Ontario, CA 91761,1701 East Fairfield Court
Listed by Natasha Ashmore Gwilt • eXp Realty of California Inc
$1,420,000
Est. payment /mo
Est.Price: ?

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4,269 SqFt
SOLD DATE : 12/04/2024

Key Details

Sold Price $1,420,000

Property Type Single Family Home

Listing Status Sold

Purchase Type For Sale

Square Footage 4,269 sqft

Price per Sqft $332

MLS Listing ID SB-24142846

Year Built 1980

Lot Size 0.325 Acres

Property Description

Presenting a well-maintained two-story quadruplex with an impressive 5.45% cap rate, offering significant income upside and an opportunity to push the cap rate to over 6% within a year. This fully occupied property features four spacious units: one 3-bedroom, 2-bath and 2 car garage unit, and three 2-bedroom, 1.5-bath and 1 car garage units. Three of the units have been upgraded. Each unit is equipped with central air and heat, ensuring year-round comfort for tenants. All units are currently occupied, with one lease secured until July 2025 and the remaining units on a month-to-month basis to provide maximum flexibility for the new owner. Each unit has separate electric and gas meters, its own garage, and laundry hookups. The owner has provided a washer, dryer, and refrigerator in three of the units, which will convey to the buyer. Tenants can enjoy outdoor spaces with either a patio, balcony, or small yard. Ideally situated close to schools, major freeways, shopping centers, restaurants, and more, this property offers convenience and accessibility for all tenants. This is a rare opportunity for investors to acquire a stable, income-producing property with the potential for increased rents and other income through garage rents or RUBS implementation for water, sewer, and trash. Don't miss out on this exceptional investment in a high-demand area. Current low interest rate VA loan may be assumed by military buyer.

Location

State CA

County San Bernardino

Interior

Heating Central, Forced Air

Cooling Central Air

Laundry In Garage

Exterior

Parking Features Garage, Garage Faces Side

Garage Spaces 5.0

Pool None

Community Features Curbs, Sidewalks

Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected

View Y/N Yes

Building

Lot Description Lot 10000-19999 Sqft

Sewer Public Sewer

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Paul Ward

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Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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