271 N Spruce Ave - Apartments FOR SALE


Rialto, CA 92376
$765,000 USD
951-375-7433
271 N Spruce Ave, Rialto, CA for Sale
$765,000 USD
Apartments - FOR SALE
1/19
null | 8.16% Cap Rate

271 N Spruce Ave
Rialto, CA 92376


HIGHLIGHTS

  • SHORT WALKING DISTANCE TO ALL SHOPPING
  • NEAREST TRIPLEX SALES COMP IS $820,000!!! It's three 2 bedrooms, 1 baths.
  • 8.16% CAP, 13.56% CASH ON CASH, AT MARKET RENTS!!

OVERVIEW

This is a really nice triplex!! It's located in one of the highest desired cities in Southern California, Rialto!! It's location is just off of Foothill Blvd, just down the street from the 10 Freeway. It's located in a high pride of ownership neighborhood, consisting mainly of single family residences. This complex is within short walking distance to all shopping including grocery and drug stores. Also close to bus stop! This complex consists of: One 3 bedrooms, 2 baths, and, Two 2 bedrooms, 1 bath's. This mix is ideal because it attracts long term tenants. This complex also has three 1 car garages!! There's a fireplace in the front 3 bedroom unit! While actual rents are low, they are all month to month. So they can be brought up to market rents through the Just Cause Rule or consent. For rent roll and rent comps, PLEASE SEE MARKETING PACKAGE ATTACHED. This offering is really priced right!! While there were no recent sales in Rialto (no multi family owners sell here!), in the next city west, just a few miles away, there's a triplex sale in Fontana!. This sale comp is located at 16000 Dorsey Ave. It sold a few months ago for $820,000. It's inferior to us in that it's only three 2 bedroom's 1 bath's. In contrast, we are one 3 bedrooms 2 baths, and two 2 bedrooms 1 baths!! For details on this comp, PLEASE SEE MARKETING PACKAGE ATTACHED! This triplex really performs! At market rents, it puts out: $72,000 Annual Gross Income A 10.63 Gross Rent Multiplier A 8.16% Cap Rate And a extremely robust double digit 13.56% Cash on Cash!! FOR FINANCIAL DETAILS, PLEASE SEE MARKETING PACKAGE ATTACHED. WE WILL LOOK AT AND RESPOND TO ALL OFFERS! FURTHER, WE GLADLY TAKE A VERBAL OFFER/LETTER OF INTENT SO IT SAVES YOU TIME FOR JUST ASKING IN SUBMITTING YOUR OFFER/PROPOSAL. If/when we get to a deal, we can then get to a formal written contract! Or, you can just submit a formal Offer!! Your choice!!

FOR SALE DETAILS

PRICE

$765,000 USD

PRICE/SF

$314 USD /SF

# OF UNITS

3

PRICE/UNIT

$255,000

CAP RATE

8.16%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

RIALTO TRIPLEX, 8.16% CAP, 13.56% CASH FLOW!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1978

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,536 SF

ZONING

R3, Rialto

APN/PARCEL ID

0128-101-31

ASK ABOUT THIS PROPERTY

Tony BurtonBurton Apartment RealtorsMore Info
951-375-7433

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Tony BurtonBurton Apartment RealtorsMore Info
951-375-7433

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