7722 Lankershim Avenue, Highland, CA 92346
Triplex · 2 recorded sales since 2022
Sold December 2023
Listing Agent: Tony Burton (DRE #01014173) · Listing Office: Burton Commercial, Inc. · Contact: 951-375-7433 · Bought with: Wayne Wyatt · KELLER WILLIAMS EMPIRE ESTATES · MLS #SW23169370 · Source: CRMLS
About this triplex
This offering is a triplex located in the San Bernardino/Highland area of the Inland Empire. This area is conveniently surrounded by the I-10, the 210, and the I-15 Freeways, making it an easy commute to get to/from Los Angeles and Orange Counties within 30-45 minutes. THIS TRIPLEX HAS THREE 2 BEDROOMS 2 BATHS UNITS!! Having the extra baths in each unit means more money to you and is a super attraction to tenants, and their willingness to pay top rents. Most of the available units in the area have either 1 bedroom's 1 bath's or 2 bedrooms 1 baths, so units having 2 bedrooms 2 baths like this offering are a rarity. Moreover, the short supply of 2 bedroom 2 bath units means those rent will rise quicker!! Please see the RENT COMP (a few blocks away) in the SUPPLEMENTS attached. Please note the 2 bedroom 2 baths are fetching $1,970 rents monthly!!! This complex really performs! Please look at the ANNUAL PROPERTY OPERATING DATA statement, in the SUPPLEMENTS attached, At market rents we're putting out an astounding $70,920 annual gross income, an 8.81 Gross Rent Multiplier, a rarely seen 9.80% Cap Rate, and a robust 21.78% Cash on Cash. Please note we are priced way below the market. In the SUPPLEMENTS attached, there's a nearby triplex sales comp, with an inferior (one 2 bedrooms 1 bath's, and two 1 bedroom's 1 bath's), that recently sold for $650,000. We're three 2 bedrooms 2 baths, and we're asking only $640,000!!! It is very rare to find a triplex in the Inland Empire, with 2 bedrooms 2 baths, for under $700,000. Normally one would have to go out to the for outskirts of the Inland Empire to find this. Here we have a triplex, with 2 bedrooms 2 baths, at the hub of the Inland Empire!!!
Listing description from the December 2023 sale, as reported to CRMLS.
Sale history
