102 Parkwood DrRedlands, CA 92373

Property Details for 102 Parkwood Dr

Year built

1940

Lot size

0.18 AC

Property size (Sq ft)

3,936 SF

Property type

Apartment buildings

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.

Location Insight

City

Redlands

County

San Bernardino

State

California

Latitude

34.0525

Longitude

-117.187

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