25-Unit Apartment
For Sale
$5,184,331
1001 Tribune Street, Redlands, CA 92374
Seven separately parceled buildings provide a varied multifamily configuration with garages, carports, and open parking.
Property Size27,592 SF
Lot Size1.66 Acres
Price / SF$187.89
Days on Market135
Property Features for 1001 Tribune Street
General Information
Standard status
Active
Size
27,592 SF
Total Parking Spaces
40
Lot size
1.66 Acres
Property subtype
Multifamily
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
25
Amenities
laundry facilities
courtyards
individual porches or patios
secure iron fencing with entry gates
mature landscaping
Building Details
Year Built
1965
Buildings
7
Listing Agency:
CB RICHARD ELLIS
Listed By:
Eric Chen · License #01489184
(909) 418-2071
Source:
Cbre
Added: Jun 2
Changed: Oct 9
Last Checked: Oct 12 at 5:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CB RICHARD ELLIS
Investment Insights
Based on property information with market context.
This multifamily property comprises 25 units across seven separately parceled buildings on 1.66 acres. The configuration includes three triplexes and four fourplexes, with primarily single-story two-bedroom, two-bath residences alongside townhouse-style two-bedroom, two-bath units and three-bedroom, two-bath units in two fourplexes. Constructed in 1965, the property includes pitched composition roofs, iron fencing with gated entries around most building groups, and individual porches or patios. Unit features include equipped kitchens with oven ranges, air conditioning and heating, storage, carpet flooring, closets, horizontal blinds, and select dishwashers. Laundry facilities and landscaped courtyards serve the complex.
Parking consists of 23 garages, 4 carports, and 13 open spaces, with additional street parking. The property is located near Downtown Redlands, the University of Redlands, shopping centers, theaters, restaurants, shops, and the Metrolink Downtown Redlands Commuter Rail Station.
Parking consists of 23 garages, 4 carports, and 13 open spaces, with additional street parking. The property is located near Downtown Redlands, the University of Redlands, shopping centers, theaters, restaurants, shops, and the Metrolink Downtown Redlands Commuter Rail Station.
Key Highlights
- 25 units across seven individually parceled buildings
- 1.66‑acre multifamily property with three triplexes and four fourplexes
- Unit mix includes two‑bedroom/two‑bath and three‑bedroom/two‑bath residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$281,377
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,627,540
$5.6M
Cap Rate 7%
$4,019,671
$4.0M
Cap Rate 9%
$3,126,411
$3.1M
Market Conditions
NOI Build-Up for 27,592 SF
Gross rent
$427.1K $15.48/SF
− Vacancy
−$25.2K −$0.91/SF
EGI
$402.0K $14.57/SF
− OpEx
−$120.6K −$4.37/SF
NOI
$281.4K $10.20/SF
Area
San Bernardino County, CA
Vacancy
5.89%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,627,540
Cap Rate 7%
$4,019,671
Cap Rate 9%
$3,126,411
Alternative Uses
Best Use
Multifamily LT 5
$4.02M
$3.52M – $4.69M
NOI $281,377 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$3.49M
$3.05M – $4.07M
NOI $244,268 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$5.82M
$5.09M – $6.79M
NOI $407,409 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
25
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,262
Businesses Nearby
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Business Placement
Demographics for 92374, CA
43,587
Population
15,038
Households
2.9
Avg Household Size
35
Median Age
37%
College-Educated
90%
High-School Grad
17.9 sq mi
ZIP Area
2,435
Density / Sq Mi
$96,237
Median Household Income
$41,349
Median Earnings
$1,972
Median Rent
$494,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven separately parceled buildings provide a varied multifamily configuration with garages, carports, and open parking.
Where is this apartment building located?
The property is located at 1001 Tribune Street Redlands, CA.
What is the asking price?
The asking price for this property is $5,184,331.
What are key features of this property?
This property features: 25 units across seven individually parceled buildings; 1.66‑acre multifamily property with three triplexes and four fourplexes; Unit mix includes two‑bedroom/two‑bath and three‑bedroom/two‑bath residences
