Keegan Cin | Realtor® | License # DRE 01971604

Property

Redlands, CA 92373 304 Eureka Street

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Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717
  • MLS# CV24226046
  • 11/01/2024
  • Request Tour
  • Request Info
  • Beds • 6
  • Baths • 3
  • SQFT • 2,305
  • Year Built • 1887

Home Details

We are proud to exclusively present for sale a 3-unit apartment community located at 304 Eureka Street in the historic downtown district of the city of Redlands. The property is part of a portfolio of multifamily properties all within blocks of one another which includes 304 Eureka Street (3 Units); 108 W Olive Avenue (4 Units); 305 W Olive Avenue (7 Units); and 205 W Fern Avenue (8 Units). All properties can be sold together or individually. 304 Eureka Street is located south of Interstate 10 and is situated between W Clark Street and Fern Avenue, south of Redlands Boulevard. It is walking distance to downtown Redlands, Olive Market, the Redlands Bowl and Smiley Library. It is within biking distance to ESRI (the city’s top employer) and the University of Redlands; and within five miles of Loma Linda University Medical Center. 304 Eureka Street offers convenient access to the 10, 210 and 215 freeways and neighboring cities in the county—Loma Linda, Yucaipa, and Colton. It is located less than 6 miles from the San Bernardino International Airport and just a short drive from Riverside, Ontario, Moreno Valley, and San Bernardino – all major logistic hubs within the region. Several significant local landmarks are also within a short distance, including: Yaamava' Resort & Casino, Big Bear Lake, Lake Arrowhead, the San Bernardino National Forest, Morongo Casino Resort & Spa and more. Built in 1887, 304 Eureka Street is comprised of a two-story house that was legally converted to three apartment units comprising of one one-bedroom/one-bath unit, one two-bedroom/one-bath unit, and one three-bedroom/one-bathroom unit. The property has a lot size of ±11,920 square feet and total rentable square feet of approximately ±2,305 square feet. The units feature built-in cabinetry, high ceilings, ceiling fans, wall air conditioning and heating, and included appliances. The common areas feature lush landscaping with large mature trees, an on-site laundry facility and a detached garage/workshop. 304 Eureka Street is an income-producing property and a great long-term value-add investment opportunity. The property is in a highly desirable area and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.
Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717

Interior Features for 304 Eureka Street

Other Interior Features

Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2

Other Rooms

Entry Level1

General for 304 Eureka Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate3.73
Carport Spaces0.0
Carport Y/NNo
CityRedlands
Community FeaturesCurbs, Sidewalks
CoolingWallWindowUnits
CountySan Bernardino
DirectionsMerge onto I-10 E, Take exit 77A for Alabama St, Turn right onto Tennessee St, Turn left onto W Redlands Blvd, Turn right onto Eureka St
Electric On Property Y/NNo
Entry Location1
Fuel Expense0.0
Garage Spaces0.0
Garage Y/NNo
Gross Income61800.0
HOANo
HOA Fee$0.0
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense2604.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet11920.0
Lot Size UnitsSquareFeet
MLS Area268 - Redlands
MaintenanceExpense3000.0
MobileHomeRemainsYNNo
Net Operating Income33565.0
New ConstructionNo
Number Of Units Total3
Number of Units Leased3
Open Parking Spaces5.0
Operating Expense25145.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot19
Taxes$10,549
Total Actual Rent60600.0
Trash Expense0.0
Water Sewer Expense2657.0
Waterfront Y/NNo
Year Built1887
Year Built SourceAssessor

Exterior for 304 Eureka Street

Building Area Total2305.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwoToFiveUnitsAcre
Lot Size Acres0.2736
Lot Size Area11920.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters3
Number of Separate Gas Meters3
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking5.0
Water SourcePublic

Additional Details

Price History

Alexandra Eston

Sales Associate
Price $900,000
MLS#CV24226046
List Date 11/01/2024
Property Type Multi-Family
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