2352 Leroy St - Apartments FOR SALE


San Bernardino, CA 92404- Wilson
$5,800,000 USD
909-418-2071
2352 Leroy St, San Bernardino, CA for Sale
$5,800,000 USD
Apartments - FOR SALE
1/53
null | 5.01% Cap Rate

2352 Leroy St
San Bernardino, CA 92404
Wilson


HIGHLIGHTS

  • Solid Rental Location in the City of San Bernardino
  • Well Maintained Property Situated on Large 43,549 SF Lot
  • Excellent Unit Mix of One- & Two-Bedroom Units | Average Unit Size of 743 Square Feet
  • Historically High Occupancy
  • Value-Add Opportunity | Approximately 27% Rental Upside Potential through Continued Interior & Exterior Renovations
  • Property Features Include: Mature Landscaping, Laundry Facilities, Gated Community Pool, BBQ Grill, Rentable Storage, Carport and Surface Parking

OVERVIEW

CBRE, Inc. as the exclusive advisor, is pleased to present this 33-Unit asset located at 2352-2386 LeRoy Street in the city of San Bernardino. El Royale Apartments is situated on North LeRoy Street between East 25th Street and East Highland Drive. The Property is located just south of the 210 and is less than a 4-mile radius from Downtown San Bernardino. Providing a picturesque backdrop to the beautiful San Bernardino Mountains, the Property is nearby a multitude of shops and restaurants, parks, and schools. The area also offers convenient access to San Bernardino City Hall, the San Bernardino Valley College, CSU San Bernardino, Loma Linda University Medical Center, University of Redlands and UC Riverside using the 10, 210 and 215 freeways. Access to local ski resorts and mountain cities is easy using the nearby highways 18 and 330. San Bernardino is home to the Metrolink Commuter Train Depot and the line runs between Downtown Los Angeles east through the San Gabriel Valley and the Inland Empire. The El Royale Apartments is a 2-story, 33-unit property built in 1960. The property is situated on one parcel of land with a total of ±43,549 square feet of land and a total building size of ±24,551 square feet. It features a unit mix of 28, one-bed/one-bathroom and a 5, two-bed/one-bathroom units averaging 743 square feet per unit. It also features controlled gated access, carport parking, a gated swimming pool, on-site laundry facility, rentable storage units, and a mature landscaped courtyard with BBQ grill. Individual units feature wall air conditioning and heating, gas oven/stoves, vertical blinds, high-speed internet and wood vinyl plank flooring or carpeting.* The El Royale Apartments has historically high occupancy and is currently generating $43,660 in monthly rental income. There remains approximately 27% rental upside potential with comparable one-bedroom/one-bathroom units in the immediate area generating $1,282 per month and two-bedroom/one-bathroom units generating $1,570 per month. The El Royal Apartments is a prime San Bernardino income-producing property and a great long-term investment. The property is in a desirable area and offers stability for any type of investor, whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$236 USD /SF

# OF UNITS

33

PRICE/UNIT

$175,758

CAP RATE

5.01%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

El Royale Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,549 SF

ZONING

RMH, San Bernardino

APN/PARCEL ID

0150-261-56

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.