1396 Detroit Street, Norco, CA 92860

About this property

Rare Find in the City of Norco! 6 unit complex. / Unit mix; all six units are 1 bedroom, 1 bath, est. 500 sq. ft. on units 1396, 1402, 1404, 1406 and 1410 - Unit 1400 approximately 720 sq. ft. Total rental income is $4,400.00 per month. NOTE: Rent increase has been mailed to tenant at unit 1404, August 1, 2014 will reflect the increase, at that time the new total rental income will be $4,450.00 per month, hence a new cap rate of 6.62% and a gross multiplier of 10.97% All units are on a month to month lease except for unit 1410 which is a year lease. Seller says: "buyer has the ability to build two houses if they wish to demolish" Buyer would have to verify with the City of Norco and County of Riverside Planning department of all aspects of the property. Appraisal has been completed, value came in at $722,500.00.

Listing description from the August 2014 sale, as reported to CRMLS.

Sale history

$575,000

Sold August 2014 · listed $599,000, orig. $649,000, on market January 2014 · MLS #IG14008505 · Source: CRMLS

Listing Agent: Alexander Valentin · Listing Office: Century 21 Now Realty · Contact: 951-734-6210 · Bought with: Deborah Llambias · Allison James Estates & Homes

$430,000

Sold December 2013 · listed $562,000, orig. $749,000, on market August 2013 · MLS #IG13155667 · Source: CRMLS

Listing Agent: Alexander Valentin · Listing Office: Century 21 Now Realty · Contact: 951-734-6210 · Bought with: Alexander Valentin · Century 21 Now Realty

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