
Redlands, California 92374
This quadruplex presents a High-Potential Investment Opportunity with a List Price of $1,175,000—positioned above the $1,120,018 Fair Market Value. While the property carries a premium, it features significant capital improvements, including a new roof and PEX plumbing, which mitigate deferred maintenance. With a Fair Condition Rating due to dated interiors, the asset offers a clear value-add path through cosmetic modernization. This is a stable, income-generating asset ideal for Buy-and-Hold Investors or Value-Add Syndicators seeking to capture $2,200 in monthly rental upside.
Property is moderate renovation needed.
Built in 1985 (39 years old), the property falls into the Fair category. While it features significant recent capital improvements including a new roof and PEX plumbing, the interiors are dated. Images reveal original-style laminate countertops, older cabinetry, popcorn ceilings, and worn flooring that require cosmetic updates to modernize the units.
The property features significant recent upgrades including a new roof, new exterior paint, and new PEX plumbing, significantly reducing immediate deferred maintenance costs for the investor.
With a projected $2,200 per month in potential rent growth, this quadruplex offers a clear value-add opportunity to substantially increase the current annual gross income and overall asset value.
Each unit is equipped with both a private garage and a covered carport, providing a rare and highly desirable parking ratio that enhances tenant retention and market competitiveness.
The property carries a $718 association fee, which represents a significant recurring operating expense that impacts monthly cash flow and the net operating income.
Based on the current NOI of $48,358 and the list price, the entry cap rate is approximately 4.1%, which may be considered low for investors seeking immediate high-yield returns before repositioning.
Excellent investment opportunity in the heart Redlands! This well-maintained quadruplex features four separate units, including two spacious 3-bedroom, units and two spacious 2-bedroom units, offering a desirable mix of floor plans. The property has recently been updated with a new roof, new exterior paint, and new PEX plumbing throughout, providing several important improvements for the next owner. Each unit has its own garage and covered carport, providing residents with convenient covered parking, along with additional off-street parking. A centrally located community laundry room adds another convenience for tenants. Excellent value-add opportunity with four spacious units and current gross rental income of $81,288 annually. Actual NOI is $50,158. Current rents offer approximately $2,200 per month in potential upside, providing investors an opportunity to increase income through future rent growth. The property is ideally located with easy access to Downtown Redlands for shopping, dining, and entertainment, along with convenient freeway access and close proximity to the University of Redlands. With four separate units, recent improvements, ample parking, and a desirable location, this property presents an excellent opportunity for an investor looking to add a multifamily property to their portfolio.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 4,006 | 2,718.333 |
| Lot Size | 12,000 | 8,441.667 |
| Price | $1.07M | $723.8K |
| Price per sq ft | $268 | $333 |
| Built year | 1985 | 1923 |
| HOA | $718.0 | $0 |
| Days on market | 26 | 169 |
Sep 4, 2026
$1,074,999
$1,099,999
-2% Price Drop
Initial Listing
Aug 22, 2026
$1,099,999
$1,175,000
-6% Price Drop
Initial Listing
Aug 14, 2026
$1,175,000
Initial Listing
Oct 11, 2024
$940,000
Public Record
Jan 25, 2005
$555,000
Public Record
Sep 3, 2004
$502,000
Public Record