1424 Springfield St - Apartments FOR SALE


Upland, CA 91786
$1,400,000 USD
909-456-7013
1424 Springfield St, Upland, CA for Sale
$1,400,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

1424 Springfield St
Upland, CA 91786


HIGHLIGHTS

  • First Time on the Market in 40 + Years
  • Four Individually Parceled 4-plexes, Offered Individually or as a Portfolio
  • All Large Two Bedroom / One & Half Bathroom Units ± 1,000 SF
  • AAA Rental Location – Situated north of Foothill Blvd
  • Value Add Opportunity, Current Rents are Estimated ± 26% Below Market
  • Laundry Room, Large Patio in Select Unit(s) & Garage/Open Parking Spaces

OVERVIEW

Marcus & Millichap Real Estate Investment Services is pleased to exclusively present a unique investment opportunity consisting of four individual 4-unit properties located at 1409, 1413, 1424, and 1428 Springfield Street in Upland, California. This portfolio offers an excellent opportunity to purchase the properties individually or as a complete package. Each property is priced at $1,400,000. The properties feature all 2-bedroom, 1.5-bathroom floor plans, providing spacious living units in a highly desirable location. Each unit is individually metered for gas and electricity, with the landlord responsible for water, sewer, and trash. On-site laundry facilities and garage parking add significant value and convenience for tenants. All units are currently leased at $1,600 per month, with potential for over 26% rental upside, creating a significant value-add opportunity for investors. The portfolio also benefits from the potential to install laundry equipment in two of the buildings, further increasing rental income. Each building has two 2-car garages and open parking spaces, providing ample parking for residents. The properties feature well-maintained interiors, with 3 of the 4 units offering enclosed patios and the front unit featuring a fireplace. During ownership, the water lines have been upgraded to copper, ensuring long-term durability and efficiency. Additionally, each building is equipped with a 100-gallon water heater, supporting the needs of the tenants and enhancing operational efficiency. The properties are located in a prime area of Upland, offering both stable cash flow and future upside potential. Investors can choose to acquire one property individually or the entire portfolio for a diversified investment strategy. Please do not Disturb Tenants, Walk and/or Talk to anyone at the property. For Further Information, Please Contact the Listing Agents.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$348 USD /SF

# OF UNITS

4

PRICE/UNIT

$350,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

RM-30

APN/PARCEL ID

1006-522-05

ASK ABOUT THIS PROPERTY

Kevin StruveMarcus & MillichapMore Info
909-456-7013

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Kevin StruveMarcus & MillichapMore Info
909-456-7013

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.