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1123 Bobbett Dr 6 Unit Apartment Building $1,290,000 ($215,000/Unit) 6.40% Cap Rate San Bernardino, CA 92410
Investment Highlights
- Offered at an attractive 6.40% cap rate and 10.48 GRM, providing strong in-place returns.
- Recent roof replacement, new electrical breakers in select units, and remodeled interiors with fresh paint and upgraded finishes in select units.
- Well-maintained apartment community featuring ±4,188 rentable square feet on a ±12,622 square foot lot.
- Excellent unit mix of (4) 2 Bedroom / 1 Bath units and (2) 1 Bedroom / 1 Bath units, appealing to a wide range of tenants.
- Rear storage area offers the opportunity for supplemental storage income, providing investors with additional cash flow potential.
- Most units feature no shared walls, providing tenants with added privacy and helping support long-term occupancy.
Executive Summary
Marcus & Millichap is pleased to present 1123 Bobbett Drive, a six-unit multifamily property located in San Bernardino, California.
Offered at a 6.40% cap rate and 10.48 GRM, the property delivers strong in-place cash flow with additional long-term upside. The property consists of approximately ±4,188 rentable square feet on a ±12,622 square foot lot with a unit mix of (4) two-bedroom/one-bathroom units and (2) one-bedroom/one-bathroom units.
Most of the units are bungalow style with no shared walls, offering tenants added privacy and helping differentiate the property from traditional apartment layouts. Recent improvements include a newer roof, new electrical breakers in select units, and updated interiors in select units with fresh paint and upgraded finishes.
An additional storage area located at the rear of the property provides an opportunity for supplemental rental income, offering investors another potential source of revenue.
The property is conveniently located near the 210 and 215 Freeways, providing easy access throughout San Bernardino and the Inland Empire. Tenants also benefit from nearby employment centers, shopping, dining, schools, and everyday services.
Combined with its recent improvements, bungalow-style layout, and strong in-place returns, 1123 Bobbett Drive presents an attractive long-term investment opportunity.
Offered at a 6.40% cap rate and 10.48 GRM, the property delivers strong in-place cash flow with additional long-term upside. The property consists of approximately ±4,188 rentable square feet on a ±12,622 square foot lot with a unit mix of (4) two-bedroom/one-bathroom units and (2) one-bedroom/one-bathroom units.
Most of the units are bungalow style with no shared walls, offering tenants added privacy and helping differentiate the property from traditional apartment layouts. Recent improvements include a newer roof, new electrical breakers in select units, and updated interiors in select units with fresh paint and upgraded finishes.
An additional storage area located at the rear of the property provides an opportunity for supplemental rental income, offering investors another potential source of revenue.
The property is conveniently located near the 210 and 215 Freeways, providing easy access throughout San Bernardino and the Inland Empire. Tenants also benefit from nearby employment centers, shopping, dining, schools, and everyday services.
Combined with its recent improvements, bungalow-style layout, and strong in-place returns, 1123 Bobbett Drive presents an attractive long-term investment opportunity.
Property Facts
| Price | $1,290,000 | Building Class | C |
| Price Per Unit | $215,000 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 4,188 SF |
| Cap Rate | 6.40% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.48 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1948 |
| Property Type | Multifamily | Parking Ratio | 2.39/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM | ||
| Price | $1,290,000 |
| Price Per Unit | $215,000 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Gross Rent Multiplier | 10.48 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 4,188 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 2.39/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 0278-031-08 | Improvements Assessment | $546,628 |
| Land Assessment | $232,723 | Total Assessment | $779,351 |
Property Taxes
Parcel Number
0278-031-08
Land Assessment
$232,723
Improvements Assessment
$546,628
Total Assessment
$779,351
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1123 Bobbett Dr
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