We estimate the current rents are 26% below market rents. This translates into a potential 26% increase in rental revenue!
ADU Potential
Potentially add ADUs in the front, back and/or parking area which would increase further increase the ROI. Buyer to investigate this potential.
Opportunity Zone
Located within a designated Opportunity Zone, offering potential investors favorable tax incentives including tax-deferred and tax-free capital gain treatment when structured through a Qualified Opportunity Fund.
Two Fourplexes = Residential Financing!
This is a rare opportunity to purchase eight units with residential financing, as each four-plex is on its own parcel. This allows for a lower down payment and a reduced interest rate compared to typical 5+ unit financing. Also, potential for FHA financing which is very attractive financing with a low down payment.
Excellent Parking
Each tenant has their own carport, which is a huge advantage over competing apartments in the area. Buyer can unlock the untapped potential for increased ROI by the possibility of enclosing these carports to elevate the rental income.
Gate Ready
The property is gated-ready. The existing chain link gate can be easily replaced with a beautiful iron gate at the front.
The property is located in downtown San Bernardino, a historic area known for its diverse cultural attractions and vibrant community events. Nearby landmarks include the California Theatre of the Performing Arts and the San Bernardino History and Railroad Museum.
The neighborhood around the property features a mix of residential, commercial, and entertainment establishments. There are local shops, restaurants, and cafes within walking distance, providing convenience and amenities for residents and visitors.
San Bernardino is home to several educational institutions, including California State University, San Bernardino, which is a short drive away from the property. This proximity to higher education facilities can attract students and faculty as potential tenants or customers.
The property's location offers easy access to major transportation routes, such as Interstate 215 and the Metrolink commuter rail system. This connectivity can benefit businesses looking to serve a wide customer base or commuters seeking accessible transport options.
San Bernardino is known for its rich history and cultural heritage, with annual events like the Route 66 Rendezvous and the National Orange Show bringing in visitors from across the region. The property's location in this dynamic city can provide opportunities for businesses to engage with the local community and participate in these events.
