4165 N 3rd Avenue, San Bernardino, California 92407, San Bernardino, 92407 - bed, bath

4165 N 3rd Avenue, San Bernardino, California 92407 home-pic-0
ACTIVE UNDER CONTRACT$999,900
4165 N 3rd Avenue, San Bernardino, California 92407
0Bed
0Bath
3,324Sqft
39,060Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Great Schools: Elementary School: Hillside Elementary School (10/10).
Top Cons:
Shared Water Main: All three units operate on a single water main, which could complicate utility billing, lead to potential tenant disputes, or require future infrastructure upgrades for individual metering.

Compared to the nearby listings

Price:$999.9K vs avg $631.0K (+$368,900)75%
Size:3,324 sqft vs avg 2,502 sqft50%
Price/sqft:$301 vs avg $32650%

More Insights

Built in 1952 (73 years old).
Condition: Built in 1952, this multi-unit property has received some recent cosmetic updates, particularly in the primary unit's kitchen (newer cabinets, Quartz countertops) and bathroom (modern vanity), and wood laminate flooring throughout. However, the overall age of the property (72 years old) and the explicit mention of 'Aging Infrastructure Risk' indicate that major systems (HVAC, plumbing, electrical) are likely outdated or nearing the end of their lifespan. The second unit's kitchen, as seen in images, features older-style wood cabinets and basic countertops, and a window AC unit is visible, suggesting a lack of central cooling. While move-in ready, the property requires minor updates and potential significant investment in major systems due to its age, aligning with the 'Fair' condition.
Year Built
1952
Close
-
List price
$1,000K
Original List price
$1.1M
Price/Sqft
$301
HOA
-
Days on market
-
Sold On
-
MLS number
CV25016151
Home ConditionFair
Features
Good View:
Patio
View-

About this home

Breaking News! $50,000 Price Improvement!!! Don’t let this rare Investment opportunity to acquire these three-homes on almost full acre property!! Plenty of room on the back lot to sub-divide, potential access off West Merose Drive and build 4 more units/or homes. The primary unit has been updated with newer kitchen cabinets, Quartz countertop, wood laminate flooring throughout, freshly painted interior, front yard completed with rock scape and much more! Primary home features an amazing bonus room with cathedral ceilings wood beams, wood burning fireplace large windows with lovely view to the mountains, glass slider for easy access to backyard, the kitchen truly gives you a country feeling offering a nook area, garden window and laundry room adjacent, spacious living room. Three spacious bedrooms. The second unit is a cute estimated 918 sqft with 2 bedrooms, 1 full bathroom, family room, nook area, spacious kitchen, update kitchen cabinet’s, wood laminate throughout, one car garage, and fenced backyard. The third home is estimated 670sqft. Features a family room, nook area, full kitchen, one bedroom, one bathroom, wood laminate throughout. Far back of lot with endless possibilities such as subdivide and build units, but there is more! Additional structure behind primary home with wood laminate flooring great for hobby space or home office that is currently rented with primary unit. Separate property addresses, one water main for all three units, individual electric and gas meters. Walking distance to Newmark Elementary, Shopping centers, and short drive to CA State University of San Bernardino.

Nearby schools

4/10
Newmark Elementary School
Public,K-60.1mi
5/10
Little Mountain Elementary
Public,K-60.7mi
10/10
Hillside Elementary School
Public,K-60.8mi
3/10
Shandin Hills Middle School
Public,6-80.8mi
5/10
Cajon High School
Public,9-120.5mi
Condition Rating
Fair

Built in 1952, this multi-unit property has received some recent cosmetic updates, particularly in the primary unit's kitchen (newer cabinets, Quartz countertops) and bathroom (modern vanity), and wood laminate flooring throughout. However, the overall age of the property (72 years old) and the explicit mention of 'Aging Infrastructure Risk' indicate that major systems (HVAC, plumbing, electrical) are likely outdated or nearing the end of their lifespan. The second unit's kitchen, as seen in images, features older-style wood cabinets and basic countertops, and a window AC unit is visible, suggesting a lack of central cooling. While move-in ready, the property requires minor updates and potential significant investment in major systems due to its age, aligning with the 'Fair' condition.
Pros & Cons

Pros

Great Schools: Elementary School: Hillside Elementary School (10/10).
High Income & Development Potential: A rare investment opportunity featuring three existing income-generating units on an expansive, nearly full-acre lot with significant potential for subdivision and the addition of up to four more units.
Recent Price Improvement: The property has seen a substantial $50,000 price reduction, making it a more attractive and competitive offering in the current market.
Updated Primary Residence: The main unit boasts recent upgrades including newer kitchen cabinets, Quartz countertops, wood laminate flooring, fresh paint, and a bonus room with cathedral ceilings and mountain views.
Diversified Rental Income: Three distinct residential units (a primary home, a 2-bedroom unit, and a 1-bedroom unit) provide a robust and diversified income stream, enhancing investment stability.
Prime Location & Amenities: Strategically located within walking distance to Newmark Elementary and shopping centers, with a short drive to CA State University San Bernardino, offering excellent convenience and tenant appeal.

Cons

Shared Water Main: All three units operate on a single water main, which could complicate utility billing, lead to potential tenant disputes, or require future infrastructure upgrades for individual metering.
Aging Infrastructure Risk: Built in 1952, the property's age suggests potential for underlying infrastructure (e.g., plumbing, electrical, roofing not explicitly updated) to require significant maintenance or capital expenditure in the near future.
Complex Development Process: While offering significant development potential, subdividing the lot and constructing additional units would entail considerable costs, extensive permitting, and a lengthy timeline, posing a barrier for immediate realization of this value.

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