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Multifamily

1317 N Pennsylvania Ave

1317 N Pennsylvania Ave, Colton, CA 92324

Listing Price: $1,050,000

Cap Rate
5.29%
Number of Units
4
GRM
12.07
Occupancy
100.0%
Price/Unit
$262,500

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 1317 Pennsylvania Avenue, a single-story fourplex multifamily investment property located in the city of Colton, California. The property sits on a 0.38-acre parcel and has an approximate building size of 4,000 square feet. The property is comprised of four spacious two-bedroom/two-bathroom floor plans. Each unit offers their own assigned carport parking, new HVAC unit, and a front patio. Selected units are renovated. The apartment features a new composition roof and an on-site laundry facility (owned). The apartments are individually metered for gas and electricity and have individual hot water heaters.
The property is conveniently located near the intersection of Interstate 10 and 215 Freeway, providing commuters with easy access to cities in the Inland Empire. The property is surrounded by numerous elementary, middle, and high schools within the Colton Joint Unified School District in addition to the several higher education institutions including San Bernardino Valley College, Loma Linda University, and University of California Riverside, thus having the potential to attract long-term residents. The property is within a three-mile radius of multiple department stores and shopping centers including Target, Walmart, Sprouts Farmers Market, and Inland Center Mall. For outdoor recreational activities, residents enjoy golfing at Colton Golf Course and San Bernardino Public Golf Club, as well as hiking or biking at the Santa Ana River Trail, a popular trail that spans over fifty miles and connects three counties.
Found in the Inland Empire region of San Bernardino, the small town of Colton has grown into a thriving transportation network with a focus on high-quality living for its residents. In addition to the city’s busiest at-grade railroad crossings, the city of Colton is constantly pushing for economic growth with its mantra of business, residential, and commercial real estate as “location, location, location”. The City's Economic Development staff markets the City as an attractive business location and proactively contacts Colton businesses, as well as companies seeking to expand and/or relocate to the City of Colton. Less than two miles west of the subject property, the Hub City Centre is one of the city’s major developments anchored by Arrowhead Regional Medical Center (ARMC) and the future campus of the California University of Science and Medicine (CUSM). This has the potential for advanced medical research, housing for medical professionals and students, hotels and restaurants, and an environment with green trails, civic spaces, and supportive housing for all ages and abilities.

Investment Highlights

  • 5.29% Capitalization Rate
  • Newer Composition Roof | Newer HVAC in Each Unit
  • On-Site Laundry Facility (Owned)
  • Individually Metered Electricity & Gas | Individual Hot Water Heaters
  • Close Proximity to Interstate 10 & 215 Freeways
  • Population In Excess of 347,000 Within a Five-Mile Radius

Exclusively Listed By

Multifamily

1317 N Pennsylvania Ave

Listing Price: $1,050,000

Cap Rate
5.29%
Number of Units
4
GRM
12.07
Occupancy
100.0%
Price/Unit
$262,500

Investment Highlights

  • 5.29% Capitalization Rate
  • Newer Composition Roof | Newer HVAC in Each Unit
  • On-Site Laundry Facility (Owned)
  • Individually Metered Electricity & Gas | Individual Hot Water Heaters
  • Close Proximity to Interstate 10 & 215 Freeways
  • Population In Excess of 347,000 Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 1317 Pennsylvania Avenue, a single-story fourplex multifamily investment property located in the city of Colton, California. The property sits on a 0.38-acre parcel and has an approximate building size of 4,000 square feet. The property is comprised of four spacious two-bedroom/two-bathroom floor plans. Each unit offers their own assigned carport parking, new HVAC unit, and a front patio. Selected units are renovated. The apartment features a new composition roof and an on-site laundry facility (owned). The apartments are individually metered for gas and electricity and have individual hot water heaters. The property is conveniently located near the intersection of Interstate 10 and 215 Freeway, providing commuters with easy access to cities in the Inland Empire. The property is surrounded by numerous elementary, middle, and high schools within the Colton Joint Unified School District in addition to the several higher education institutions including San Bernardino Valley College, Loma Linda University, and University of California Riverside, thus having the potential to attract long-term residents. The property is within a three-mile radius of multiple department stores and shopping centers including Target, Walmart, Sprouts Farmers Market, and Inland Center Mall. For outdoor recreational activities, residents enjoy golfing at Colton Golf Course and San Bernardino Public Golf Club, as well as hiking or biking at the Santa Ana River Trail, a popular trail that spans over fifty miles and connects three counties. Found in the Inland Empire region of San Bernardino, the small town of Colton has grown into a thriving transportation network with a focus on high-quality living for its residents. In addition to the city’s busiest at-grade railroad crossings, the city of Colton is constantly pushing for economic growth with its mantra of business, residential, and commercial real estate as “location, location, location”. The City's Economic Development staff markets the City as an attractive business location and proactively contacts Colton businesses, as well as companies seeking to expand and/or relocate to the City of Colton. Less than two miles west of the subject property, the Hub City Centre is one of the city’s major developments anchored by Arrowhead Regional Medical Center (ARMC) and the future campus of the California University of Science and Medicine (CUSM). This has the potential for advanced medical research, housing for medical professionals and students, hotels and restaurants, and an environment with green trails, civic spaces, and supportive housing for all ages and abilities.

Exclusively Listed By

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