102 Parkwood Dr Redlands, CA 92373
- Commercial real estate
- 3,936 SF
- 0.18 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 102 Parkwood Dr
- Year built
- 1940
- Lot size
- 0.18 lot acres
- Property size
- 3,936 SF
- Property type
- Commercial real estate
- APN
- 0171233100000
Description
This exceptional 7-unit apartment building presents a compelling investment opportunity in desirable Redlands, CA. Located on a spacious 0.183-acre corner lot directly across from Smiley Park, this 3,936 square foot complex offers a tranquil setting and strong rental income. The property comprises six one-bedroom, one-bathroom units and one studio unit, each featuring luxury vinyl flooring, a cozy kitchen, and an open-concept living area. Individual electric meters enhance efficiency for both residents and the owner. Built in 1940, the property boasts beautifully landscaped grounds, including a spacious front and backyard. The complex benefits from a 6.16% cap rate and a net operating income (NOI) of $98,180, with an asking price of $1,595,000 ($405.23/sq ft). Its prime location offers residents easy access to dining, shopping, entertainment, and ample outdoor recreational opportunities, with downtown Redlands a short distance away. The property's strong and stabilized rents, combined with its desirable location and recent interior renovations, make it an attractive investment prospect. The APN is 0171233100000. This is a turnkey opportunity to acquire a well-maintained, high-demand multifamily property in a thriving California market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Redlands
- County
- San Bernardino
- State
- California
- Longitude
- -117.1868048
- Latitude
- 34.0524856
