3444-3496 Rainbow Lane

Highland, CA 92346

$1,225,000
Price
4
Beds
10
Baths
5,088 Sq. Ft.
$241 / Sq. Ft.
5,088
Sq. Ft.
$241
per Sq. Ft.

Description

Le Investment Group is proud to present a unique investment opportunity – a portfolio sale featuring a collection of six well maintained condominium units. Built in 1969, these condos have undergone thoughtful interior renovations under the current ownership, ensuring tenants have all modern conveniences. The portfolio comprises two distinct floor plans, adding versatility to the property. Two (2) of the units boast a comfortable 780 square feet of living space, offering a well-designed layout with...Le Investment Group is proud to present a unique investment opportunity – a portfolio sale featuring a collection of six well maintained condominium units. Built in 1969, these condos have undergone thoughtful interior renovations under the current ownership, ensuring tenants have all modern conveniences. The portfolio comprises two distinct floor plans, adding versatility to the property. Two (2) of the units boast a comfortable 780 square feet of living space, offering a well-designed layout with 2 bedrooms and 1 bathroom. Meanwhile, the remaining four (4) units present a slightly larger footprint at 882 square feet, featuring 2 bedrooms and 1.5 bathrooms – providing additional functionality.
  1. Listed by ALBERT LE • DRE #01468313 • Brokerage DRE #01923766 • LE INVESTMENT GROUP • 909-256-7889

Property Details for 3444-3496 Rainbow Lane

Parking Spaces Total
12
Private Pool
No
Total Units
6.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
5088
Assessor Parcel Number
1191-313-45-0000
Property Attached YN
true

Location

Listing Courtesy of LE INVESTMENT GROUP, ALBERT LE, DRE #01468313
Add your commute
LISTING UPDATED: 02/28/2024 05:46 AM

Property Details for 3444-3496 Rainbow Lane

StatusActive
MLS #IV24039157
Days on Market64
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Condominium
Year Built1969
CountySan Bernardino County

Location

Listing Courtesy of LE INVESTMENT GROUP, ALBERT LE, DRE #01468313
Add your commute

Building Information for 3444-3496 Rainbow Lane

Building/Complex3444-3496 Rainbow LnFloor-Stories2Residences-Pet Policy-Year Built1969Building Size-

Payment Calculator

$6,685 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,685

Property Taxes

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3444-3496 Rainbow Lane

Rental Info
Rental Info
  • Tenant Pays: Other
Income / Expense / Tax Details
Income Details
  • Gross Income: $156,000
  • Gross Scheduled Income: $156,000
  • Vacancy Allowance: 6240
  • Gross Operating Income: $156,000
  • Net Operating Income: $91,171
  • Gross Multiplier: 7.85
  • Cap Rate: 7.44
Expense Details
  • Operating Expense: $60,149
  • New Taxes Expense: $15,117
  • Gardener Expense: $0
  • Cable TV Expense: $0
  • Fuel Expense: $0
  • Licenses Expense: $1,200
  • Pest Control Expense: $0
  • Pool Expense: $0
  • Security Expense: $0
  • Furniture Replacement Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $3,240
  • Maintenance Expense: $4,493
  • Professional Management Expense: $5,990
  • Workmans Compensation Expense: $0
  • Other Expense: $28,800
  • Other Expense Description: HOA $400
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Supplies Expense: $0
  • Total Expenses: $60,149
Tax / Assessment Info
  • Tax Tract Number: 7323
  • Tax Lot: 34
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Inside
Exterior Features
  • Entry Location: 1
  • Pool Features: Association
  • Pool Description: Association Pool
Land/Lot Info
  • Additional Parcels Description: 1191-312-31-0000, 1191-312-23-0000, 1191-312-39-0000, 1191-312-19-0000, 1191-312-49-0000
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Multi/Split
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 6
  • Uncovered Spaces: 6
  • Open Other Spaces Total: 6
  • Parking Garage Spaces: 6
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 2
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $2,099
  • Unit Type Total Rent: $4,198
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 4
  • Unit Type Garage Attached: Yes
  • Unit Type Actual Rent: $1,997
  • Unit Type Total Rent: $7,688
  • Unit Type Pro Forma: 2200
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 3
  • Rent Controlled: Yes
  • Number Of Buildings: 6
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 6

Property History for 3444-3496 Rainbow Lane

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 3444-3496 Rainbow Lane

This home is within San Bernardino City Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 1 to 12
Rating
School
Distance
Oehl Elementary School
PublicK to 6

Serrano Middle School
Public7 to 8

San Gorgonio High School
Public9 to 12

Alternative Learning Center
Public1 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.

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3444-3496 Rainbow Lane is a multi-family home for sale in Highland, CA 92346. This property was listed for sale on February 19, 2024 by LE INVESTMENT GROUP, it's currently listed at $1,225,000. This listing's school district is San Bernardino City Unified School District. Nearby schools include Oehl Elementary School, Serrano Middle School and San Gorgonio High School. 3444-3496 Rainbow Lane is a 4-bed, 10-bath, 5,088 sqft multi-family home built in 1969.

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 LE INVESTMENT GROUP, ALBERT LE, DRE #01468313

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.