1002 Tribune St - Multi-Family FOR SALE


Redlands, CA 92374- North Redlands
$6,750,000 USD
909-418-2071
1002 Tribune St, Redlands, CA for Sale
$6,750,000 USD
Multi-Family - FOR SALE
1/53
null | 4.69% Cap Rate

1002 Tribune St
Redlands, CA 92374
North Redlands


HIGHLIGHTS

  • Prime Redlands Location Near University & Transit: Rare Opportunity to Acquire Several Individual Parcels 1 Mile from University of Redlands
  • Convenient Location: Under 2 Miles from the Citrus Plaza’s Diverse Selection of Big-Name Retailers like Target, Red Robbin, Petco, Chick-Fil-A, Kohls
  • Value-Add Strategy: Capture 41% Rental Growth by Adjusting Rents to Current Market Levels
  • Solid In-Place Returns with Market Rent Upside: Delivers a Stable 4.69% In-Place Cap Rate Based on Current Operations, Complemented by a 12.33 GRM
  • Attractive Unit Mix: Property Features 4, 2.5-Bedroom/1.5- Bathroom Units, 2-Bedroom/2-Bathroom Units, and 4, 3-Bedroom/2-Bathroom Units
  • Property Amenities: Offers Mature Landscaping, Mountain Views, Courtyards, On-Site Laundry, Plus Multiple Parking Options

OVERVIEW

CBRE, Inc., as exclusive advisor, is proud to present an unique investment opportunity in the heart of Redlands: The Los Arboles Apartments. This 25-unit property, located at 1002, 1006, 1016, 1022, and 1028 Tribune Street and 1001 and 1007 Post Street, offers a rare advantage – it comprises seven individually parceled buildings (three triplexes and four fourplexes) situated on a spacious 1.66-acre lot. Built in 1965, the well-maintained complex features pitched composition roofs, and secure iron fencing with entry gates around all but one of the building clusters. The desirable unit mix includes primarily single-story two-bedroom/two-bathroom units, supplemented by townhouse-style two-bedroom/two-bathroom units and three-bedroom/two-bathroom units within two of the fourplexes. Residents benefit from ample parking with 23 garages, 4 carports, and 13 open spaces. The properties boast mature landscaping with lovely mountain views, courtyards, laundry facilities, individual porches or patios, and ample street parking. Units feature fully equipped kitchens with oven ranges, horizontal blinds, AC/ heating, storage space, carpet flooring, spacious floorplans, ample closet space and select units have dishwashers. Strategically positioned near vibrant Downtown Redlands and the University of Redlands, Los Arboles offers investors a stabilized asset with significant structural flexibility and strong location fundamentals. Redlands benefits from a diverse and resilient economy, anchored by major employers in technology (like global GIS leader Esri), logistics (including large distribution centers), healthcare, and education (University of Redlands). This robust employment base consistently attracts a strong workforce, driving sustained demand for rental housing throughout the city. The Los Arboles Apartments offers a central location with convenient access to the Metrolink Downtown Redlands Commuter Rail Station. The property is also nearby to shopping centers, theaters, restaurants, and trendy shops, catering to diverse needs and providing excellent entertainment options. The Los Arboles Apartments is a stable income-producing asset in the Inland Empire, promising a strong return on investment. Whether you’re a first-time investor seeking to enter the market, a seasoned investor looking to expand your portfolio, or considering a 1031 Exchange, this property offers exceptional stability and long-term value.

FOR SALE DETAILS

PRICE

$6,750,000 USD

PRICE/SF

$245 USD /SF

# OF UNITS

25

PRICE/UNIT

$270,000

CAP RATE

4.69%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Los Arboles Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.69 AC

LAND SF

73,572 SF

ZONING

-

APN/PARCEL ID

0169-092-01,0169-092-02,0169-092-03,0169-092-04,0169-092-05,0169-092-09,0169-092-10

ASK ABOUT THIS PROPERTY

Eric ChenCBRE, Inc.More Info
909-418-2071

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Eric ChenCBRE, Inc.More Info
909-418-2071

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.