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475 E Cypress
Redlands, CA 92373 South Redlands

$14,995,000 USD

Apartments For Sale  •  99,315 SF

Property Details

  • Property Type Apartments
  • Total Building Size 99,315 SF
  • Lot Size 2.53 AC
  • Building Class C
  • Year Built 1964
  • Zoning R3, Redlands
40 Transit Score
60 Walk Score

Highlights

54 units on over 2.5 acres of land in fantastic Redlands location; minutes to historic Downtown Riverside and University of California, Riverside
Value-add opportunity with no city rent control
Going-in cap rate of 5.3%; market cap rate of 6.3%
Below-replacement-cost pricing at $277K per unit and $153 per square foot
Spacious, house-like units averaging nearly 1,500 square feet
Proven rental upside: rents approximately $290/unit/month under market

Amenities

  • Air Conditioning
  • Balcony
  • Fitness Center
  • Laundry Facilities
  • Pool
  • Spa
  • Storage Space
  • Heating
  • Recycling
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Public Transportation

Commuter RailDriveWalkDistance
2 min 17 min 0.9 mi
4 min - 1.2 mi
AirportDriveWalkDistance
Ontario International 34 min - 26.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Adrienne Barr 310-470-8963 Berkadia
Adrienne Barr 310-470-8963 Berkadia