1140 Oxford Drive, Redlands, CA 92374
- $1,175,000
- List Price
- $1,175,000
- Status
- ACTIVE
- MLS#
- IG26177530
- Year Built
- 1985
- Lot Size
- 12,000
- Acres
- 0.28
- Lot Location
- Near Public Transit, Sprinkler System
- Days on Market
- 2
- Property Type
- Multifamily
- Property Sub Type
- Quadruplex
- Stories
- Two Levels
Property Description
Excellent investment opportunity in the heart Redlands! This well-maintained quadruplex features four separate units, including two spacious 3-bedroom, units and two spacious 2-bedroom units, offering a desirable mix of floor plans. The property has recently been updated with a new roof, new exterior paint, and new PEX plumbing throughout, providing several important improvements for the next owner. Each unit has its own garage and covered carport, providing residents with convenient covered parking, along with additional off-street parking. A centrally located community laundry room adds another convenience for tenants. Excellent value-add opportunity with four spacious units and current gross rental income of $81,288 annually. Actual NOI is $48,358. Current rents offer approximately $2,200 per month in potential upside, providing investors an opportunity to increase income through future rent growth. The property is ideally located with easy access to Downtown Redlands for shopping, dining, and entertainment, along with convenient freeway access and close proximity to the University of Redlands. With four separate units, recent improvements, ample parking, and a desirable location, this property presents an excellent opportunity for an investor looking to add a multifamily property to their portfolio.
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Additional Information
- HOA
- 718
- Frequency
- Monthly
- Association Amenities
- Maintenance Grounds, Trash, Utilities
- Appliances
- Dishwasher, Disposal, Gas Range, Water Heater
- Pool Description
- None
- Fireplace Description
- Gas, Living Room
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- View
- Mountain(s), Neighborhood
- Roof
- Composition
- Garage Spaces Total
- 4
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 4
- Gross Scheduled Income
- $81,288
- Operating Expense
- 32930
Listing courtesy of Listing Agent: Joe Marroquin (escrowjoe@gmail.com) from Listing Office: Realty Masters & Associates.
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