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2741 Park Ave, San Bernardino, CA 92404
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2741 Park Ave San Bernardino, CA 92404

$3,500,000 Sold Price as of 01/22/2021
  • 46 Beds
  • 35 Baths
  • 17,828 Sq.Ft.
Sold
$3,500,000 Sold Price as of 01/22/2021 Refinance Your Mortgage
Map preview of 2741 Park Ave, San Bernardino, CA 92404

Property Overview: 2741 Park Ave San Bernardino, CA has 46 bedrooms, 35 bathrooms, 17,828 living square feet and 45,455 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are proud to present a fully-repositioned and stabilized 23-unit investment opportunity. This fully rehabbed apartment complex has reset the CAPEX cycle for the next 5-10 years. With 90% of all units are at Current-Market-Rates and which will allow full-upside benefit with AB1482 and not be hindered by low rental rates. The layout consist of 12-Units of 2BD/2BA and 11-Units of 2/1 each with their own Garage.This 6% CAP is calculated with a 35% Expense Ratio and plenty of upside to come. This is a great fit for your 1031 Exchange situation for anyone who wants to upgrade in Asset Class, with low CAPEX forecasted, 80% Newly qualified tenants at Market Rate, and NO COVID Defaults. With New Security Gates with "Keyfobs" entry and Camera & Alarm System. New Rod-Iron Trash-Bin Enclosure and New Decomposed-Granite Landscaping for curb appeal and Safety. On-site property manager's office and Coin Laundry all make up an amazing opportunity for income and growth.

Listed by MANUEL MARQUEZ | BRE #01223058 | Golden California
Last checked: 34 seconds ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 14

Home details

Lot Sq. Ft
45,455
HOA Dues
$0/mo
Year built
1987
Garage
23 Car
Property Type:
Multi Family
Status
Sold
MLS#
IV20231644
City
San Bernardino
County
San Bernardino
Time on Site
1277 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 23
  • Total # of Buildings: 2
  • # of Leased Units: 23
  • # of Electric Meters: 24
  • # of Gas Meters: 24
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 12
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $14,350
  • Total Rent: $14,350
  • Pro Forma/Market Rent: $15,350
Unit Breakdown 2
  • # of Units: 11
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $12,450
  • Total Rent: $12,450
  • Pro Forma/Market Rent: $13,320
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.06%
  • Gross Rent Multiplier: 10.56
  • Gross Scheduled Income: $321,600
  • Net Operating Income: $212,258
  • Gross Operating Income: $315,120
  • Vacancy Allowance: $16,080
  • Laundry Income: $9,600
  • Laundry Own/Lease: Own
Annual Expense Breakdown
  • Total Operating Expense: $102,872
  • Electric: $1,015
  • Gas/Fuel: $0
  • Licenses: $600
  • New Taxes: $44,562
  • Trash: $7,775
  • Insurance: $3,900
  • Maintenance: $9,600
  • Professional Management: $21,386
  • Water/Sewer: $13,074
  • Other Expenses: $960

Property Details for 2741 Park Ave

Interior Features
Laundry Information
  • Has Laundry
  • Dryer Included, Gas Dryer Hookup, Individual Room, Washer Included
Exterior Features
Exterior Information
  • Roof: Composition
  • Has Fence
  • Block, Electric, Excellent Condition
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 23
  • # of Parking Spaces: 23
Lot Information
  • Lot Features: 21-25 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 23
  • Parcel Number: 0272132530000
  • Year Built Source: Public Records
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Date ave and Del Rosa Ave.
Neighborhood Information
  • Community Features: Gutters, Sidewalks
View more facts & features

Local San Bernardino Agent

Sale History for 2741 Park Ave

Last sold for $3,500,000 on January 22nd, 2021

  • January, 2021

  • Jan 23, 2021

    Date

    Sold

    CRMLS: IV20231644

    $3,500,000

    Price

  • Nov 18, 2020

    Date

    Pending

    CRMLS: IV20231644

    $3,500,000

    Price

  • Nov 4, 2020

    Date

    Active

    CRMLS: IV20231644

    $3,500,000

    Price

  • January, 2021

  • Jan 21, 2021

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • April, 2020

  • Apr 24, 2020

    Date

    Sold (Public Records)

    Public Records

    $2,334,000

    Price

Show More

Tax History for 2741 Park Ave

Assessed Value (2020): --
Year Land Value Improved Value Assessed Value
2020 $64,945 -- --

Home Value Compared to the Market

This property vs the competition

2741 Park Ave sold on January 22, 2021 for 629.17% 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 $196.32 per/sqft which puts the price per square foot 46.07% lower than the current median sale per square foot for the city of San Bernardino.

About 2741 Park Ave

Detailed summary of property

2741 Park Ave is a multi family that recently sold in San Bernardino, CA 92404. This multi family property offered 46 bedrooms, 35 bathrooms, roughly 17,828 living square feet, and sits on an approximately 45,455 square foot lot. 2741 Park Ave was first listed on ArdentRealEstateGroup.com on November 4, 2020. The homeowner sold the property for $3,500,000. 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 629.17% higher than the current median priced home. Local homes that are currently for sale include 105 High Dr, 105 High Dr and 385 Mermaid St. While the average home in San Bernardino, CA is selling in 50 days, 2741 Park Ave has a days on market of 14 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 2741 Park Ave 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 2741 Park Ave

Public county record property details
Beds
--
Baths
--
Year built
1987
Sq. Ft.
17,828
Lot Size
12,540
Stories
--
Type
Apartments (Generic)
Pool
No
Spa
No
County
San Bernardino
Lot#
22
APN
0272-132-53-0000

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%)

Thinking of Selling?

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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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