Fontana, CA 92335,14836 Arrow Route

$1,200,000

$1,250,000

4.0%
Est.Price: ?

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Est. payment /mo

0.7 Acres Lot


SOLD DATE : 04/17/2014

Key Details

Sold Price $1,200,000

Property Type Multi-Family

Listing Status Sold

Purchase Type For Sale

MLS Listing ID CV14000553

Sold Date 04/17/14

HOA Y/N No

Year Built 1986

Lot Size 0.697 Acres

Property Description

Arrow Garden Apartments is a rare multi-family investment opportunity located in the city of Fontana’s west region. Currently the rents for two bedrooms are $75 or 7.8% below the market rates of $950/Month. Three bedrooms two baths is $350 or 28% below the market rate of $1,225/month. Upon bringing up the current rents to market rate level, this property will generate an additional $1,050/month income and the annual gross income would be at $120,600. The laundry income is approx. $250/month collected for the owner since the laundry machines are owned. Arrow Gardens Apartments is situated on a rare 30,360 SF lot, with 20 assigned parking plus 2 visitors parking that are well served the tenants. Historically, this apartment building has long term tenants averaged lease term over 5 years. This is an ideal investment opportunity for an investor to own a newer built, pride of ownership type of asset in the west Fontana rental market, with healthy rent increases to apply for higher returns in the next 24 months.

Location

State CA

County San Bernardino

Area 699 - Not Defined

Zoning R3

Interior

Heating Forced Air

Cooling Central Air

Flooring Carpet

Fireplace No

Appliance Gas Cooktop, Disposal

Laundry Common Area

Exterior

Parking Features Assigned, Guest

Pool None

Community Features Suburban

Roof Type Composition

Total Parking Spaces 22

Private Pool No

Building

Lot Description Back Yard, Lawn, Landscaped, Rectangular Lot

Story Two

Entry Level Two

Sewer Septic Tank

Water Public

Architectural Style Patio Home

Level or Stories Two

Others

Tax ID 0230072320000

Security Features Fire Sprinkler System

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Financing Cash to New Loan

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by ERIC CHEN • CB RICHARD ELLIS
Bought with Dalida Lim • Payone Realty
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