860 E 2Nd St, San Bernardino, CA 92408
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860 E 2Nd St San Bernardino, CA 92408

$1,400,000
  • 12 Beds
  • 6 Baths
  • 4,488 Sq.Ft.
For Sale
$1,400,000 Get Pre-Qualified

Map preview of 860 E 2Nd St, San Bernardino, CA 92408

Property Overview: 860 E 2Nd St San Bernardino, CA has 12 bedrooms, 6 bathrooms, 4,488 living square feet and 12,750 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: CASH COW! Introducing an Exceptional Investment Opportunity nestled in the heart of the thriving city of San Bernardino, this 6-unit apartment building presents a lucrative venture for discerning investors. Boasting a remarkable gross annual income of $145,620, this property is a testament to stability and potential growth. The complex features six spacious 2-bedroom, 1-bathroom units, each approximately 700 square feet. With a track record of mostly long-term tenants, this investment is already a reliable cash cow. Furthermore, the potential for rent increases and the possibility of upgrades &/or expansion add an enticing layer of upside opportunity. One of the key highlights is the property's approval for Section 8 housing, ensuring consistent income streams and a secure investment environment. The units are low-maintenance, making it an ideal option for investors seeking a hassle-free portfolio addition. Convenience is paramount, with the property strategically located for easy access to the 10 Freeway and 215 Freeway. The proximity to schools, shopping centers, and a burgeoning commercial and industrial area, including major Distribution Centers, enhances the property's appeal. The surrounding area is experiencing rapid development, with the nearby city of San Bernardino poised for significant growth. The ambitious Las Vegas speed rail project, a $12 billion initiative, adds a layer of excitement and potential value appreciation to this investment. San Bernardino International Airport is witnessing an expansion in passenger flights, further underlining the area's economic vitality. Investors looking for an opportunity in a dynamic location with a promising future need not look any further. Seize this chance to capitalize on a fully occupied, Section 8-approved, low-maintenance property in the midst of San Bernardino's growth trajectory. This is more than an investment; it's a strategic move towards long-term success in one of Southern California's most promising real estate markets.

Listed by David Prewitt | BRE #01818468 | Dream Home Estates, Inc.
Last checked: 2 minutes ago | Last updated: March 20th, 2024 | Source CRMLS | DOM: 96
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Home details

Lot Sq. Ft
12,750
HOA Dues
$0/mo
Year built
1989
Garage
--
Property Type:
Apartment
Status
Active
MLS#
OC24007969
City
San Bernardino
County
San Bernardino
Time on Site
105 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 6
  • Total # of Buildings: 1
  • # of Electric Meters: 7
  • # of Gas Meters: 7
  • # 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: $1,800
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,050
  • Total Rent: $2,050
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,949
  • Total Rent: $1,949
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,886
  • Total Rent: $1,886
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,800
  • Total Rent: $1,800
  • Pro Forma/Market Rent: $2,100
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,050
  • Total Rent: $2,050
  • Pro Forma/Market Rent: $2,100
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 8.73%
  • Gross Rent Multiplier: 10
  • Gross Scheduled Income: $145,620
  • Net Operating Income: $126,600
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $19,020
  • Electric: $360
  • Gas/Fuel: $0
  • Licenses: $360
  • Trash: $2,400
  • Gardener: $2,400
  • Insurance: $3,600
  • Professional Management: $7,200
  • Water/Sewer: $2,700

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Property Details for 860 E 2Nd St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 6
  • Parcel Number: 0279281340000
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Conventional Septic
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Take North Lena Road or North Tippecanoe Ave to 2nd Street
Neighborhood Information
  • Community Features: Gutters, Park, Sidewalks, Suburban
View more facts & features

Local San Bernardino Agent

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Sale History for 860 E 2Nd St

Last sold for $300,000 on July 29th, 2011
  • January, 2024

  • Jan 13, 2024

    Date

    Active

    CRMLS: OC24007969

    $1,450,000

    Price

  • July, 2011

  • Jul 29, 2011

    Date

    Sold (Public Records)

    Public Records

    $300,000

    Price

  • September, 2005

  • Sep 9, 2005

    Date

    Sold (Public Records)

    Public Records

    $634,000

    Price

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Tax History for 860 E 2Nd St

Assessed Value (2020): $344,552
Year Land Value Improved Value Assessed Value
2020 $45,941 $298,611 $344,552

Home Value Compared to the Market

This property vs the competition

860 E 2Nd St is listed 182.83% higher than the median list price for the city of San Bernardino which has a median list price of $495,000. The median price per/sqft for San Bernardino is $356 and this home is listed at $311.94 per/sqft which puts the price per square foot 12.38% lower than the median price per square foot for the city of San Bernardino.

About 860 E 2Nd St

Detailed summary of property

860 E 2Nd St is a apartment located in San Bernardino, CA 92408 and is currently for sale. This apartment offers 12 bedrooms, 6 bathrooms, roughly 4,488 living square feet, and sits on an approximately 12,750 square foot lot. 860 E 2Nd St was first listed on ArdentRealEstateGroup.com on January 13, 2024. The homeowner is currently asking $1,400,000 and was originally asking $1,450,000. The median priced home in San Bernardino is $495,000 with a median price per square foot of $356. Based on Ardent Real Estate Group's San Bernardino Market Data, this home is listed 182.83% higher than the median priced home. Local competing homes currently for sale include 1097 Richland St, 1185 W Grand Blvd and 774 N 1st Ave. While the average home in San Bernardino, CA is selling in 51 days, 860 E 2Nd St has a days on market of 96 days. There are currently 372 homes for sale in the San Bernardino real estate market and 330 of them are single family homes while 40 of them are condos and 2 are townhomes. For more information on this home for sale at 860 E 2Nd St San Bernardino, CA 92408 contact Ardent Real Estate Group and we will put you in touch with one of our San Bernardino agents.

Public Facts for 860 E 2Nd St

Public county record property details
Beds
--
Baths
--
Year built
1989
Sq. Ft.
4,488
Lot Size
12,750
Stories
--
Type
Apartments (Generic)
Pool
No
Spa
No
County
San Bernardino
Lot#
4
APN
0279-281-34-0000

The source for these homes facts are from public records.

92408 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$535,000
Median List Price/Sq.Ft.
$379
Median Sold Price
$415,000
Median Sold Price/Sq.Ft.
$370
Total Inventory
12
Median Sale to List Price %
103.75%
Avg Days on Market
16
Loan Type
Conventional (0%), FHA (100%), VA (0%), Cash (0%), Other (0%)

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Related Resources to 860 E 2Nd St

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.