Duplex - LQ - Too Cheap

Multi-Family for Sale
Catylist Listing ID: 30353519
Property Subtypes: Duplex/Fourplex
Number of Units: 2 Units
Building Size (RSF): 2,661 SF
Gross Building Area: See Agent
Sale Price: $400,000
Unit Price: $200,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 7.5%
Average Occupancy Rate: 90
Last Updated: 7/6/2019

Overview / Comments

Rare La Quinta Duplex, 7.5% cap and should be higher. Would make Awesome VRBO in that you could rent out the 6 bedroom gated complex. Updated in March of 2018, Tile, Granite Counter tops, Slate Slab Bath, Pool Mountain Views and short walk to Old Town Restaurants and Shoping and Hiking and all the Festivals. 2600Sqft so 2 1350Sqft units that should rent for $1650 each. Priced where we are going to sell it at. Perfect, 1031 property. At $163 Sqft it is seriously underpriced for LQ.

Both units rented until March 15th 2019 at $1350 and $1380, these should be both $1650+

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Tax ID/APN: 773-215-027
Zoning: MF-2
Percent Occupied: 100%
Property Located Between: Isenhower and Carranza
Total Number of Buildings: 1
Property Condition: Average
Number of Stories: 1
Year Built: 1978
Year Renovated: 2018
Total Parking Spaces: 10

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,213 25,339 113,081
Median Age: 33.08 44.12 41.98
Households: 3,756 9,875 43,461


Photograph of Listing Agent

Dan Ruzicka

HomeSmart Professionals
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