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Property

San Bernardino, CA 92407 345 W 41st Street

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Presented By: Eric Chen with CB RICHARD ELLIS; 626-757-5717
  • MLS# CV25115890
  • 05/23/2025
  • Request Tour
  • Request Info
  • Beds • 124
  • Baths • 2
  • SQFT • 62,242
  • Year Built • 1968

Home Details

We are proud to present Mayfield Park Apartments, an 83-unit multifamily property strategically located in San Bernardino, California. Located at 345 W 41st Street, the property is strategically positioned within the high-demand Inland Empire market, offering investors direct access to a strong working-class demographic and significant rental upside potential. Situated between N Newmark Avenue and Lorraine Drive, the property benefits from excellent access to a wide array of amenities, transportation options, and its close proximity to Cal State University San Bernardino. This offering represents a unique chance to acquire a well-located asset with significant potential in an opportunity-rich Inland Empire submarket. Mayfield Park Apartments, constructed in 1968 and situated on a spacious 3.72-acre lot, is a well-maintained, two-story property encompassing 64,242 square feet. Recent capital improvements, including light interior renovations on turned-over units, position the property for significant value add through continued renovations. The community offers a desirable unit mix of one-bedroom/one-bathroom and two-bedroom/one-bathroom residences. Interior unit amenities include AC and heating, a combination of carpet and tile flooring, fully equipped kitchens, modernized bathrooms, ceiling fans, vertical blinds, and security screen doors. Residents can enjoy a range of exterior amenities, including a convenient laundry facility, a sparkling community pool, a welcoming courtyard, a BBQ pit with outdoor seating, well-maintained mature lush landscaping, and ample covered and surface parking. The property offers convenient access to the 210, 215, 91, 60 and 10 freeways. Neighboring cities include Riverside, Highland, Colton, Redlands, Yucaipa, and Loma Linda. Significant local landmarks within a 20-mile radius include: San Bernardino International Airport, Cal State University San Bernardino, Inland Center Mall, Loma Linda University Medical Center, Yaamava’ Resort & Casino, San Bernardino County Museum and University of Redlands to name a few. Offering immediate income and substantial growth potential, Mayfield Park Apartments in San Bernardino presents a compelling investment opportunity. Whether you’re a first-time buyer entering the market, a seasoned investor expanding your portfolio, or executing a 1031 Exchange, this property provides exceptional stability and long-term value in a high-demand market.
Presented By: Eric Chen with CB RICHARD ELLIS; 626-757-5717

Interior Features for 345 W 41st 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 345 W 41st Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.8
Carport Y/NNo
CitySan Bernardino
Community FeaturesCurbs, Sidewalks, Pool
CoolingWallWindowUnits
CountySan Bernardino
DirectionsMerge onto I-215 N toward San Bernardino/Barstow, Use the right lane to take exit 45 toward CA-210 E/Highland, Continue onto CA-259 N, Take exit 1B for E St, urn left onto Lorraine Dr
Electric Expense10175.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense1938.0
Garage Spaces0.0
Garage Y/NNo
Gross Income1452220.0
HOANo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense73332.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet162043.0
Lot Size UnitsSquareFeet
MLS Area274 - San Bernardino
MobileHomeRemainsYNNo
Net Operating Income823309.0
New ConstructionNo
Number Of Units Total83
Number of Units Leased83
Open Parking Spaces70.0
Operating Expense585344.0
Pool FeaturesCommunity, InGround
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 Lot2
Taxes$176,348
Total Actual Rent1426668.0
Trash Expense23990.0
Water Sewer Expense48651.0
Year Built1968
Year Built SourceAssessor
ZoningRM

Exterior for 345 W 41st Street

Building Area Total62242.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLotOver40000Sqft, RectangularLot
Lot Size Acres3.72
Lot Size Area162043.0
Lot Size SourceAssessor
Number of Buildings11
Number of Separate Electric Meters83
Number of Separate Gas Meters83
Number of Separate Water Meters1
Open Parking Y/NNo
Pool Charge3500.0
Private PoolNo
SpaNo
Total Parking142.0
Water SourcePublic
WaterfrontY/NNo

Additional Details

Price History

Justin Hughey

Price $14,200,000
MLS#CV25115890
List Date 05/23/2025
Property Type Multi-Family
Request Tour
Request Info

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