26665 Ward St
Highland, CA 92346

Bd   — Ba   4,548 Sqft
Huge price reduction! Highlights; Actual Offering CAP Rate of 7.36% on Current Expenses, Pro Forma CAP Rate of 8.16% Once Rents Are Leveled Off, Below Average offering GRM of 8.39 With a Pro Forma GRM of 7.85, 5%-7% Upside in Potential Rental Income, 100 % occupied Property Located in a Non-Rent Control Community & Area, Rental Comparables Illustrate a 99 % Occupancy area, Very Clean & Well Maintained Asset With Improvements Throughout Ownership. The Ward Street apartment community is situated on a 15,446 Sq. Ft. Lot. The apartment complex is composed of eleven studio units. The property has been very well maintained throughout the years and reflects a pride of ownership. The tenants are provided secure onsite parking with detached garages, pool access, & onsite laundry. The City of Highland is among one of the fastest growing communities in the Inland Empire. There are currently six developers working on large scale residential developments in the city. Increased occupancy and stabilization have lead to an increase in demand, which has resulted in higher rental prices and returns. Currently less than 20% of dwellings in Highland are designated for multifamily, this factor will continue to contribute to much higher demand for this type of housing in the future. The growth in the City of Highland make this multifamily asset an ideal investment opportunity.
  • Neighborhood: Cypress
  • Days on Movoto: 127
  • Year Built: 1963
  • HOA: $0 HOA
  • $/Sqft: $165
  • Lot: 15,446 Sqft
  • Property Type: Multi Family
  • MLS#: IV17006869
  • MLS:
  • Listing Office: LE INVESTMENT GROUP
  • Listed By: ALBERT LE
  • Movoto last checked CRMLS for new data 2 hours ago
  • CRMLS last updated this listing 1 month ago

Home Features for 26665 Ward Street, Highland

Overview
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Property History for 26665 Ward Street, Highland

Status
Date
Price
Sold
May 18, 2017
$750,000
Pending
May 10, 2017
Listed
Jan 11, 2017
$725,000
#IV17006869
Listed
Jul 6, 2016
Pending
Jun 20, 2016
Listed
Nov 17, 2015
$725,000
#IV15248170
26665 Ward St in 92346 was last listed for $750,000. As of today, , this is 112% above the current median price of $353,348 for the city of Highland, CA and 112% above the median of $353,348 for ZIP code 92346. Right now, there are 119 properties for sale in 92346 and 119 properties listed for sale in Highland. Those 119 properties are made up of 98 single family homes and 21 condos. The square footage of 26665 Ward St is approximately 4,548, which is 147% above the median size of 1,843 Sqft in Highland and 147% above the median size of 1,843 square feet in ZIP code 92346. This property's price per square foot was $165, which is 11% below the current $185 median in 92346 and 11% below the $185 Highland median.
Built in 1963, this multi family house at 26665 Ward St, Highland CA, 92346 is approximately 4,548 square feet and comes with 11 parking spots. It was last listed with a cost per Sqft of $165. 26665 Ward St is located in the Cypress neighborhood in the San Bernardino City Unified School District. The closest school is Cypress Elementary School.

26665 Ward St, Highland CA, 92346 was on the market for 127 days. The median days on the market for properties in this area is 46 with a median list price of $353,348 and median cost per square foot of $185. Its current status is sold under the MLS #IV17006869.

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