860 East 2nd Street

860 East 2nd Street

San Bernardino, CA 92408

$1,400,000
Price
12
Beds
6
Baths
4,488 Sq. Ft.
$312 / Sq. Ft.
4,488
Sq. Ft.
$312
per Sq. Ft.
a view of a house with a porch
a view of car parked in front of house
a car parked in front of a house
a close view of water heater room
a clock on a wall next to a window
a view of a car in front of a house
a view of garden with trees in the background
a view of backyard of house
a view of a house with a big yard potted plants and large tree
a view of entryway with a window and wooden floor
an empty room with wooden floor and windows
a kitchen with granite countertop a refrigerator and cabinets
a view of a kitchen with a sink
a kitchen with granite countertop a sink and a stove
an empty room with wooden floor and windows
a couple of cars parked in front of a house
a front view of a house
a view of car parked in front of house
a house that has a tree in front of it
a view of a house with wooden fence

Description

Cash cow! Introducing an Exceptional Investment Opportunity nestled in the heart of the thriving city of San Bernardino, this 6-unit apartment building presents a lucrative venture for discerning investors. Boasting a remarkable gross annual income of $145,620, this property is a testament to stability and potential growth. The complex features six spacious 2-bedroom, 1-bathroom units, each approximately 700 square feet. With a track record of mostly long-term tenants, this investment is already...Cash cow! Introducing an Exceptional Investment Opportunity nestled in the heart of the thriving city of San Bernardino, this 6-unit apartment building presents a lucrative venture for discerning investors. Boasting a remarkable gross annual income of $145,620, this property is a testament to stability and potential growth. The complex features six spacious 2-bedroom, 1-bathroom units, each approximately 700 square feet. With a track record of mostly long-term tenants, this investment is already a reliable cash cow. Furthermore, the potential for rent increases and the possibility of upgrades &/or expansion add an enticing layer of upside opportunity. One of the key highlights is the property's approval for Section 8 housing, ensuring consistent income streams and a secure investment environment. The units are low-maintenance, making it an ideal option for investors seeking a hassle-free portfolio addition. Convenience is paramount, with the property strategically located for easy access to the 10 Freeway and 215 Freeway. The proximity to schools, shopping centers, and a burgeoning commercial and industrial area, including major Distribution Centers, enhances the property's appeal. The surrounding area is experiencing rapid development, with the nearby city of San Bernardino poised for significant growth. The ambitious Las Vegas speed rail project, a $12 billion initiative, adds a layer of excitement and potential value appreciation to this investment. San Bernardino International Airport is witnessing an expansion in passenger flights, further underlining the area's economic vitality. Investors looking for an opportunity in a dynamic location with a promising future need not look any further. Seize this chance to capitalize on a fully occupied, Section 8-approved, low-maintenance property in the midst of San Bernardino's growth trajectory. This is more than an investment; it's a strategic move towards long-term success in one of Southern California's most promising real estate markets.
  1. Listed by David Prewitt • DRE #01818468 • Brokerage DRE #01526816 • Dream Home Estates, Inc. • 949-395-1707

Property Details for 860 East 2nd Street

Parking Spaces Total
0
Private Pool
No
Cooling Type
Wall/Window
Total Units
6.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
4488
Assessor Parcel Number
0279-281-34-0000

Location

Listing Courtesy of Dream Home Estates, Inc., David Prewitt, DRE #01818468
Add your commute
LISTING UPDATED: 03/20/2024 06:09 AM

Property Details for 860 East 2nd Street

StatusActive
MLS #OC24007969
Days on Market107
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1989
CountySan Bernardino County

Location

Listing Courtesy of Dream Home Estates, Inc., David Prewitt, DRE #01818468
Add your commute

Building Information for 860 East 2nd Street

Building/Complex860 E 2nd StFloor-Stories2Residences-Pet Policy-Year Built1989Building Size-

Payment Calculator

$8,027 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,640

Property Taxes

$387

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 860 East 2nd Street

Rental Info
Rental Info
  • Tenant Pays: All Utilities
Income / Expense / Tax Details
Income Details
  • Gross Income: $145,620
  • Gross Scheduled Income: $145,620
  • Net Operating Income: $126,600
  • Gross Multiplier: 10.0
  • Cap Rate: 8.73
Expense Details
  • Operating Expense: $19,020
  • Gardener Expense: $2,400
  • Fuel Expense: $0
  • Licenses Expense: $360
  • Electric Expense: $360
  • Insurance Expense: $3,600
  • Professional Management Expense: $7,200
  • Trash Expense: $2,400
  • Water Sewer Expense: $2,700
  • Total Expenses: $19,020
Tax / Assessment Info
  • Tax Tract Number: 2523
  • Tax Census Tract: 65.01
  • CFD/Mello-Roos Fee: $1,025
  • Tax Lot: 4
Community / Development
Community / Development
  • Community Features: Gutters, Park, Sidewalks, Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Entry Location: front
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 6
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Conventional Septic
  • Sewer/Septic: Septic Installed
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $1,800
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,050
  • Unit Type Total Rent: $2,050
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,949
  • Unit Type Total Rent: $1,949
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 3
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,886
  • Unit Type Total Rent: $1,886
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 4
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $1,800
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 5
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,050
  • Unit Type Total Rent: $2,050
  • Unit Type Pro Forma: 2100
  • Unit Type Type: 6
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1

Property History for 860 East 2nd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 860 East 2nd Street

Taxable ValueLand$48,292Additions$313,894Total$362,186
Tax Record2023$4,647 ($387 / month)
Home Facts
Total Finished SqFt4,488 SqFtAbove Grade Finished SqFt4,488 SqFtLot Size12,750 SqFtStyleMulti-Family Res (5+ Units)Year Built1989CountySAN BERNARDINOAPN0279-281-34-0000

Schools near 860 East 2nd Street

This home is within San Bernardino City Unified School District.
Rating
School
Type
Grades
Distance
Monterey Elementary School
Public - K to 6
Curtis Middle School
Public - 7 to 8
Indian Springs High
Public - 9 to 12
Ballington Academy For The Arts And Sciences - San Bernardino
Charter - K to 5
Rating
School
Distance
Monterey Elementary School
PublicK to 6

Curtis Middle School
Public7 to 8

Indian Springs High
Public9 to 12

Ballington Academy For The Arts And Sciences - San Bernardino
CharterK to 5

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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More information about 860 East 2nd Street, San Bernardino, CA 92408

860 East 2nd Street is a multi-family home for sale in San Bernardino, CA 92408. This property was listed for sale on January 13, 2024 by Dream Home Estates, Inc., it's currently listed at $1,400,000. It has been on the market for a total of 107 days and was last sold on June 9, 2011. This listing's school district is San Bernardino City Unified School District. Nearby schools include Monterey Elementary School, Curtis Middle School and Indian Springs High. 860 East 2nd Street is a 12-bed, 6-bath, 4,488 sqft multi-family home built in 1989.

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 Dream Home Estates, Inc., David Prewitt, DRE #01818468

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.