1505 Sepulveda Avenue, San Bernardino, CA 92404
Property
Sold May 2024
Listing Agent: ALBERT LE (DRE #01468313) · Listing Office: LE INVESTMENT GROUP · Contact: 909-256-7889 · Bought with: Marlene Lopez · Realty Masters & Associates · MLS #IV24021684 · Source: CRMLS
About this property
HIGHLIGHTS: Competitive Offering with an Actual CAP Rate of 5.34%, with Significant Upside Potential, Projected ProForma CAP Rate of 6.92% / Offering an Actual Gross Rent Multiplier (GRM) of 11.79, with a Projected ProForma GRM of 9.48. The Sandalwood East Apartments, constructed in 1965 on a spacious 0.37-acre corner lot, boast an excellent location ideal for single families. This eight-unit property spans 6,966 sq. ft and comprises four one-bedroom, one bathroom units (1BD/1BA) as well as four oversized two bedroom, two-bathroom units (2BD/2BA). Tenants enjoy the convenience of four two-car garages and two single car garages. Additional amenities include private balconies/patios, individual A/C and heating, and a beautifully landscaped private yard/garden. Demonstrating a strong sense of ownership pride, this property offers prospective buyers an opportunity to acquire an asset with minimal maintenance requirements for decades to come.
Listing description from the May 2024 sale, as reported to CRMLS.
Sale history