26665 Ward Street, Highland, CA 92346  

Huge price reduction! Highlights; Actual Offering CAP Rate of 7.36% on Current Expenses, Pro Forma CAP Rate of 8.16% Once Rents Are Leveled Off, Below Average offering GRM of 8.39 With a Pro Forma GRM of 7.85, 5%-7% Upside in Potential Rental Income, 100 % occupied Property Located in a Non-Rent Control Community & Area, Rental Comparables Illustrate a 99 % Occupancy area, Very Clean & Well Maintained Asset With Improvements Throughout Ownership.The Ward Street apartment community is situated on a 15,446 Sq. Ft. Lot. The apartment complex is composed of eleven studio units. The property has been very well maintained throughout the years and reflects a pride of ownership. The tenants are provided secure onsite parking with detached garages, pool access, & onsite laundry.The City of Highland is among one of the fastest growing communities in the Inland Empire. There are currently six developers working on large scale residential developments in the city. Increased occupancy and stabilization have lead to an increase in demand, which has resulted in higher rental prices and returns. Currently less than 20% of dwellings in Highland are designated for multifamily, this factor will continue to contribute to much higher demand for this type of housing in the future. The growth in the City of Highland make this multifamily asset an ideal investment opportunity.

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Listing Type
Multi-Family
Listing ID
IV17006869
Listing Status
Active
Year Built
1963
County
San Bernardino
Units
11
Garage
9.0
TaxID
1192531570000
Listing courtesy of ALBERT LE~LE INVESTMENT GROUP
Houses for Sale Nearby
    Listing Information Provided By:
    RE/MAX ADVANTAGE
    611 W Redlands Blvd Ste C Redlands, CA 92373 | Phone: (909) 307-5665
    RE/MAX ADVANTAGE is licensed in the state of California CalBRE License #: 01526050
    EACH OFFICE INDEPENDENTLY OWNED AND OPERATED.