223 W Olive Avenue

    Redlands, CA 92373
    • $675,000
    • STATUS: Active
    • ON SITE: 36 days
    • ID#: EV19193942
    UPDATED: 58 min ago
    $675,000
    • 0
      BEDS
    • 0.26
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 4,257
      SQFT
    • $159
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1903
    County:

    School Ratings & Info

    Description

    CALLING ALL INVESTORS!! Historic Home with approved plans for 7 units and potential income of $12K+. Built in 1903 as a boarding house and later converted into seven (7) apartments. It sits on a prominent corner in the heart of the downtown historic district. The building has been under renovation since 2010 & is completely gutted inside. A new foundation and ornate masonry staircase was completed and approved by the City of Redlands on December 2012 with a cost of $85,000. The current owner has taken it to the next chapter of the renovation by contracting for architectural drawings and taking it through the process of approval through the Historic and Scenic Preservation Commission. HSPC approved the plans on October 5, 2017. Architectural Construction Plans were approved through the City of Redlands on October 30, 2018. The approved plans include 7 units- One 2 bedroom/2 bath, five 1 bedroom/1 bath, and one studio apartment for a total of 4,640 sq. ft. Amazing location provides walkability and cycling to downtown dining and entertainment, A.K. Smiley Library, Redlands Bowl, the Lincoln Shrine, University of Redlands and other points of interest. Redlands is a highly desirable place to live with easy commute to U of R, ESRI, and easy access to I-10. Seller has completed a structure and pricing analysis for this multi-unit income producing complex. If you are an investor with vision and courage call for an appointment to view the property and architectural plans today!!

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-21T22:49:28.32. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
    www.teamforss.com/homes/98006057

    223 W Olive Avenue Redlands, CA 92373

    • Price: $675,000
    • Status: Active
    • Updated: 58 min ago
    • ID#: EV19193942
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.26
    Acres
    4,257
    SQFT
    $159
    $/SQFT
    1903
    Built
    Neighborhood:
    268 - Redlands
    County:
    San Bernardino
    Area:
    268 - Redlands
    Property Description
    CALLING ALL INVESTORS!! Historic Home with approved plans for 7 units and potential income of $12K+. Built in 1903 as a boarding house and later converted into seven (7) apartments. It sits on a prominent corner in the heart of the downtown historic district. The building has been under renovation since 2010 & is completely gutted inside. A new foundation and ornate masonry staircase was completed and approved by the City of Redlands on December 2012 with a cost of $85,000. The current owner has taken it to the next chapter of the renovation by contracting for architectural drawings and taking it through the process of approval through the Historic and Scenic Preservation Commission. HSPC approved the plans on October 5, 2017. Architectural Construction Plans were approved through the City of Redlands on October 30, 2018. The approved plans include 7 units- One 2 bedroom/2 bath, five 1 bedroom/1 bath, and one studio apartment for a total of 4,640 sq. ft. Amazing location provides walkability and cycling to downtown dining and entertainment, A.K. Smiley Library, Redlands Bowl, the Lincoln Shrine, University of Redlands and other points of interest. Redlands is a highly desirable place to live with easy commute to U of R, ESRI, and easy access to I-10. Seller has completed a structure and pricing analysis for this multi-unit income producing complex. If you are an investor with vision and courage call for an appointment to view the property and architectural plans today!!
    Exterior Features

    Foundation Details Concrete PerimeterRaisedStacked Block Garage Spaces 0.00 Lot Features 6-10 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 0.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area 493 Average Studio Area Units Square Feet Average1 Bed Area 691 Average1 Bed Area Units Square Feet Average2 Bed Area 956 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Inside Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features BikingCurbsDog ParkSidewalksStorm DrainsStreet Lights Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 0.00 Gross Scheduled Income 0.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 0.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 7 Number Of Separate Gas Meters 7 Number Of Separate Water Meters 1 Number Of Units Leased 0 Operating Expense 0.00 Professional Management Expense 0.00 Property Condition Repairs MajorUnder Construction Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasTelephone Total Actual Rent 0.00 Total Expenses 0.00 Trash Expense 0.00 Utilities Cable AvailableElectricity AvailableNatural Gas AvailableSewer AvailableWater Available Water Sewer Expense 0.00 Water Source Public Year Built Source Public Records

    Listing provided courtesy of Brenda Gomez of Bhhs Perrie Mundy Realty Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-21T22:49:28.32. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Allison James Estates and Homes. Licensed in the State of California, USA.
     
    Allison James Estates and Homes
    31213 Temecula Parkway
    Temecula CA, 92592