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1097 E Richland St
Upland, CA 91786
5 Large Units with Huge Lot Built in 1979 · Multifamily Property For Sale
·
5 Units
Investment Highlights
- $123,414 annual income with 5.65 CAP Rate. All 2 bedrooms
- Huge Lots 12,802 SF. Possibility to build additional ADU or units. Check with City.
- Great Location
- Built in 1979, no local rent control
- Rent is below market,5 Tenants annual increase immediately (Annual increase due)
- Parking space with car garage for each unit, total 11 parking
Executive Summary
Excellent income with big potential! Actual income is $123,414/yr. Great location with huge lot. The rent is below market. All 2 bedrooms and 1 bathroom. A big lot may build additional ADU or units. The buyer must verify with the City. Convenient location closed shopping center, school, freeway and supermarket. Short drive to Upland’s historic downtown, Montclair Plaza, and Claremont Village. Built in 1979. Each unit has 1 car garage with 1 parking space plus an additional one guess parking(11 parking total). No local rent control. Strong rental demand in the area. The annual rent increase period for all five tenants has already expired. Since there is no local rent control, the buyer can raise the rent significantly within California’s legal limits and become the biggest beneficiary.
Property Facts
| Price Per Unit | $456,348 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 5.65% | Building Size | 4,400 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1979 |
| Apartment Style | Low-Rise | Parking Ratio | 2.27/1,000 SF |
| Zoning | RS7.5, Upland | ||
| Price Per Unit | $456,348 CAD |
| Sale Type | Investment |
| Cap Rate | 5.65% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 4,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 2.27/1,000 SF |
| Zoning | RS7.5, Upland |
Amenities
Unit Amenities
- Balcony
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $2,937 CAD | - |
Property Taxes
| Parcel Number | 1047-192-33 | Improvements Assessment | $756,813 CAD |
| Land Assessment | $391,162 CAD | Total Assessment | $1,147,975 CAD |
Property Taxes
Parcel Number
1047-192-33
Land Assessment
$391,162 CAD
Improvements Assessment
$756,813 CAD
Total Assessment
$1,147,975 CAD
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