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1840 Mentone Blvd
Mentone, CA 92359

$815,000 USD

Storefront Retail Residential For Sale  •  2,267 SF

Property Details

  • Property Type Storefront Retail Residential
  • Total Building Size 2,267 SF
  • Lot Size 0.22 AC
  • Building Class C
  • Year Built 1952
  • Cap Rate 6.14 %
  • Tenancy Multiple
  • Zoning CG-SCP
0 Transit Score
69 Walk Score

Highlights

Approximately, $400,000 invested in comprehensive property enhancements including new roofs, all units renovated & installation of new septic tanks.
Located close proximity to the University of Redlands, a prestigious private liberal arts university located in neighboring Redlands, CA.
Approximately 3 years remaining on lease with 5% rent escalations annually; tenant is responsible for utilities.
Prime location on Mentone Blvd (Hwy 38)
Located 4 minutes from Redlands Municipal Airport(1.5 Miles).
ProForma CAP Rate of 5.84%, with a ProForma GRM of 12.50. Current CAP Rate of 5.19%
Cap Rate: 6.14 %

Amenities

  • Corner Lot
  • Fenced Lot
  • Signage

Public Transportation

Commuter RailDriveWalkDistance
Redlands - University Metrolink Station (Metrolink San Bernardino Line - Metrolink Trains) 7 min - 3.3 mi
Redlands - Downtown Metrolink Station (Metrolink San Bernardino Line - Metrolink Trains) 8 min - 3.8 mi
AirportDriveWalkDistance
Ontario International 38 min - 28.3 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 5
Type: Surface
Included in Rent: Yes
Albert Le 714-814-2088 Le Investment Group
Albert Le 714-814-2088 Le Investment Group