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    5150 N 3rd Avenue

    San Bernardino, CA 92407
    • $4,888,888
    • STATUS: ACTIVE
    • ON SITE: 14 days
    • ID#: IV21086473
    $4,888,888
    • 5
      BEDS
    • 1.72
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    HIGHLIGHTS; Impressive In-place CAP Rate of 5.91% With a ProForma CAP Rate of 6.91%. Majority government (section 8) tenants. / Current GRM of 10.68 With a ProForma GRM of 9.46 / Markets Rents& Stable Collection Throughout Pandemic. Onsite Management In-place. / Emerging Industry, Coupled With The Creation of New Jobs in San Bernardino Has Contributed to a High Demand For Housing. / Located 1.5 Miles (5 Minutes) from The California State University of San Bernardino. North of the 210 Freeway, Residential Neighborhood. / Property Repairs Completed on a Scheduled Basis Throughout Ownership Without Deferring. / Owner Pay Water & Trash The apartment community located at 5098-5150 North 3rdAvenue in San Bernardino, CA is ideally situated north of the 210 Freeway bordering the San Bernardino foothills. The property is situated on an expansive, fully gated 1.73 acre lot, with cover, secured onsite parking. This twenty-four unit complex is composed of all three bedroom / one bathroom units. (1) unit was converted to a two bedroom with the conversion/addition of a laundry facility. The large units are highly desirable and result in far less turnover with family tenants. The current ownership's has made it a priority to perform routine maintenance and create a strong community cohesion. The professional offsite management was tasked with leasing to well qualified tenants, which has resulted in far less turnover when compared to neighboring apartments. The property(s) centralized location, as well as the range in units sizes, make it an ideal situations for single people or working cl HIGHLIGHTS; Impressive In-place CAP Rate of 5.91% With a ProForma CAP Rate of 6.91%. Majority government (section 8) tenants. / Current GRM of 10.68 With a ProForma GRM of 9.46 / Markets Rents& Stable Collection Throughout Pandemic. Onsite Management In-place. / Emerging Industry, Coupled With The Creation of New Jobs in San Bernardino Has Contributed to a High Demand For Housing. / Located 1.5 Miles (5 Minutes) from The California State University of San Bernardino. North of the 210 Freeway, Residential Neighborhood. / Property Repairs Completed on a Scheduled Basis Throughout Ownership Without Deferring. / Owner Pay Water & Trash The apartment community located at 5098-5150 North 3rdAvenue in San Bernardino, CA is ideally situated north of the 210 Freeway bordering the San Bernardino foothills. The property is situated on an expansive, fully gated 1.73 acre lot, with cover, secured onsite parking. This twenty-four unit complex is composed of all three bedroom / one bathroom units. (1) unit was converted to a two bedroom with the conversion/addition of a laundry facility. The large units are highly desirable and result in far less turnover with family tenants. The current ownership's has made it a priority to perform routine maintenance and create a strong community cohesion. The professional offsite management was tasked with leasing to well qualified tenants, which has resulted in far less turnover when compared to neighboring apartments. The property(s) centralized location, as well as the range in units sizes, make it an ideal situations for single people or working class families.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
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    5150 N 3rd Avenue San Bernardino, CA 92407

    • Price: $4,888,888
    • Status: ACTIVE
    • ID#: IV21086473
    5
    Beds
    0
    Baths
    0
    ½ Baths
    1.72
    Acres
    Neighborhood:
    San Bernardino (92407)
    County:
    San Bernardino
    Area:
    San Bernardino (92407)
    Property Description
    HIGHLIGHTS; Impressive In-place CAP Rate of 5.91% With a ProForma CAP Rate of 6.91%. Majority government (section 8) tenants. / Current GRM of 10.68 With a ProForma GRM of 9.46 / Markets Rents& Stable Collection Throughout Pandemic. Onsite Management In-place. / Emerging Industry, Coupled With The Creation of New Jobs in San Bernardino Has Contributed to a High Demand For Housing. / Located 1.5 Miles (5 Minutes) from The California State University of San Bernardino. North of the 210 Freeway, Residential Neighborhood. / Property Repairs Completed on a Scheduled Basis Throughout Ownership Without Deferring. / Owner Pay Water & Trash The apartment community located at 5098-5150 North 3rdAvenue in San Bernardino, CA is ideally situated north of the 210 Freeway bordering the San Bernardino foothills. The property is situated on an expansive, fully gated 1.73 acre lot, with cover, secured onsite parking. This twenty-four unit complex is composed of all three bedroom / one bathroom units. (1) unit was converted to a two bedroom with the conversion/addition of a laundry facility. The large units are highly desirable and result in far less turnover with family tenants. The current ownership's has made it a priority to perform routine maintenance and create a strong community cohesion. The professional offsite management was tasked with leasing to well qualified tenants, which has resulted in far less turnover when compared to neighboring apartments. The property(s) centralized location, as well as the range in units sizes, make it an ideal situations for single people or working cl HIGHLIGHTS; Impressive In-place CAP Rate of 5.91% With a ProForma CAP Rate of 6.91%. Majority government (section 8) tenants. / Current GRM of 10.68 With a ProForma GRM of 9.46 / Markets Rents& Stable Collection Throughout Pandemic. Onsite Management In-place. / Emerging Industry, Coupled With The Creation of New Jobs in San Bernardino Has Contributed to a High Demand For Housing. / Located 1.5 Miles (5 Minutes) from The California State University of San Bernardino. North of the 210 Freeway, Residential Neighborhood. / Property Repairs Completed on a Scheduled Basis Throughout Ownership Without Deferring. / Owner Pay Water & Trash The apartment community located at 5098-5150 North 3rdAvenue in San Bernardino, CA is ideally situated north of the 210 Freeway bordering the San Bernardino foothills. The property is situated on an expansive, fully gated 1.73 acre lot, with cover, secured onsite parking. This twenty-four unit complex is composed of all three bedroom / one bathroom units. (1) unit was converted to a two bedroom with the conversion/addition of a laundry facility. The large units are highly desirable and result in far less turnover with family tenants. The current ownership's has made it a priority to perform routine maintenance and create a strong community cohesion. The professional offsite management was tasked with leasing to well qualified tenants, which has resulted in far less turnover when compared to neighboring apartments. The property(s) centralized location, as well as the range in units sizes, make it an ideal situations for single people or working class families.
    Exterior Features

    Pool N/K Site Curbs

    Interior Features

    Total Baths Unit1 1 Total Baths Unit2 1

    Property Features

    Actual Cap Rate 6.91 Annual Expense Actual 162381 Buildings 6 Gross Scheduled Income Actual 457968 Tenant Pays ElectricityGas/Propane Unit Number For Unit1 1 Unit Number For Unit2 2 Unit1 Rent Actual 1500.0 Unit2 Rent Actual 1595.0 Zoning Assessor

    Listing provided courtesy of Le Investment Group. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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