
Upland, California 91786
This four-unit Multifamily Asset represents a High-Potential Investment Opportunity, listed at a List Price of $1,250,000. While currently priced slightly above the $1,223,911 Fair Market Value, the property offers long-term stability through its RM-20 Zoning and exemption from local rent control. Featuring a Condition Rating of 4, the asset provides a reliable income stream with a desirable two-bedroom unit mix. Its strategic location near Downtown Upland and high parking-to-unit ratio make this an ideal acquisition for Buy-and-Hold Investors or Value-Add Syndicators.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 457 W Alpine Subject | $1,250,000* List Price | 0 | 0 | 3,456 | $354 | - |
A 548 N 2nd Avenue Sold | $888,000 | 4 | 3 | 2,171 | $409 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1962 (62 years old) with no mention of recent major renovations. While described as well-maintained and functional for a rental, the age and presence of wall-mounted AC units suggest dated systems and interiors that likely require modernization to meet current market standards.
The property features a uniform mix of high-demand two-bedroom units situated on a quiet cul-de-sac near Downtown Upland, ensuring strong tenant appeal and consistent occupancy.
Being exempt from local city rent control and governed only by California’s AB 1482 allows for more flexible rent increases and better long-term revenue growth potential.
The inclusion of four covered carports plus two additional open spaces provides a total of 1.5 off-street spots per unit, a significant competitive advantage in the local rental market.
Ownership currently covers water, sewer, trash, and gas utilities, which significantly increases operating expenses and compresses the net operating income.
The use of wall-mounted air conditioning units rather than central HVAC may be seen as a drawback for premium tenants and could lead to higher long-term maintenance costs.
We are pleased to present the opportunity to acquire a four-unit multifamily investment property located at 457 Alpine Street in Upland, California. Situated on a quiet tree-lined cul-de-sac street, the property offers investors the opportunity to acquire a well-located apartment asset within one of the Inland Empire’s most desirable rental markets. The property consists of approximately 3,456 square feet of rentable building area situated on a 0.17-acre RM-20 zoned lot. The two-story fourplex features a desirable unit mix consisting entirely of two-bedroom / one-bathroom units. The property offers four covered carport parking spaces and two additional open parking spaces, along with ample street parking availability. Additional property amenities include an onsite laundry room, central heating, wall-mounted air conditioning units, and a shaded courtyard area that enhances the tenant experience. Ownership currently pays for water, sewer, trash, and gas utilities. The property benefits from a highly desirable Upland location just blocks from Downtown Upland, offering tenants convenient access to a variety of restaurants, retail, entertainment, and neighborhood services. The asset is also located near Upland High School and provides convenient connectivity to surrounding employment centers and major transportation corridors throughout the Inland Empire and San Gabriel Valley. Additionally, the property is not subject to local city rent control and is governed only by California’s statewide rent control regulations under AB 1482. Overall, the offering represents an opportunity to acquire a well-maintained multifamily asset in a strong rental submarket with stable tenant demand, an attractive unit mix, and long-term investment potential in the highly sought-after Upland market.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 2.0 | 50% |
| Baths | 0.0 | 1.0 | 50% |
| Square foot | 3,456 | 1,996.5 | 75% |
| Lot Size | 7,480 | 7,337.5 | 50% |
| Price | $1.25M | $834.0K | 75% |
| Price per sq ft | $362 | $419 | 25% |
| Built year | 1962 | 1937 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 14 | 85 | 25% |
May 23, 2026
$1,250,000
Initial Listing
Jan 31, 2011
$395,000
Public Record
Oct 4, 2005
$735,000
Public Record
Apr 26, 2005
$620,000
Public Record