4508 N Sierra Way

    San Bernardino, CA 92407
    • $599,000
    • STATUS: Active
    • ON SITE: 31 days
    • ID#: SR19221696
    UPDATED: 47 min ago
    $599,000
    • 0
      BEDS
    • 0.51
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,467
      SQFT
    • $110
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1989
    County:

    School Ratings & Info

    Description

    ***PLEASE SEE RENT ROLL & CAP RATE ANALYSIS SUPPLEMENTS*** Approximately 5,500 SF class B multi-tenant 23-unit office building built 1989 on a large ~23,000 SF lot with monument signage & well-maintained.Are you a professional in need of an office? Are you an investor looking for a cap rate above 8.00%? 95.4% Occupied & See Attached Rent Rolls & Cap Rate Analysis Sheets!Awesome potential for Owner-User or Investor under $110/SF! Current owner recently purchased to stabilize and sell as turnkey investment.Current tenants are month-to-month and property may be purchased by Owner-User to move-in within 30 days notice. Subject property is located within a gated complex mear Hwy 18 & 210 Fwy. Very attractive looking approximately 30-year old building with interior shared restrooms, monument sign and large gated parking area with plenty of spaces for customers!Seller is willing to carry 1st TD mortgage note with 50% down payment at 6% interest-only for 5 year term. This property once sold for $625,000 in 2006! Please see current vs. pro forma rent rolls and expense expectations to verify the validity of our target Cap Rate of 8.35% upon completion of stabilization. Currently only 1 vacancy of 250 SF (or 4.6% of total SF) offered at $450/Month ($1.80/SF) Full-Service Gross which includes all utilities. Prior owner was absentee and new owner is putting in the proper management and maintenance in place to make this 100% Turnkey!

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-19T08:34:51.11. 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 deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.
    www.sellinglasouthbay.com/homes/99024594

    4508 N Sierra Way San Bernardino, CA 92407

    • Price: $599,000
    • Status: Active
    • Updated: 47 min ago
    • ID#: SR19221696
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.51
    Acres
    5,467
    SQFT
    $110
    $/SQFT
    1989
    Built
    Neighborhood:
    274 - San Bernardino
    County:
    San Bernardino
    Area:
    274 - San Bernardino
    Property Description
    ***PLEASE SEE RENT ROLL & CAP RATE ANALYSIS SUPPLEMENTS*** Approximately 5,500 SF class B multi-tenant 23-unit office building built 1989 on a large ~23,000 SF lot with monument signage & well-maintained.Are you a professional in need of an office? Are you an investor looking for a cap rate above 8.00%? 95.4% Occupied & See Attached Rent Rolls & Cap Rate Analysis Sheets!Awesome potential for Owner-User or Investor under $110/SF! Current owner recently purchased to stabilize and sell as turnkey investment.Current tenants are month-to-month and property may be purchased by Owner-User to move-in within 30 days notice. Subject property is located within a gated complex mear Hwy 18 & 210 Fwy. Very attractive looking approximately 30-year old building with interior shared restrooms, monument sign and large gated parking area with plenty of spaces for customers!Seller is willing to carry 1st TD mortgage note with 50% down payment at 6% interest-only for 5 year term. This property once sold for $625,000 in 2006! Please see current vs. pro forma rent rolls and expense expectations to verify the validity of our target Cap Rate of 8.35% upon completion of stabilization. Currently only 1 vacancy of 250 SF (or 4.6% of total SF) offered at $450/Month ($1.80/SF) Full-Service Gross which includes all utilities. Prior owner was absentee and new owner is putting in the proper management and maintenance in place to make this 100% Turnkey!
    Exterior Features

    Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet

    Interior Features

    Condo Area Units Square Feet Laundry Features None

    Property Features

    Accounting Type Proforma Additional Parcels YN No Advertising Expense 0.00 Building Area Units Square Feet Building Expenses 0.00 Building Status Existing Cap Rate 8.35 Country Us Effective Gross 82661 Electric Electricity - On Property Electric Expense 4551.12 Expense Year 2020 Gross Scheduled Income 91846.00 Insurance Expense 1800.00 Land Use Office Laundry Income 0.00 Laundry YN No Leasable Area Units Square Feet Legal Accounting Expense 0.00 Maintenance Expense 3600.00 Max Total Area Units Square Feet Min Total Area Units Square Feet Net Operating Income 49987.48 Operating Expense 32673.56 Other Expense 4209.12 Other Income1 0.00 Personal Property Amount 0 Professional Management Expense 5510.74 Property Sub Type Office Real Estate Tax Expense 7487.50 Reserves Expense 2400.00 Resident Manager Expense 0.00 Special Listing Conditions Standard Supplies Expense 0.00 Tax Annual Amount 7487.50 Tax Rate 1.25 Tax Year 2020 Total Expenses 32673.56 Trash Expense 758.88 Vacancy Allowance 9185 Vacancy Allowance Rate 10.00 Water Sewer Expense 2356.20 Water Source Public

    Listing provided courtesy of Ryan Mcelveen of Ryan Mcelveen


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-10-19T08:34:51.11. 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 deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty, LA Harbor. Licensed in the State of California, USA.
     
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    28901 S. Western Avenue #139
    Rancho Palos Verdes CA, 90731