This Property is being sold as a 3 property, 138 Unit Total Portfolio. 88 Units at 3681 Cranford Ave, Riverside, 25 Units at 1480 7th St, Riverside, and 25 Units at 25678 Prospect Ave, Loma Linda. The Loma Linda Apartments, 25 apartment units located at 25675 & 25695 Prospect Avenue, Loma Linda, California. Located just a 1 mile south of the 10 freeway and walking distance to VA Hospital. The tenants have excellent access to transportation & employment. The Apartments are located on a quiet cul-de-sac within walking distance to Barton Road which offers numerous retail shopping and restaurants. The unit mix consists of four 1 bedroom/ 1 bathroom & twenty-one 2 bedroom / 2 bath units. Each unit is separately metered for gas and electric. The parking is ample with assigned carport, open & street parking. The local apartment market in the city of Loma Linda remains robust/tight and thus this property offers an investor the ability to capture quality residents seeking a well-located neighborhood with convenient access to a wide variety of retail, transportation and educational amenities with realistic rental upside. This overall demand for well-located work force apartments will be a key driver in the continued growth at 25675 & 25695 Prospect Avenue, Loma Linda, California.
Property Features
Bedrooms
Appliances
- Laundry Features: Community
Bathrooms
Land Info
- Lot Description: 21-25 Units/Acre
- Lot Size Acres: 0.75
- Lot Size Source: Assessor
- Lot Size Square Feet: 32670
Garage and Parking
- Parking Features: Parking YN: Yes, Parking Features: Assigned, Covered
Multi-Unit Info
- Number of Units: 25
- Bedrooms in Unit-1: 1
- Bedrooms in Unit-2: 2
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 2
Rental Info
- Tenant Pays: Electricity, Gas
Amenities and Community Features
- Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights
Other Property Info
- Source Listing Status: Active
- County: San Bernardino
- Cap Rate: 5.50
- Source Property Type: Residential Income
- Insurance Expense: 13695.00
- Area: 267 - Loma Linda
- Source Neighborhood: 267 - Loma Linda
- Number of Separate Electric Meters: 26
- Number of Separate Gas Meters: 26
- Number of Separate Water Meters: 1
- Parcel Number: 0284153130000
- Professional Management Expense: 24000.00
- Trash Expense: 10243.00
- Source System Name: C2C
Commercial Info
- Net Operating Income: 357560.00
Building and Construction
- Total Square Feet Living: 19396
- Year Built: 1972
- Building Features: 1
- Common Walls: 1 Common Wall
- Entry Level: 1
- Entry Location: First
- Property Age: 52
- Property Attached: Yes
- Levels or Stories: Two
- Building Total Stories: 2
- Structure Type: Apartment
- Year Built Source: Assessor
Utilities
- Electric Expense: 4263.00
- Sewer: Sewer: Public Sewer, Water Sewer Expense: 14316.00
- Cable Available
- Natural Gas Connected
- Phone Connected
- Sewer Connected
- Water Connected
- Water Source: Public