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790 Ferrari Ln

Ontario, CA 91764

1 909 294 2593

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5 Units in Fontana

8861 Laurel Ave, Fontana, CA 92335, USA
Sold For$960,000$192,000/Per Unit

Description

Property Description

  • $192,000 Per Unit!
  • Comprised of (2) 2 Bed/1 Bath SFR & (3) 2 Bed/1 Bath Units
  • Desirable Single-Story Construction Situated on a 36,000 SqFt Lot
  • Seller Provided Private Financing
  • Current Cash on Cash Return: 1.52%; Current GRM: 16.16
  • Proforma Cash on Cash Return: 8.49%; Proforma GRM: 11.87
  • Kris and Deepen Represented Both Buyer and Seller
  • A true “win-win” scenario in which the seller was able to secure an aggressive price, all while maintaining a monthly income similar to his current income, plus relieving himself of all management headaches.
  • The buyer has acquired an asset in which he is able to easily receive an above-market return of 8+% while owning a unique property inclusive of 2 SFR’s on an oversized 36,000 SF Lot. The buyer will also take advantage of a 36.1% upside in rental income.
  • Address: 8861 Laurel Ave
  • City: Fontana
  • State/county: California
  • Zip/Postal Code: 92335
  • Country: United States

Detail

Updated on June 14, 2019 at 2:04 pm

  • Price: Sold For $960,000
  • Property Size: 4076 SqFt
  • Land Area: 36000 SqFt
  • Year Built: 1960
  • Property Type: Multi Family
  • Property Status: Closed Listing, Sold

Additional details

  • # of Units: 5
  • Unit Mix: 2 (2+1 SFR), 3 (2+1)
  • Zoning: R-SF
  • CAP Rate: 3.76%
  • GRM: 16.16
  • We Represented: Seller / Buyer
  • Close of Escrow: 05-10-2019

Video

WalkScore

walkscore21 / Car-Dependent more details here

Contact info

Deepen Shah
Deepen Shah
(909) 294-2603(909) 568-5200
Kristopher German
Kristopher German
(909) 294-2593(909) 645-0443
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