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.
Details
| MLS # | IV25250049 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1941 |
| Days On Site | 309 |
| Listing Provided By | LE INVESTMENT GROUP | WAYNE KRENTEL |
Features
| SQ Feet | 5,750 |
|---|---|
| Story(s) | 1 |
| Units | 8 |
| Building(s) | 7 |
| Acreage | 0.17 |
Interior
| Heating | Central |
|---|---|
| Heating Yes / No | Yes |
Exterior
| Lot Features | Two To Five Units Acre |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Cesspool, Septic Type Unknown |
|---|
Location
| Community Features | Biking |
|---|
Area Information
| State | CA |
|---|---|
| County | Riverside |
| City | Cabazon |
| Zip Code | 92230 |
| Area | 263 Banning | Beaumont | Cherry Valley |
| Community Name | OTHR |
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Cabazon |
| Zip Code | 92230 |
| Area | 263 Banning | Beaumont | Cherry Valley |
| Community Name | OTHR |