Skip To Content

    5150 5198 N 3rd Avenue

    San Bernardino, CA 92407
    • $4,888,888
    • STATUS: Active Under Contract
    • ON SITE: 99 days
    • ID#: IV21086473
    Under Contract
    $4,888,888
    • 0
      BEDS
    • 1.72
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1985
    County:

    School Ratings & Info

    Description

    HIGHLIGHTS; Impressive In-place CAP Rate of 5.91% With a ProForma CAP Rate of 6.91%. Majority government (section 8) tenants. / Current GRM of 10.68 With a ProForma GRM of 9.46 / Markets Rents& Stable Collection Throughout Pandemic. Onsite Management In-place. / Emerging Industry, Coupled With The Creation of New Jobs in San Bernardino Has Contributed to a High Demand For Housing. / Located 1.5 Miles (5 Minutes) from The California State University of San Bernardino. North of the 210 Freeway, Residential Neighborhood. / Property Repairs Completed on a Scheduled Basis Throughout Ownership Without Deferring. / Owner Pay Water & TrashThe apartment community located at 5098-5150 North 3rdAvenue in San Bernardino, CA is ideally situated north of the 210 Freeway bordering the San Bernardino foothills. The property is situated on an expansive, fully gated 1.73 acre lot, with cover, secured onsite parking. This twenty-four unit complex is composed of all three bedroom / one bathroom units. (1) unit was converted to a two bedroom with the conversion/addition of a laundry facility. The large units are highly desirable and result in far less turnover with family tenants. The current ownership's has made it a priority to perform routine maintenance and create a strong community cohesion. The professional offsite management was tasked with leasing to well qualified tenants, which has resulted in far less turnover when compared to neighboring apartments. The property(s) centralized location, as well as the range in units sizes, make it an ideal situations for single people or working class families.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-08-01T00:28:22.747. 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 or Twiss Realty. Licensed in the State of California, USA.
    www.twissrealty.com/homes/116436158
    Print Image

    5150 5198 N 3rd Avenue San Bernardino, CA 92407

    • Price: $4,888,888
    • Status: Active Under Contract
    • ID#: IV21086473
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.72
    Acres
    1985
    Built
    Neighborhood:
    274 - San Bernardino
    County:
    San Bernardino
    Area:
    274 - San Bernardino
    Property Description
    HIGHLIGHTS; Impressive In-place CAP Rate of 5.91% With a ProForma CAP Rate of 6.91%. Majority government (section 8) tenants. / Current GRM of 10.68 With a ProForma GRM of 9.46 / Markets Rents& Stable Collection Throughout Pandemic. Onsite Management In-place. / Emerging Industry, Coupled With The Creation of New Jobs in San Bernardino Has Contributed to a High Demand For Housing. / Located 1.5 Miles (5 Minutes) from The California State University of San Bernardino. North of the 210 Freeway, Residential Neighborhood. / Property Repairs Completed on a Scheduled Basis Throughout Ownership Without Deferring. / Owner Pay Water & TrashThe apartment community located at 5098-5150 North 3rdAvenue in San Bernardino, CA is ideally situated north of the 210 Freeway bordering the San Bernardino foothills. The property is situated on an expansive, fully gated 1.73 acre lot, with cover, secured onsite parking. This twenty-four unit complex is composed of all three bedroom / one bathroom units. (1) unit was converted to a two bedroom with the conversion/addition of a laundry facility. The large units are highly desirable and result in far less turnover with family tenants. The current ownership's has made it a priority to perform routine maintenance and create a strong community cohesion. The professional offsite management was tasked with leasing to well qualified tenants, which has resulted in far less turnover when compared to neighboring apartments. The property(s) centralized location, as well as the range in units sizes, make it an ideal situations for single people or working class families.
    Exterior Features

    Carport Spaces 48 Carport YN Yes Lot Features 21-25 Units/Acre Number Of Separate Electric Meters 25 Parking Total 48 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Common Walls 1 Common Wall

    Property Features

    Additional Parcels YN No Cap Rate 6.91 Common Interest None Community Features Curbs Electric Expense 2040 Fuel Expense 1980 Garage YN No Gross Income 457968 Gross Scheduled Income 457968 Insurance Expense 7200 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Submit Net Operating Income 289048 New Construction YN No New Taxes Expense 64093 Number Of Separate Gas Meters 25 Number Of Separate Water Meters 1 Operating Expense 162381 Rent Control YN No Senior Community YN No Sewer Septic Type Unknown Special Listing Conditions Standard Tenant Pays ElectricityGas Trash Expense 8040 Water Sewer Expense 3600 Water Source Public

    Listing provided courtesy of Albert Le of Le Investment Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-08-01T00:28:22.747. 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 or Twiss Realty. Licensed in the State of California, USA.
     
    https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365402682-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365402682-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_365402682-2.jpg
    Logo
    Twiss Realty
    5071-A Cole Road
    Mariposa CA, 95338