License: 01468313
  • Listing Office License: 01923766
  • Lot Features: 16-20 Units/Acre, Front Yard, Landscaped, Lawn, Lot Shape-Rectangular, Paved, Sprinklers Drip System
  • Lot Size Area: 18295.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 19644.00
  • Net Operating Income: 207499.00
  • New Taxes Expense: 50228.00
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 18
  • Number Of Separate Gas Meters: 18
  • Number Of Separate Water Meters: 1
  • Operating Expense: 103289.00
  • Property Attached YN: Yes
  • Road Surface Type: Maintained, Paved
  • Roof: Composition
  • Sewer: Public Sewer
  • Stories Total: 2
  • Total Expenses: 103289.00
  • Trash Expense: 4140.00
  • Utilities: Sewer Connected
  • Water Sewer Expense: 5040.00
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Le Investment Group, Albert Le



Lili Daniali | 909-618-8275 | Contact Me
121 S. Mountain Ave - Upland, CA 91765
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