734 W Virginia, San Bernardino, CA 92405
- $2,399,000
- List Price
- $2,399,000
- Status
- ACTIVE
- MLS#
- IV26126668
- Year Built
- 1950
- Lot Size
- 17,859
- Acres
- 0.41
- Lot Location
- Front Yard
- Days on Market
- 98
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Two Levels
Property Description
Highlights: Current Cap Rate of 5.59% with a 7.99% ProForma Cap Rate. Strong in place return with clear upside through rental increases and improved operations / Current GRM of 11.63 with a 8.62 ProForma GRM / Projected NOI Growth from ~$134K to ~$191K (~43% Increase) Significant income upside driven by repositioning to market rents / Attractive Unit Mix – 100% 2BD/1BA Units (~883 SF Average) Spacious layouts that appeal to working individuals, families, and long-term tenants seeking larger living spaces / Desirable Mix of Single-Story & Townhouse-Style Units. 734 W Virginia Street is an 11-unit apartment property in San Bernardino featuring a mix of four single-story and seven townhouse-style 2-bedroom, 1-bath units averaging approximately 883 square feet. The townhouse units include two-story floorplans with private yards, helping support longer tenancy and lower turnover. Located just south of the 210 Freeway near the San Bernardino foothills, the property offers convenient access to shopping, employment centers, and major transportation routes, along with gated onsite parking on a 0.41-acre lot. The property has been consistently maintained and professionally managed, contributing to a stable tenant base and reduced turnover. With spacious layouts, private outdoor space, and solid in-place income, the asset offers additional upside through future rental growth and presents a strong value-add investment opportunity.
Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 11
- Gross Scheduled Income
- $278,160
- Operating Expense
- 75377
Listing courtesy of Listing Agent: ALBERT LE (albert.le@leinvestmentgroup.com) from Listing Office: LE INVESTMENT GROUP.
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