822 Fairway Drive

    Colton, CA 92324
    • $1,790,000
    • STATUS: Active
    • ON SITE: 238 days
    • ID#: IV18150428
    UPDATED: 17 min ago
    $1,790,000
    • 0
      BEDS
    • 0.45
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,602
      SQFT
    • $208
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2007
    County:
    Area:

    School Ratings & Info

    Description

    Two separate parcels side by side with total of 7 units - Townhouse style units. The lot at 822 Fairway Dr. has 4 units, each unit has 2 bdrms, 2.5 baths. attached 2-car garage & spacious out door balcony on the 2nd floor. The lot at 830 Fairway Dr, has 3 units. Two units have 3 bdrms 2.5 baths, one unit has a 2 bdrms with a bonus room and 2.5 baths. Each unit comes with central air condition & heat system. Each unit has a separate meter for water, electric & gas. The units have minimal operating expenses.There is a great upside income & growth potential. The rents are considerably lower than the market rental rate. The unit are 100% leased, with very stable tenants. Some of the tenants have been residing in the units since the buildings were built, in 2007 & 2008.This is a rare opportunity to own a newer buildings with great upside potential.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-17T18:30:02.89. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.hellerthehomeseller.com/homes/84966197

    822 Fairway Drive Colton, CA 92324

    • Price: $1,790,000
    • Status: Active
    • Updated: 17 min ago
    • ID#: IV18150428
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.45
    Acres
    8,602
    SQFT
    $208
    $/SQFT
    2007
    Built
    Neighborhood:
    273 - Colton
    County:
    San Bernardino
    Area:
    273 - Colton
    Property Description
    Two separate parcels side by side with total of 7 units - Townhouse style units. The lot at 822 Fairway Dr. has 4 units, each unit has 2 bdrms, 2.5 baths. attached 2-car garage & spacious out door balcony on the 2nd floor. The lot at 830 Fairway Dr, has 3 units. Two units have 3 bdrms 2.5 baths, one unit has a 2 bdrms with a bonus room and 2.5 baths. Each unit comes with central air condition & heat system. Each unit has a separate meter for water, electric & gas. The units have minimal operating expenses.There is a great upside income & growth potential. The rents are considerably lower than the market rental rate. The unit are 100% leased, with very stable tenants. Some of the tenants have been residing in the units since the buildings were built, in 2007 & 2008.This is a rare opportunity to own a newer buildings with great upside potential.
    Exterior Features

    Architectural Style Custom Built Construction Materials Drywall WallsStucco Entry Location Ground Floor Fence YN Yes Fencing Wrought Iron Foundation Details Slab Garage Spaces 7.00 Lot Features 2-5 Units/AcreLandscapedSprinkler SystemSprinklers In FrontSprinklers In Rear Lot Size Source Assessor Lot Size Units Square Feet Parking Features Direct Garage Access Parking Total 7.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes Road Frontage Type City Street Roof Tile

    Interior Features

    Appliances DishwasherGarbage DisposalGas RangeGas Water HeaterRange/Stove Hood Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 1000 Average2 Bed Area Units Square Feet Average3 Bed Area 1530 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling CentralElectric Cooling YN Yes Flooring CarpetTile Heating Central FurnaceNatural Gas Heating YN Yes Interior Features BalconyGranite Counters Laundry Features In ClosetWasher Included Levels Two Room Type All Bedrooms UpKitchenMaster BathroomMaster Bedroom Window Features Double Pane WindowsScreens

    Property Features

    Additional Parcels Description 0164-162-26-0000 Additional Parcels YN Yes Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 6.00 Community Features Sidewalks Country Us Electric Standard Electric Expense 300.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 1800.00 Gross Income 0.00 Gross Operating Income 117700.00 Gross Scheduled Income 119500.00 Gross Spendable Income 106900.00 Insurance Expense 2500.00 Land Lease YN No Laundry YN Yes Maintenance Expense 1700.00 Net Operating Income 106900.00 New Construction YN No New Taxes Expense 22000.00 Number Of Separate Electric Meters 9 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 9 Number With Dishwasher 7 Number With Disposal 7 Number With Range 7 Operating Expense 10800.00 Operating Expense Percent 9.00 Professional Management Expense 2400.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasSewerWater Total Expenses 32300.00 Trash Expense 1500.00 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Vacancy Allowance 1800 Vacancy Allowance Rate 1.50 Water Sewer Expense 600.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Ibrahim Ali of Ibrahim H Ali, Broker


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-02-17T18:30:02.89. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
    Heller The Home Seller
    171 Saxony Road, Ste. 205
    Encinitas CA, 92024