Residential Income Details
The “Old University Club” apartments are centrally located in the coveted south Redlands market. High demand rent area provides very little turnover. Collectively a total of 9 units with a mix of studios, one bedrooms and a two bedroom. Rents are under market rates which provides an upside opportunity to a new investor. Located on the south east corner of Fern Ave & Cajon St, directly across from Beaver Medical Group and 3 blocks to downtown Redlands amenities. Generational opportunity to acquire a unique property, with value add potential in a historically high demand rental market. Always re-rented within 1-2 weeks of a turnover. Annual gross income on actual rents is ± $99,180.00 and climbing. Please see attached marketing package or email broker for full income / expense summary.
|Number of Units||9|
|Status||Active Under Contract|
|Listing Brokerage||REGIONCY REAL ESTATE|
|Listing Agent||NATHAN DIONES|
|Listing Agent BRE #||01767311|
Based on information from California Regional Multiple Listing Service, Inc. as of Tuesday, August 14, 2018.
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