CA > Redlands
Redlands, CA 92373,305 W Olive AVE
Redlands, CA 92373,305 W Olive AVE
Redlands, CA 92373,305 W Olive AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,400,000
Est. payment /mo
8,398 Sqft Lot
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UPDATED:

11/11/2024 07:32 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID CV24226009

HOA Y/N No

Year Built 1906

Lot Size 8,398 Sqft

Property Description

We are proud to exclusively present for sale a 7-unit apartment community located at 305 W Olive Avenue in the historic downtown district of the city of Redlands. The property is part of a portfolio of multifamily properties all within blocks of one another which includes 305 W Olive Avenue (7 Units); 205 W Fern Avenue (8 Units); 108 W Olive Avenue (4 Units); and 304 Eureka Street (3 Units). All properties can be sold together or individually.
305 W Olive Avenue is located south of Interstate 10 and is situated between Alvarado Street and Grant Street, south of Redlands Boulevard. It is walking distance to downtown Redlands, Olive Market, the Redlands Bowl and Smiley Library. It is within biking distance to ESRI (the city’s top employer) and the University of Redlands; and within five miles of Loma Linda University Medical Center.
305 W Olive Avenue offers convenient access to the 10, 210 and 215 freeways and neighboring cities in the county—Loma Linda, Yucaipa, and Colton. It is located less than 6 miles from the San Bernardino International Airport and just a short drive from Riverside, Ontario, Moreno Valley, and San Bernardino – all major logistic hubs within the region. Several significant local landmarks are also within a short distance, including: Yaamava' Resort & Casino, Big Bear Lake, Lake Arrowhead, the San Bernardino National Forest, Morongo Casino Resort & Spa and more.
Built in 1906, 305 W Olive Avenue is comprised of one three-story mansion that was legally converted to seven units comprising of two studios, four one-bedroom/one-bath units, and one large penthouse one-bedroom/one-bathroom unit. The property has a lot size of ±8,400 square feet and total rentable square feet of approximately ±3,800 square feet. The units feature built-in cabinetry, high ceilings, ceiling fans, wall air conditioning and heating, and included appliances. The common areas feature lush landscaping with large mature trees and an on-site laundry facility.
305 W Olive Avenue is an income-producing property and a great long-term value-add investment opportunity. The property is in a highly desirable area and offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.

Location

State CA

County San Bernardino

Area 268 - Redlands

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Curbs, Sidewalks

Private Pool No

Building

Lot Description 6-10 Units/Acre

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 0171321220000

Acceptable Financing Cash, Cash to New Loan

Listing Terms Cash, Cash to New Loan

Special Listing Condition Standard

Read Less Info
California Regional MLS (CRMLS)
Listed by ERIC CHEN • CB RICHARD ELLIS • 626-757-5717

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