24500 University Avenue

Loma Linda, CA 92354

$990,000
Last Sold Price
5
Beds
4
Baths
2,627 Sq. Ft.
$377 / Sq. Ft.
2,627
Sq. Ft.
$377
per Sq. Ft.

Description

This is an amazing opportunity to own a permitted triplex within the coveted walk zone of Loma Linda University and Medical Center. Zoned R3, originally purchased as an SFR. Found out it was actually a duplex and then an addition was permitted and converted into a 3rd unit. With over 14,000 employees and 4,000 students you will never have to worry about vacancies. The property generates over $67,000 annual income with the rents as follows. $2500 3 Bed/2 bath unit (lease until 4/22), $1100 1 Bed/1...This is an amazing opportunity to own a permitted triplex within the coveted walk zone of Loma Linda University and Medical Center. Zoned R3, originally purchased as an SFR. Found out it was actually a duplex and then an addition was permitted and converted into a 3rd unit. With over 14,000 employees and 4,000 students you will never have to worry about vacancies. The property generates over $67,000 annual income with the rents as follows. $2500 3 Bed/2 bath unit (lease until 4/22), $1100 1 Bed/1 Bath (June 2022) and $2000 for a new 1 Bed/ 1 Bath unit (March 2022) that is fully furnished. Long wide driveway and large backyard. New paint, new floors, new appliances and upgraded fixtures, etc throughout. The property is fully permitted and occupied with all tenants on a lease. Property consists of 2 electric meters, 1 water meter and 1 gas meter. Main unit and fully furnished unit each have their own laundry. Drive by only, please do not disturb tenants.
  1. Listed by DEBRA HANNA • DRE #01473392 • Brokerage DRE #01473392 • DEBRA HANNA BROKER

Property Details for 24500 University Avenue

View
None
Parking Spaces Total
0
Private Pool
No
Cooling Type
Central Forced Air, Wall/Window, Zoned Area(s)
Total Units
3.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
2627

Location

Listing Courtesy of DEBRA HANNA BROKER, DEBRA HANNA, DRE #01473392

Sold By ALL NATIONS REALTY & INVS, RYAN HUTCHISON, DRE #01462648

Add your commute
LISTING UPDATED: 02/27/2022 09:37 AM

Property Details for 24500 University Avenue

StatusClosed
MLS #EV21265083
Days on Market11
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1952
Lot Size0.21 AC / 9,180 SF
CountySan Bernardino County

Location

Listing Courtesy of DEBRA HANNA BROKER, DEBRA HANNA, DRE #01473392

Sold By ALL NATIONS REALTY & INVS, RYAN HUTCHISON, DRE #01462648

Add your commute

Building Information for 24500 University Avenue

Stories1Residences-Year Built1952Building Size-Lot Size0.21 AC / 9,180 SF

Payment Calculator

$6,445 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,403

Property Taxes

$1,042

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 24500 University Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $67,080
  • Vacancy Allowance: 0
  • Gross Operating Income: $67,080
  • Net Operating Income: $55,080
  • Cap Rate: 5.5
  • Current Financing: Conventional
  • Financing: Conventional
Expense Details
  • Operating Expense: $12,000
  • New Taxes Expense: $7,500
  • Fuel Expense: $720
  • Electric Expense: $1,200
  • Insurance Expense: $1,020
  • Other Expense: $600
  • Other Expense Description: wifi
  • Trash Expense: $0
  • Water Sewer Expense: $1,560
  • Total Expenses: $12,600
Tax / Assessment Info
  • Tax Tract Number: 3809
  • Tax Census Tract: 73.03
  • CFD/Mello-Roos Fee: $262
  • Tax Lot: 8
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Verify
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Appliances: Gas Oven, Gas Range, Microwave, Refrigerator, Water Heater
  • Equipment: Dryer, Dryer Included, Gas Dryer Hookup, Inside, Microwave, Refrigerator, Room, Washer, Washer Included
  • Laundry: Yes
  • Laundry Features: Dryer Included, Gas Dryer Hookup, Individual Room, Inside, Washer Included
  • Fireplace Features: Living Room
  • Fireplace Rooms: Living Room
  • Cooling: Central Air, Wall/Window Unit(s), Zoned
  • Heating Type: Central, Zoned
  • Heating: Central, Zoned
  • Heat Equipment: Zoned Areas
  • Flooring: Vinyl, Wood
Exterior Features
  • View Description: None
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: Back Yard, Lot 6500-9999, Sprinklers In Front, Sprinklers In Rear, Yard
  • Number Of Units: 3
  • Land Lease: No
  • Land Lease Type: Fee
  • Road Surface Type: Paved
  • Road Frontage Type: City Street
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Electric: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,500
  • Unit Type Total Rent: $2,500
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,100
  • Unit Type Total Rent: $1,100
  • Unit Type Pro Forma: 1200
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,000
  • Unit Type Total Rent: $2,000
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 3
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 2
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number With Dishwasher: 1
  • Number With Range: 3
  • Number With Refrigerator: 3
  • Number With Disposal: 3
  • Number Wall AC: 1

Property History for 24500 University Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 24500 University Avenue

Taxable ValueLand$302,940Additions$706,860Total$1,009,800
Tax Record2023$12,504 ($1,042 / month)
Home Facts
Beds3Total Finished SqFt1,850 SqFtAbove Grade Finished SqFt1,850 SqFtStories1Lot Size9,180 SqFtStyleSingle Family ResidenceYear Built1952CountySAN BERNARDINOAPN0284-031-01-0000Fireplace TypeHas Fireplace

Schools near 24500 University Avenue

This home is within Redlands Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 7 to 12
Rating
School
Distance
Victoria Elementary School
PublicK to 5

Cope Middle School
Public6 to 8

Redlands Senior High School
Public9 to 12

Grove School
Charter7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of DEBRA HANNA BROKER, DEBRA HANNA, DRE #01473392

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.