338 W 7th Street, San Bernardino, California 92401, San Bernardino, 92401 - bed, bath
ACTIVE$949,900
338 W 7th Street, 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: Seller has approved plans to build 4 units, each with 4 master bedrooms (total 16 master bedrooms), significantly de-risking and accelerating the development process for the buyer.
Top Cons:
Significant Capital Investment Required: While development plans are approved, the actual construction of 4 units with 16 master bedrooms will necessitate substantial additional capital investment and project management beyond the purchase price.
Compared to the nearby listings
Compared against 0 nearby listings
More Insights
Built in 1961 (64 years old).
Condition: This property is a 1961 commercial building being marketed for its development potential, with approved plans to build 4 residential units. The existing structure, built over 60 years ago, is clearly not in a residential-ready state. There are no interior images of residential features like kitchens or bathrooms, and the property analysis explicitly notes the 'Age of Existing Structure' as a weakness, implying 'potential for outdated systems, deferred maintenance, or the need for extensive renovation/demolition'. To convert this commercial building into modern residential units would require substantial rehabilitation, if not partial or full demolition, making its current condition for residential living 'poor' as it would be uncomfortable and unsuitable without major intervention.
Year Built
1961
Close
-
List price
$950K
Original List price
$950K
Price/Sqft
$154
HOA
-
Days on market
-
Sold On
-
MLS number
DW25107597
Home ConditionPoor
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
Poor
This property is a 1961 commercial building being marketed for its development potential, with approved plans to build 4 residential units. The existing structure, built over 60 years ago, is clearly not in a residential-ready state. There are no interior images of residential features like kitchens or bathrooms, and the property analysis explicitly notes the 'Age of Existing Structure' as a weakness, implying 'potential for outdated systems, deferred maintenance, or the need for extensive renovation/demolition'. To convert this commercial building into modern residential units would require substantial rehabilitation, if not partial or full demolition, making its current condition for residential living 'poor' as it would be uncomfortable and unsuitable without major intervention.
Pros & Cons
Pros
Approved Development Plans: Seller has approved plans to build 4 units, each with 4 master bedrooms (total 16 master bedrooms), significantly de-risking and accelerating the development process for the buyer.
High Income Potential: Explicitly marketed as a 'GREAT INCOME PROPERTY' with substantial unit count (16 master bedrooms across 4 units) designed for strong rental revenue.
Strategic Downtown Location: Situated in a rapidly redeveloping area of Downtown San Bernardino, near key civic centers (City Hall, Police, Courthouse, Consulate) and major freeways (215, 210), enhancing rental demand and future appreciation.
Generous Lot Size & Parking: Combined lot size of approximately 18,000 sqft across two parcels provides ample space for the planned development and includes 'plenty of parking'.
Entry-Level Investment Opportunity: Positioned as an 'entry-level investment' to build a real estate portfolio, suggesting a potentially attractive price point for the significant development potential.
Cons
Significant Capital Investment Required: While development plans are approved, the actual construction of 4 units with 16 master bedrooms will necessitate substantial additional capital investment and project management beyond the purchase price.
Age of Existing Structure: The current commercial building was built in 1961, implying potential for outdated systems, deferred maintenance, or the need for extensive renovation/demolition to accommodate the new residential units.
Project Timeline & Risk: Despite approved plans, construction projects inherently involve risks such as cost overruns, delays, and market fluctuations during the development phase, which could impact projected returns.