$1,305,000
$1,375,000
5.1%For more information regarding the value of a property, please contact us for a free consultation.
0.53 Acres Lot
SOLD DATE : 03/05/2019
Key Details
Sold Price $1,305,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
MLS Listing ID IV18235776
Sold Date 03/05/19
HOA Y/N No
Year Built 1989
Lot Size 0.530 Acres
Property Description
MGR Real Estate Inc., is pleased to present for sale 895-897 West Valley Blvd. Colton CA, 92324. This 100% Leased Medical Office's were built in 1989. The two-story office project is comprised of 11,371 square-feet gross building area; situated on over 23,090 square-feet of land, with street frontage to Valley Blvd and highly visible from the 10 freeway. Property is less than a mile (0.8) from Arrowhead Regional Medical Center & walking distance from DaVita Dialysis. In addition, property has upside potential margin for increase in rents with average in-place income of $0.85/PSF (MG), which is approximately 18%-23% below the market rate of $1.04/$1.10 PSF (MG). This presents an excellent and unique opportunity for any investor to reposition the asset through lease negotiations and tenant improvements. The building has recently undergone multiple upgrades such as new exterior paint & windows on the first floor (895 building). Also, doors have upgraded door handles, new commercial flooring throughout common areas/restrooms and fire department compliant sprinkler system. There is excellent parking ratio, with off street parking located around the building. Two entrances with full weekend access. Additionally, the property is positioned within a medium dense area with great street exposure and has easy access to freeways 10 and 215.
Location
State CA
County San Bernardino
Area 273 - Colton
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry None
Building
Lot Description 0-1 Unit/Acre, Sprinkler System
Story 2
Water Public
Others
Tax ID 0162133080000
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Financing Conventional
Special Listing Condition Standard
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Bought with KAZI AHMED • SAVE-ON REALTY SERVICES
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