235 E 7th St - Apartments FOR SALE


San Jacinto, CA 92583
$700,000 USD
951-375-7433
235 E 7th St, San Jacinto, CA for Sale
$700,000 USD
Apartments - FOR SALE
1/24
null | 10.64% Cap Rate

235 E 7th St
San Jacinto, CA 92583


HIGHLIGHTS

  • NEAREST 4PLEX COMP (FOUR 1&1'S) SOLD FOR $780,000! WE ARE ASKING $700,000!!!
  • 8.10 GRM, 10.64% CAP RATE, 26.17% CASH ON CASH!!!
  • GREAT NEIGHBORHOOD, GREAT LOCATION, WALK TO WALMART, STATER BROS, & WALGREENS

OVERVIEW

This 4Plex is located in the City of San Jacinto. The City of San Jacinto is located in the San Jacinto Valley which also includes the City of Hemet. The trade area of the San Jacinto Valley is approximately 200,000 people. This 4Plex is located in an excellent location. It's on 7th street which will take you directly out of town to wherever else your going to within the Inland Empire or Southern California. The immediate location is extremely convenient and within walking distance of Walmart, Stater Bros, and Walgreens. Bus service is right out front on 7th Street. This 4Plex consists of four 2 bedrooms 1 baths. There are tile floors and ceiling fans throughout. There is a laundry room on the property that is currently being used as an maintenance room. The laundry room has hook ups for 2 washers and 2 dryers. There is also carport parking. These units are really, really, nice inside. Recent upgrading and remodeling throughout. Just check out the pictures!!! While tenants actual rents are low, they are month to month and can be raised to market rent through the Just Cause Rule. Tenants are aware the property is for sale and that their rents will be going up to market. One can see market rents AT RENT COMPS in the MARKETING PACKAGE ATTACHED. The rent comp is a half block away. Please note market rents, per rent comp, are $1,800 monthly!! The returns at market rents are robust! At market rents, it's putting out $86,400 annual gross income, an 8.10 GRM, a 10.64% Cap Rate, and an awesome 26.17% Cash on Cash Return. For income, expenses, and returns, PLEASE SEE MARKETING PACKAGE ATTACHED. This is an incredible buy. The closest comp I could find is one mile south at 306 N Buena Vista Street in Hemet. It's inferior in that it's four 1 beds 1 beds (we are four 2 beds 1 baths), and it sold for $780,000!!! Please don't hesitate to reach out with any questions. The Seller want's to do a deal and will look at all offers!!

FOR SALE DETAILS

PRICE

$700,000 USD

PRICE/SF

$189 USD /SF

# OF UNITS

4

PRICE/UNIT

$175,000

CAP RATE

10.64%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4PLEX, 10.46% CAP, 26.17% CASH ON CASH!!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

C2

APN/PARCEL ID

437-081-025

ASK ABOUT THIS PROPERTY

Tony BurtonBurton RealtyMore Info
951-375-7433

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

Tony BurtonBurton RealtyMore Info
951-375-7433

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