338 W 7th St, San Bernardino, California 92401, San Bernardino, 92401 - bed, bath
ACTIVE$910,000
338 W 7th St, San Bernardino, California 92401
0Bed
0Bath
6,172Sqft
11,250Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Approved Development Plans: The property comes with approved plans to build 4 units, each with 4 master bedrooms, totaling 16 master bedrooms, significantly de-risking the development process.
Top Cons:
Significant Development Costs & Execution Risk: While plans are approved, the buyer will incur substantial capital investment and face inherent execution risks for the actual construction or conversion of the 16 master bedrooms.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1961 (64 years old).
Condition: The property, built in 1961, is explicitly marketed for its redevelopment potential with approved plans to build 4 residential units. The existing structure is a commercial building, and no interior images or details regarding residential kitchens or bathrooms are provided. The age of the building, its commercial nature, and the emphasis on 'building' new units strongly suggest the current structure is unlivable for its intended residential purpose and would require either demolition or an extensive gut renovation, making its value primarily in the land and approved plans.
Year Built
1961
Close
-
List price
$910K
Original List price
$910K
Price/Sqft
$147
HOA
-
Days on market
-
Sold On
-
MLS number
TR25246400
Home ConditionTear down
Features
View-
About this home
Amazing opportunity to own this commercial building in the heart of San Bernardino! SELLER HAS THE PLANS APPROVED TO BUILD 4 Units, each Unit with 4 Master Bedrooms, a TOTAL OF 16 MASTER BEDROOMS! GREAT INCOME PROPERTY! With 6,172 square feet and a total lot size combined 2 lots (0140-282-26-0000) APPROX 18,000 FOR BOTH. This commercial place has plenty of parking and is completely fenced! This area is rapidly redeveloping in Downtown San Bernardino, near the City Hall, Police Department, Courthouse, Consulate of Mexico, and 215, 210 freeways. DON'T MISS OUT ON THIS RARE OPPORTUNITY TO BUILD A REAL ESTATE PORTFOLIO with this entry-level investment and income-generating asset!
Condition Rating
Tear down
The property, built in 1961, is explicitly marketed for its redevelopment potential with approved plans to build 4 residential units. The existing structure is a commercial building, and no interior images or details regarding residential kitchens or bathrooms are provided. The age of the building, its commercial nature, and the emphasis on 'building' new units strongly suggest the current structure is unlivable for its intended residential purpose and would require either demolition or an extensive gut renovation, making its value primarily in the land and approved plans.
Pros & Cons
Pros
Approved Development Plans: The property comes with approved plans to build 4 units, each with 4 master bedrooms, totaling 16 master bedrooms, significantly de-risking the development process.
High Income Generation Potential: Designed for substantial rental income with 16 master bedrooms, making it an attractive income-generating asset for investors.
Strategic Downtown Location: Located in a rapidly redeveloping downtown area of San Bernardino, near City Hall, Police Department, Courthouse, Consulate of Mexico, and major freeways (215, 210), ensuring strong demand and accessibility.
Large & Fenced Lot with Ample Parking: The combined lot size of approximately 18,000 sqft, along with being completely fenced and offering plenty of parking, adds significant value and utility for a multi-unit development.
Redevelopment Area Growth: Situated in an area undergoing rapid redevelopment, indicating potential for future property value appreciation and increased tenant demand.
Cons
Significant Development Costs & Execution Risk: While plans are approved, the buyer will incur substantial capital investment and face inherent execution risks for the actual construction or conversion of the 16 master bedrooms.
Age of Existing Structure: The current commercial building was built in 1961, which may imply outdated infrastructure, potential demolition costs, or significant renovation if the existing structure is to be incorporated into the new plans.
Market Specifics & Target Tenant Profile: The '16 master bedrooms' concept suggests a specific tenant demographic (e.g., shared living, student housing) which requires thorough market analysis to validate demand and achievable rental rates in the San Bernardino area.