Pending
540 W Arrow
UPLAND CA, 91786
$1,850,000
$218.91 per sqft
Pending
3 Beds
2 Baths
8,451 sqft
Multi-family
Built in 1960
PRICED TO SELL! Just listed in the highly sought-after community of Upland, priced competitively at $142k per unit. The subject property is comprised of 14 units spread over 8,451 rental square feet, on a spacious 15,400 square foot lot. The unit mix includes one 2-Bedroom/1-Bathroom unit, twelve 1-Bedroom/1-Bathroom units, and a Non-Conforming Studio. This property has been under the same ownership since its original construction, a testament to its long-term value and stability. Tenant amenities include an onsite gated pool, a laundry facility, and ample car-port parking, enhancing its attractiveness in a prime rental location. Additionally, there is significant potential for repositioning the property with an 80% upside in rental income available through strategic management and potential rent adjustments. One unit is currently vacant, offering an immediate opportunity for lease-up at market rate. Additionally, there is an onsite manager though not legally required, and could potentially serve as an additional vacancy to bring to market rate. Notably, all utilities are master metered, with the owner covering costs for water, trash, electricity, and gas, which could be reevaluated by a new investor to optimize operational efficiency. This is an ideal price point for the savvy investor experienced at repositioning value add properties. WE ARE ONLY ACCEPTING CASH OFFERS AT THIS TIME.
CV24237138MR
MLSⓇ ID
November 19, 2024
Listed
December 9, 2024
Updated
Map
540 W Arrow
UPLAND CA, 91786
Interior Features
Total Stories
2
Bedrooms
3
Total Bathrooms
2
Laundry Description
Laundry Area
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.35 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Upland
Days on Market
19
Garage
No
Parking
Carport
Parking Total
0
View
No
County
San Bernardino
Water Source
Public
Pool
Yes
Pool Features
Private
Listing History
Date | Event | Price |
---|---|---|
12/9/2024 | Pending | — |
Listed by Kristopher German with RE/MAX 2000 REALTY
Listing Contact: 626-427-0786
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Data last updated 12/9/2024