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$300,000 PRICE REDUCTION TRUST SALE 2761 Golden Ave 30 Unit Apartment Building $9,073,480 CAD ($302,449 CAD/Unit) 7.78% Cap Rate San Bernardino, CA 92404
INVESTMENT HIGHLIGHTS
- $300K Price Reduction - ProForma CAP Rate of 7.84%, Rent Growth: Rents are currently below market by an average of approximately $725 per unit/month.
- Priced at only $160/SF – Well below the $235/SF average for comparable multifamily properties in the market. Property is priced 32% under market PPSF.
- Ample onsite parking including tuck-under stalls, covered spaces, open parking, and private garages.
- Current CAP Rate of 4.75% – Reflects a unique trust sale situation. The previous long-term owner prioritized 100% occupancy or rent growth.
- Located on two legal lots totaling 1.37 acres, providing flexibility and long-term hold options or possibility for future development potential.
- Fully gated property for enhanced security and tenant appeal / Well-maintained swimming pool adds to tenant enjoyment and retention + Onsite laundry.
EXECUTIVE SUMMARY
Recent $300,000 Price Reduction - TRUST SALE, MOTIVATED SELLER. This sale presents an exceptional opportunity for an investor to unlock value through strategic rent increases, while benefiting from a stabilized asset with consistent performance. Recent rent increases of $4,200/month +/- ($50,000 +/- annually) implemented through professional third party management, establishing a clear pathway to higher cash flow.
Current CAP Rate reflects a unique trust sale situation. The previous long-term owner prioritized 100% occupancy and tenant stability over rent growth, keeping rents significantly below market.
With 30 units, the property boasts an excellent unit mix that appeals to a broad tenant base:
7 Units: 950 Sq. Ft. 1 Bedroom - 1 Bathroom
1 Unit: 1,100 Sq. Ft. 2 Bedrooms - 1 Bathroom
4 Units: 1,300 Sq. Ft. 2 Bedrooms - 2 Bathrooms
12 Units: 1,400 Sq. Ft. 3 Bedrooms - 2 Bathrooms
2 Units: 1,500 Sq. Ft. 3 Bedrooms - 2.5 Bathrooms
4 Units: 1,700 Sq. Ft. 4 Bedrooms - 2 Bathrooms
Current CAP Rate reflects a unique trust sale situation. The previous long-term owner prioritized 100% occupancy and tenant stability over rent growth, keeping rents significantly below market.
With 30 units, the property boasts an excellent unit mix that appeals to a broad tenant base:
7 Units: 950 Sq. Ft. 1 Bedroom - 1 Bathroom
1 Unit: 1,100 Sq. Ft. 2 Bedrooms - 1 Bathroom
4 Units: 1,300 Sq. Ft. 2 Bedrooms - 2 Bathrooms
12 Units: 1,400 Sq. Ft. 3 Bedrooms - 2 Bathrooms
2 Units: 1,500 Sq. Ft. 3 Bedrooms - 2.5 Bathrooms
4 Units: 1,700 Sq. Ft. 4 Bedrooms - 2 Bathrooms
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $9,073,480 CAD | Building Class | C |
| Price Per Unit | $302,449 CAD | Lot Size | 1.65 AC |
| Sale Type | Investment | Building Size | 40,400 SF |
| Cap Rate | 7.78% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.71 | No. Stories | 2 |
| No. Units | 30 | Year Built/Renovated | 1964/2021 |
| Property Type | Multifamily | Parking Ratio | 1.58/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | RM, San Bernardino | ||
| Price | $9,073,480 CAD |
| Price Per Unit | $302,449 CAD |
| Sale Type | Investment |
| Cap Rate | 7.78% |
| Gross Rent Multiplier | 8.71 |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.65 AC |
| Building Size | 40,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2021 |
| Parking Ratio | 1.58/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM, San Bernardino |
AMENITIES
UNIT AMENITIES
- Balcony
- Storage Space
SITE AMENITIES
- Security System
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | $1,536 CAD | 950 |
| 2+1 | 1 | $2,506 CAD | 1,100 |
| 2+2 | 4 | $2,213 CAD | 1,300 |
| 3+2 | 12 | $2,511 CAD | 1,400 |
| 3+2.5 | 2 | $2,581 CAD | 1,500 |
| 4+2 | 4 | $2,987 CAD | 1,700 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $7,403,025 CAD | |
| Land Assessment | $913,745 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $6,489,280 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$913,745 CAD
Improvements Assessment
$6,489,280 CAD
Total Assessment
$7,403,025 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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$300,000 PRICE REDUCTION TRUST SALE | 2761 Golden Ave
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