11227 San Lucas Dr Loma Linda, CA 92354
- Commercial real estate
- 1,412 SF
- 5,460.00 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 11227 San Lucas Dr
- Year built
- 1928
- Lot size
- 5,460.00 lot acres
- Property size
- 1,412 SF
- Property type
- Commercial real estate
- APN
- 0284-074-09-0000
Description
This exceptional 5-unit apartment building presents a compelling investment opportunity in Loma Linda, CA. Located at 11227 San Lucas Dr, 92354, this stabilized, "mailbox money" property boasts a 100% occupancy rate, generating a current NOI of $56,000 and a pro-forma NOI of $80,400. The property, built in 1928 and renovated in 2010, comprises 1,412 square feet on a 5.46-acre lot (APN 0284-074-09-0000) and is zoned for multifamily use. Each of the five units offers a comfortable layout, contributing to the strong rental income. The asking price is $1,200,000, representing $240,000 per unit and a current cap rate of 4.80%, with a pro-forma cap rate of 6.70%. The property's prime location near Loma Linda University Medical Center ensures consistent demand and potential for future value appreciation. This is a motivated seller offering a 1031 exchange opportunity. The property's strong performance and strategic location make it an ideal addition to any investment portfolio. The building is a single-story structure. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable Southern California location.
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
- Loma Linda
- County
- San Bernardino
- State
- California
- Longitude
- -117.2671182
- Latitude
- 34.049847
