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1414 Citrus St, San Bernardino, CA 92404
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1414 Citrus St San Bernardino, CA 92404

$3,995,000 Sold Price as of 01/22/2020
  • 72 Beds
  • 36 Baths
  • 30,898 Sq.Ft.
Sold
$3,995,000 Sold Price as of 01/22/2020 Refinance Your Mortgage
Map preview of 1414 Citrus St, San Bernardino, CA 92404

Property Overview: 1414 Citrus St San Bernardino, CA has 72 bedrooms, 36 bathrooms, 30,898 living square feet and 48,212 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Highlights; Offering Actual CAP Rate of 5.76% / ProForma CAP Rate of 6.57 %, Offering Actual GRM of 9.72, / Conservative 5-7 % Upside in Potential Rental Income, Extra Large Units 850+ Sq. Ft. Average Cost per Sq. Ft. of $129.30 / Rental Comparables Illustrate a 98% Occupancy Area. Non-Rent Control, The Current Ownership Has Spent $550,000+ In Recent Renovations & Capital Improvements. 25 of 36 Units Have Been Fully Rehabbed., New Roof With 10 Year Warranty. Upgraded granite counter-tops, new cabinetry & luxury vinyl plank flooring in majority of the units. / The Solana Villa Apartments are situated on a large 1.11 acre corner lot. This 36 unit apartment is composed of all two bedroom / one bathroom units. The current ownership's focus has been on quality improvements. The onsite management has implemented strict rental criteria, which in turn has created a more favorable living environment for working class people and families. The property has underwent recent improvements such as: Recent Renovation & Rehabbing $500,000+ In Recent Capital Expenditures, 25 of 36 Units Have Been Completely Rehabbed, 1446 Citrus Has a New Roof With 10 Year Warranty, 1414 Citrus Has 50-75% New Roof, Updated Exterior Paint & Facia Boards, New Interior Paint, Refinished or New Flooring in Rehabbed Units, Updated Kitchens & Bathrooms, Granite Counter tops & New Kitchen Cabinets in Majority of Units, New Windows in Some Units, Repaired / Operational Pool, Assigned Parking Space Per Unit.

Listed by ALBERT LE | BRE #01468313 | LE INVESTMENT GROUP
Last checked: 11 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 248

Home details

Lot Sq. Ft
48,212
HOA Dues
$0/mo
Year built
1963
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
IV19112460
City
San Bernardino
County
San Bernardino
Time on Site
1382 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 36
  • Total # of Buildings: 2
  • # of Electric Meters: 36
  • # of Gas Meters: 36
  • # of Water Meters: 2
Unit Breakdown 1
  • # of Units: 36
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 36
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,000
  • Total Rent: $36,000
  • Pro Forma/Market Rent: $1,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $432,000
  • Net Operating Income: $262,460
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $149,080
  • New Taxes: $52,167
  • Trash: $8,040
  • Insurance: $9,259
  • Professional Management: $20,577
  • Water/Sewer: $9,940

Property Details for 1414 Citrus St

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: Community
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 28
Lot Information
  • Lot Features: 31-35 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 36
  • Parcel Number: 0155451090000
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: 210 Freeway to Del Rosa.
Neighborhood Information
  • Community Features: Street Lights
View more facts & features

Local San Bernardino Agent

Sale History for 1414 Citrus St

Last sold for $1,808,500 on January 22nd, 2020

  • January, 2020

  • Jan 22, 2020

    Date

    Sold

    CRMLS: IV19112460

    $3,995,000

    Price

  • Jan 22, 2020

    Date

    Pending

    CRMLS: IV19112460

    $3,995,000

    Price

  • May 15, 2019

    Date

    Active

    CRMLS: IV19112460

    $3,995,000

    Price

  • January, 2020

  • Jan 22, 2020

    Date

    Sold (Public Records)

    Public Records

    $1,808,500

    Price

  • July, 2018

  • Jul 2, 2018

    Date

    Sold

    CRMLS: IV18033730

    $3,300,000

    Price

  • May 15, 2018

    Date

    Pending

    CRMLS: IV18033730

    $3,425,000

    Price

  • Mar 14, 2018

    Date

    Price Change

    CRMLS: IV18033730

    $3,425,000

    Price

  • Feb 13, 2018

    Date

    Active

    CRMLS: IV18033730

    $3,500,000

    Price

  • Listing provided courtesy of CRMLS

    RECENT PRICE REDUCTION. Seller is motivated. Actual CAP of 7.28% and a GRM of 8.33. Recent Capital Improvements, Under New Management, Property is 100% Occupied and Stabilized / Non-Rent Control Community and Area. Located 5 Minute from San Manuel Indian Casino and 14 Minutes from CSUSB / Rental Comparables Illustrate a 98% Occupancy Area. Neighborhood Has Experienced A Recent Revitalization / 5% Upside in Potential Rental Income. Per Recent Rental Survey Neighboring Rental Comps Reflect Room For Rental Increases / BBQ / Pool Area, Onsite Laundry, Gated and Covered Parking. The Cedarwood Apartments are situated on a large 1.11 acre lot . This thirty six unit apartment community is composed of all two bedroom / one bathroom units. The Apartment community is located in the East Lynwood Drive / Del Rosa Avenue area. The areas real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes. Many of the residences in the East Lynwood Drive / Del Rosa Avenue neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999. Home and apartment vacancy rates are 5-10% East Lynwood Drive / Del Rosa Avenue area. Analysis shows that this rate is lower than 40% of the Neighborhoods in the nation, approximately near the middle range for vacancies.

  • June, 2018

  • Jun 27, 2018

    Date

    Sold (Public Records)

    Public Records

    $3,200,000

    Price

Show More

Tax History for 1414 Citrus St

Assessed Value (2020): $3,329,280
Year Land Value Improved Value Assessed Value
2020 $728,280 $2,601,000 $3,329,280

Home Value Compared to the Market

This property vs the competition

1414 Citrus St sold on January 22, 2020 for 732.29% higher than the current median sold price for the city of San Bernardino which is $480,000. The median sold price per/sqft for San Bernardino is $364 and this home is sold at $129.3 per/sqft which puts the price per square foot 64.48% lower than the current median sale per square foot for the city of San Bernardino.

About 1414 Citrus St

Detailed summary of property

1414 Citrus St is a multi family that recently sold in San Bernardino, CA 92404. This multi family property offered 72 bedrooms, 36 bathrooms, roughly 30,898 living square feet, and sits on an approximately 48,212 square foot lot. 1414 Citrus St was first listed on ArdentRealEstateGroup.com on July 21, 2020. The homeowner sold the property for $3,995,000. Home in San Bernardino are selling for a median price of $480,000 and a median price per square foot of $364. Based on Ardent Real Estate Group's San Bernardino Market Data, this home is sold 732.29% higher than the current median priced home. Local homes that are currently for sale include 246 Fairview St, 246 Fairview St and 284 Chiquita St. While the average home in San Bernardino, CA is selling in 50 days, 1414 Citrus St has a days on market of 248 days. There are currently 380 homes for sale in the San Bernardino real estate market and 340 of them are single family homes while 38 of them are condos and 2 are townhomes. For more information on this home for sale at 1414 Citrus St San Bernardino, CA 92404 contact Ardent Real Estate Group and we will put you in touch with one of our San Bernardino agents.

Public Facts for 1414 Citrus St

Public county record property details
Beds
--
Baths
--
Year built
1963
Sq. Ft.
30,780
Lot Size
48,220
Stories
2
Type
Apartments (Generic)
Pool
Yes
Spa
No
County
San Bernardino
Lot#
9
APN
0155-451-09-0000

The source for these homes facts are from public records.

92404 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$499,950
Median List Price/Sq.Ft.
$319
Median Sold Price
$497,000
Median Sold Price/Sq.Ft.
$327
Total Inventory
115
Median Sale to List Price %
103.56%
Avg Days on Market
19
Loan Type
Conventional (42.42%), FHA (36.36%), VA (6.06%), Cash (9.09%), Other (6.06%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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