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5150 N 3Rd Ave, San Bernardino, CA 92407
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5150 N 3Rd Ave San Bernardino, CA 92407

$4,575,000 Sold Price as of 09/10/2021
  • 71 Beds
  • 24 Baths
  • 25,872 Sq.Ft.
Sold
$4,575,000 Sold Price as of 09/10/2021 Refinance Your Mortgage
Map preview of 5150 N 3Rd Ave, San Bernardino, CA 92407

Property Overview: 5150 N 3Rd Ave San Bernardino, CA has 71 bedrooms, 24 bathrooms, 25,872 living square feet and 74,923 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: HIGHLIGHTS; Impressive In-place CAP Rate of 5.91% With a ProForma CAP Rate of 6.91%. Majority government (section 8) tenants. / Current GRM of 10.68 With a ProForma GRM of 9.46 / Markets Rents& Stable Collection Throughout Pandemic. Onsite Management In-place. / Emerging Industry, Coupled With The Creation of New Jobs in San Bernardino Has Contributed to a High Demand For Housing. / Located 1.5 Miles (5 Minutes) from The California State University of San Bernardino. North of the 210 Freeway, Residential Neighborhood. / Property Repairs Completed on a Scheduled Basis Throughout Ownership Without Deferring. / Owner Pay Water & Trash The apartment community located at 5098-5150 North 3rdAvenue in San Bernardino, CA is ideally situated north of the 210 Freeway bordering the San Bernardino foothills. The property is situated on an expansive, fully gated 1.73 acre lot, with cover, secured onsite parking. This twenty-four unit complex is composed of all three bedroom / one bathroom units. (1) unit was converted to a two bedroom with the conversion/addition of a laundry facility. The large units are highly desirable and result in far less turnover with family tenants. The current ownership's has made it a priority to perform routine maintenance and create a strong community cohesion. The professional offsite management was tasked with leasing to well qualified tenants, which has resulted in far less turnover when compared to neighboring apartments. The property(s) centralized location, as well as the range in units sizes, make it an ideal situations for single people or working class families.

Listed by ALBERT LE | BRE #01468313 | LE INVESTMENT GROUP
Last checked: 6 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 46

Home details

Lot Sq. Ft
74,923
HOA Dues
$0/mo
Year built
1985
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
IV21086473
City
San Bernardino
County
San Bernardino
Time on Site
1094 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 24
  • Total # of Buildings: 6
  • # of Electric Meters: 25
  • # of Gas Meters: 25
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 2
  • # of Units: 23
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,595
  • Total Rent: $36,664
  • Pro Forma/Market Rent: $1,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.91%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $457,968
  • Net Operating Income: $289,048
  • Gross Operating Income: --
  • Laundry Income: $7,200
Annual Expense Breakdown
  • Total Operating Expense: $162,381
  • Electric: $2,040
  • Gas/Fuel: $1,980
  • New Taxes: $64,093
  • Trash: $8,040
  • Insurance: $7,200
  • Professional Management: $0
  • Water/Sewer: $3,600

Property Details for 5150 N 3Rd Ave

Interior Features
Laundry Information
  • Has Laundry
  • Community
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 48
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: 24
  • Parcel Number: 0265111170000
  • Year Built Source: Assessor
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Septic Type Unknown
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: West 48th to North 3rd Ave.
Neighborhood Information
  • Community Features: Curbs
View more facts & features

Local San Bernardino Agent

Sale History for 5150 N 3Rd Ave

Last sold for $4,575,000 on September 10th, 2021

  • September, 2021

  • Sep 11, 2021

    Date

    Sold

    CRMLS: IV21086473

    $4,575,000

    Price

  • Aug 26, 2021

    Date

    Pending

    CRMLS: IV21086473

    $4,888,888

    Price

  • Jun 11, 2021

    Date

    Active Under Contract

    CRMLS: IV21086473

    $4,888,888

    Price

  • Apr 24, 2021

    Date

    Active

    CRMLS: IV21086473

    $4,888,888

    Price

  • October, 2018

  • Oct 3, 2018

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • March, 2018

  • Mar 2, 2018

    Date

    Expired

    CRMLS: AR16041552

    $3,350,000

    Price

  • Nov 22, 2016

    Date

    Withdrawn

    CRMLS: AR16041552

    $3,350,000

    Price

  • Apr 13, 2016

    Date

    Price Change

    CRMLS: AR16041552

    $3,350,000

    Price

  • Mar 26, 2016

    Date

    Price Change

    CRMLS: AR16041552

    $3,150,000

    Price

  • Feb 29, 2016

    Date

    Price Change

    CRMLS: AR16041552

    $3,250,000

    Price

  • Listing provided courtesy of CRMLS

    24 townhouse style units all 3 bedroom, 1 bathroom, each unit is approximately 1,070 SF with two parking spaces. Gated community conveniently located to elementary school and walking distance to high school. It is also right next to Cal State San Bernardino.This property consist of 2 APN's 0265-111-17-0000 and 0265-111-18-0000, 6 buildings 12 units on each side and total of 24 units. Both lots are side by side and extremely huge 75,438 SF , building is 25,680 SF. Easy to manage with on site manager, various parking throughout. Some units have been upgraded with newer kitchen cabinets and counter tops. Newer laminated wood floors and tiles in the bathroom.

  • May, 2015

  • May 11, 2015

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 5150 N 3Rd Ave

Assessed Value (2020): $1,172,448
Year Land Value Improved Value Assessed Value
2020 $111,893 $1,060,555 $1,172,448

Home Value Compared to the Market

This property vs the competition

5150 N 3Rd Ave sold on September 10, 2021 for 918.52% 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 $188.96 per/sqft which puts the price per square foot 48.09% lower than the current median sale per square foot for the city of San Bernardino.

About 5150 N 3Rd Ave

Detailed summary of property

5150 N 3Rd Ave is a multi family that recently sold in San Bernardino, CA 92407. This multi family property offered 71 bedrooms, 24 bathrooms, roughly 25,872 living square feet, and sits on an approximately 74,923 square foot lot. 5150 N 3Rd Ave was first listed on ArdentRealEstateGroup.com on May 13, 2021. The homeowner sold the property for $4,575,000. 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 918.52% higher than the current median priced home. Local homes that are currently for sale include 507 29th St, 410 Clubhouse Ave and 4015 Marcus Ave. While the average home in San Bernardino, CA is selling in 50 days, 5150 N 3Rd Ave has a days on market of 46 days. There are currently 373 homes for sale in the San Bernardino real estate market and 337 of them are single family homes while 34 of them are condos and 2 are townhomes. For more information on this home for sale at 5150 N 3Rd Ave San Bernardino, CA 92407 contact Ardent Real Estate Group and we will put you in touch with one of our San Bernardino agents.

Public Facts for 5150 N 3Rd Ave

Public county record property details
Beds
--
Baths
--
Year built
1985
Sq. Ft.
12,936
Lot Size
37,719
Stories
--
Type
Apartments (Generic)
Pool
No
Spa
No
County
San Bernardino
Lot#
2
APN
0265-111-17-0000

The source for these homes facts are from public records.

92407 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$573,900
Median List Price/Sq.Ft.
$358
Median Sold Price
$545,000
Median Sold Price/Sq.Ft.
$354
Total Inventory
111
Median Sale to List Price %
102.83%
Avg Days on Market
39
Loan Type
Conventional (57.5%), FHA (17.5%), VA (10%), Cash (5%), Other (10%)

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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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