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Pleased to present the exclusive offering of 7032 and 7036 Glasgow Avenue, a pair of well-maintained, contiguous single-story fourplex apartment buildings located in San Bernardino, California. Offered collectively at $1,792,000, this eight-unit assemblage represents a compelling acquisition opportunity for both the first-time… Read More multifamily investor seeking a straightforward entry into income property ownership and the seasoned portfolio operator looking to add a low-maintenance, cash-flowing asset in one of Southern California’s most active rental markets.
Each of the two buildings at 7032 and 7036 Glasgow Avenue are situated on two 7,600 square foot parcels for a total of 15,200 square foot lot. Comprised entirely of two-bedroom, one-bathroom floor plans, all 720 square feet. Each unit is individually metered for both gas and electricity, and units also have individual hot water heaters. Both roofs were replaced approximately four years ago and carry a 10-year warranty. All windows across both buildings were replaced approximately three years ago. Units have tile and vinyl plank flooring along with wall heaters and window air conditioners. Residents have access to covered carport parking and street parking. There is an on-site laundry room (owned). 7032 and 7036 Glasgow Avenue are recorded as two separate legal parcels, a buyer has the ability to finance each building independently under its own 30-year fixed-rate conventional mortgage or a single commercial loan.
Situated in the city of San Bernardino in San Bernardino County, 7032 and 7036 Glasgow Avenue occupy a central position within one of the most economically dynamic submarkets in Southern California. The Inland Empire’s emergence as the logistics capital of the Western United States has generated tens of thousands of stable, well-paying jobs. Amazon, Walmart, Stater Bros., and a dense concentration of third-party logistics operators have established major distribution and fulfillment operations along the I-10 and I-15 corridors, creating sustained demand for workforce housing in communities throughout San Bernardino County. For an investor acquiring income property in this market today, the combination of strong in-place fundamentals and favorable long-term demographic trends creates a compelling case for both current cash flow and long-term appreciation. Read Less
Property listed by MARCUS & MILLICHAP, Douglas McCauley 310-259-7556
Listing Snapshot
Days Online
5
Last Updated
Property Type
Apartment
Lot Size
0.35 Acres
Year Built
1964
MLS Number
CV26094919
Additional Details
Building
Built in 1964, 2 buildings, 1 storey, Levels: One, Entry level: 1, Entry location: Drive By
Community
StreetLights, Sidewalks
Expenses
Electric: $400, Gardener: $1,800, Insurance: $6,400, Maintenance: $8,500, Operating: $49,250, Pest Control: $760, Trash: $2,338, Water/Sewer: $5,592, Other Expense: $1,000
Garage
1 spaces
Income
Gross Income: $165,000, Gross ScheduledIncome: $165,000, Net Operating Income: $111,760
Laundry
CommonArea
Lot
0.3489 acres
Parking
7 carport spaces, 8 total parking spaces, Carport, OnSite
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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