CA > Ontario
Ontario, CA 91761,1701 E Fairfield CT
$1,500,000
Est. payment /mo
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0.33 Acres Lot
Pending

1701 E Fairfield CT Ontario, CA 91761

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Bernadette "REALTOR IN RED" Somera

Bernadette "REALTOR IN RED" Somera

+1(619) 931-9854

UPDATED:

11/15/2024 02:38 PM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Pending

Purchase Type For Sale

MLS Listing ID SB24142846

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1980

Annual Tax Amount $13,687

Lot Size 0.325 Acres

Property Description

Presenting a well-maintained two-story quadruplex with an impressive 5.45% cap rate, offering significant income upside and an opportunity to push the cap rate to over 6% within a year. This fully occupied property features four spacious units: one 3-bedroom, 2-bath and 2 car garage unit, and three 2-bedroom, 1.5-bath and 1 car garage units. Three of the units have been upgraded. Each unit is equipped with central air and heat, ensuring year-round comfort for tenants. All units are currently occupied, with one lease secured until July 2025 and the remaining units on a month-to-month basis to provide maximum flexibility for the new owner. Each unit has separate electric and gas meters, its own garage, and laundry hookups. The owner has provided a washer, dryer, and refrigerator in three of the units, which will convey to the buyer. Tenants can enjoy outdoor spaces with either a patio, balcony, or small yard. Ideally situated close to schools, major freeways, shopping centers, restaurants, and more, this property offers convenience and accessibility for all tenants. This is a rare opportunity for investors to acquire a stable, income-producing property with the potential for increased rents and other income through garage rents or RUBS implementation for water, sewer, and trash. Don't miss out on this exceptional investment in a high-demand area. Current low interest rate VA loan may be assumed by military buyer.

Location

State CA

County San Bernardino

Area 686 - Ontario

Interior

Heating Central, Forced Air

Cooling Central Air

Inclusions Washer & Dryer (3 each), Refrigerator (3)

Fireplace No

Laundry In Garage

Exterior

Garage Garage, Garage Faces Side

Garage Spaces 5.0

Garage Description 5.0

Pool None

Community Features Curbs, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View Neighborhood

Total Parking Spaces 5

Private Pool No

Building

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 0216411280000

Security Features Carbon Monoxide Detector(s),Smoke Detector(s)

Acceptable Financing Cash, Cash to New Loan, FHA, Submit, VA Loan

Listing Terms Cash, Cash to New Loan, FHA, Submit, VA Loan

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Natasha Gwilt • eXp Realty of California Inc • 310-667-1664

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Bernadette "REALTOR IN RED" Somera

Agent | License ID: 01377020

+1(619) 931-9854

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1701 E Fairfield CT