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25356 Cole Street, Loma Linda, CA 92354

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25356 Cole Street
Loma Linda, CA 92354

For Sale: $6,500,000

Property Type: Commercial Apartments
MLS#: IV19016155

  • Building Size: 20430 SF
  • Lot Size: 43995 SF
  • Number of Units: 24
  • Number of Stories: 2
  • Year Built: 1968
  • Days on market: 117
  • Net Operating Income: $280,520
  • Rent Control: No
  • Contact Listing Agent Direct:

Property Description

The property is conveniently located walking distance from the Loma Linda University, the Loma Linda University Medical Center, the Veteran Healthcare System & many major regional employers. This 24 unit apartment community is composed of all large two bedroom / one bathroom units, of approximately 879 Sq. Ft. The current ownership’s emphasis has been on quality updates which include recent capital improvements that exceed $500,000. A small protype of 4 units have been extensively updated with extra large kitchen islands. These units are garnering a premium in rental income exceeding $1,550 a month. Unit upgrades consist of stainless steel appliances, maple wood cabinetry, granite countertops, wood style Brava plank flooring, dual pane “Low-e” windows, and mirrored closet doors. Common area improvements consist of newly landscaped frontage and renovated laundry rooms. Technological and security upgrades include property wide Wi-Fi internet and 8 camera security system. Scheduled maintenance, quality updates and improvements have always been a priority for the owner and make this property, a true turnkey asset for prospective buyers, who are looking for peace of mind, knowing they invested in a quality property, that will require minimal maintenance, for decades to come. As a result, the property demonstrates a minimal turn over and vacancy, in comparison to similar properties.

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25356 Cole Street, Loma Linda, CA 92354

Based on information from California Regional Multiple Listing Service, Inc. as of January 22, 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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