889 N Laurel Avenue, Upland, CA 91786

$3,870,000
List Price
$3,870,000
Status
ACTIVE UNDER CONTRACT
MLS#
WS22239000
Year Built
1962
Lot Size
22,443
Acres
0.52
Lot Location
Yard
Days on Market
28
Property Type
Multifamily
Property Sub Type
Apartment
Stories
Two Levels

Property Description

This 18-unit well maintained apartment is located in Upland, a beautiful City in the Southern California Inland Empire. Rents are below market and it has an easy upside potential. Just next to the prosperous Foothill Commercial corridor -- groceries, banks, restaurants, Walmart, Lowe’s, hospital, shopping malls, bus stations, etc., very close to the Historic Downtown Upland, library, farmer’s market and Metro Link station; walking distance to the Upland High School which has an 8 out of 10 of the California School Rank score. The property provides residents a very convenient and versatile Southern California life style. This tranquil garden style two-story property has ± 13,471 SF building, it was built in 1962. It has a good type of combination, five units of 3 beds + 2 baths, six units of 2 beds + 1 bath, four units of 1 bed + 1 bath, and three studios. 16 carport parking spaces, the two studio units don’t have carport, with plenty of the alley and street parking spaces surrounding the property. The public record shows 18 units, included 2 non-permitted studio units which has the ADU possibility per the City Planning Department, please check with City. Other units have individual meters for electricity and gas. Each units has A/C and heater. Laundry room (vendor owns washers and dryers), common area security cameras, new roof last year. Easy access to FWY 10 and 210. This easy manage and value-add lucrative sizable multifamily asset is waiting for an investor who is looking to acquire a real estate with an attractive return and great appreciation over time! Drive by only, please do not disturb tenants or walk on the property, tenants do not know the sale. Inspection/walkthrough will be provided upon accepted offer. Email listing agent for more information. Information deemed reliable but not guaranteed.

Additional Information

Pool Description
None
Sewer
Unknown
Water
Public
Attached Structure
Attached
Number Of Units Total
18
Gross Scheduled Income
$283,860
Operating Expense
107214

Listing courtesy of Listing Agent: DORESA WANG (doresawang@gmail.com) from Listing Office: Palm International Real Estate Inc..

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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.