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Listed by WAYNE KRENTEL • LE INVESTMENT GROUP
$915,000
Est. payment /mo
7,405 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRIV25250049
Year Built 1941
Lot Size 7,405 Sqft
Source California Regional MLS
Property Description
RECENT PRICE IMPROVEMENT - 6.27% CAP RATE 7-Units + Single family home on separate APN. The property consists of a total of Five (5) separate APNs. 526-031-16, 526-031-17, 526-031-18, 526-031-19, & 526-031-006. Highlights: Strong yield with a current CAP Rate of 6.27% with a Pro Forma CAP Rate of 7.08% achievable through market rent adjustments / Current GRM of 10.27 with a Pro Forma GRM of 9.15. Community located at 50292-50330 Ramona Street, a well-located eight-unit multifamily property in Cabazon, California. Built in 1950, this single-story asset consists of seven detached buildings situated on a generous 0.72-acre lot, offering approximately 5,750 square feet of rentable living area. The unit mix features a variety of layouts well-suited for tenants seeking affordability and privacy, including five (5) one-bedroom one-bath units, one (1) two-bedroom one bath unit, one (1) two-bedroom one-bath single-family residence, and one (1) three-bedroom one-and-a-half-bath single-family residence. Most units are detached, providing residents with a more residential feel and reduced density compared to typical multifamily properties. Each unit is separately metered for gas and electricity, minimizing owner-paid utilities.
Location
State CA
County Riverside
Area 263 - Banning/Beaumont/Cherry Valley
Interior
Heating Central Forced Air
Laundry None
Exterior
Pool None
Building
Story One Story
Sewer Cesspool
Water District - Public
Others
Tax ID 526031017
Special Listing Condition Not Applicable
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