11227 San Lucas DrLoma Linda, CA 92354

Property Details for 11227 San Lucas Dr

Year built

1928

Lot size

5,460.00 AC

Property size (Sq ft)

1,412 SF

Property type

Residential income properties

Property subtype

Multifamily properties

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.

Location Insight

City

Loma Linda

County

San Bernardino

State

California

Latitude

34.0498

Longitude

-117.267

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