24555 Canada Street, Loma Linda, California 92354, Loma Linda, 92354 - bed, bath
ACTIVE$1,280,000
24555 Canada Street, Loma Linda, California 92354
0Bed
0Bath
3,448Sqft
8,925Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High Occupancy & Demand: The property boasts full occupancy and a history of almost never being vacant, indicating strong rental demand in the area and stable income potential.
Top Cons:
Property Age: Built in 1977, the property is over 45 years old, which may imply potential for aging infrastructure, systems, or dated interior finishes requiring future capital expenditures.
Compared to the nearby listings
Price:$1.28M vs avg $940.0K (+$340,000)83%
Size:3,448 sqft vs avg 2,700.5 sqft83%
Price/sqft:$371 vs avg $40450%
More Insights
Built in 1977 (48 years old).
Condition: The property was built in 1977, making it 47 years old. While the listing states the 'Complex is in good condition,' the property analysis highlights 'aging infrastructure, systems, or dated interior finishes requiring future capital expenditures.' Without any interior images or details of recent renovations, it's highly probable that the kitchens, bathrooms, appliances, and other interior features are significantly outdated, reflecting styles and technologies from decades past. The exterior appears maintained but not updated. This aligns with a 'Fair' condition, indicating the property is functional and maintained but requires minor to moderate updates and repairs to meet current standards and appeal, especially in key areas like kitchens and bathrooms.
Year Built
1977
Close
-
List price
$1.28M
Original List price
$1.35M
Price/Sqft
$371
HOA
-
Days on market
-
Sold On
-
MLS number
PW24215752
Home ConditionFair
Features
View-
About this home
Back in the market. Price reduced. Fully occupied two story 4 plex in very desirable area in Loma Linda. Incredible demand of rental, almost never been vacant. Each unit with 2 bedrooms and 1 full bath 862 Sqft. Covered parking in rear. Located in the coveted "Walk Zone" just minutes to Loma Linda University and the Medical Center. Laundry room located on lower level. Complex is in good condition. Buyer to satisfy themselves as to condition of property and perform all due diligence and inspections.
Condition Rating
Fair
The property was built in 1977, making it 47 years old. While the listing states the 'Complex is in good condition,' the property analysis highlights 'aging infrastructure, systems, or dated interior finishes requiring future capital expenditures.' Without any interior images or details of recent renovations, it's highly probable that the kitchens, bathrooms, appliances, and other interior features are significantly outdated, reflecting styles and technologies from decades past. The exterior appears maintained but not updated. This aligns with a 'Fair' condition, indicating the property is functional and maintained but requires minor to moderate updates and repairs to meet current standards and appeal, especially in key areas like kitchens and bathrooms.
Pros & Cons
Pros
High Occupancy & Demand: The property boasts full occupancy and a history of almost never being vacant, indicating strong rental demand in the area and stable income potential.
Strategic Location: Situated in the coveted 'Walk Zone,' it offers unparalleled proximity to Loma Linda University and Medical Center, attracting a consistent pool of high-quality tenants.
Immediate Cash Flow: As a fully occupied 4-plex, the property provides immediate rental income, making it an attractive investment for cash flow-focused buyers.
Tenant Amenities: The presence of covered parking and an on-site laundry room enhances tenant convenience and adds to the property's appeal and competitive edge.
Recent Price Adjustment: A recent price reduction from the original listing price presents a potentially more favorable acquisition cost for investors.
Cons
Property Age: Built in 1977, the property is over 45 years old, which may imply potential for aging infrastructure, systems, or dated interior finishes requiring future capital expenditures.
Market Re-entry: The property being 'back in the market' could suggest previous transaction complications or issues discovered during prior due diligence, warranting careful investigation.
Buyer Due Diligence Clause: The listing explicitly states the buyer must perform all due diligence, placing the onus on the buyer to uncover and assess any potential hidden defects or required repairs, especially for an older property.