202 E Jackson St
Rialto, CA 92376
Multifamily Property For Sale · 4 Units

The Rialto apartment market is one of the most sought after apartment markets in Southern California. Investors get a super low vacancy factor, huge tenant demand, great rising rents, with the investment security fundamentals equal to the LA & Orange County apartment markets. Moreover, in Rialto, you get the higher returns without taking higher risk. This fine 4Plex is located just off the 10 Freeway, at Pepper Street. And it's within walking distance of all major shopping. So tenant's that don't drive can walk to all their shopping needs. Also, please note that the job rich areas of Los Angeles and Orange Counties are just a short drive down the 10 Freeway. The owners have taken great care of this complex. The roof is new. The HVAC units are almost new. The kitchens and appliances have been remodeled and upgraded. This apartment has been kept up nicely, inside and out. Check out the pictures. You'll see what I mean. Now to the inside features of this apartment. There are TWO 3 bedroom, 2 bath units, and TWO 1 bedroom 1 bath units. All units have central heat and air. All the units have a private yard/patio area. Newer tile floors exist throughout. Roomy kitchens with custom cabinetry and upgraded appliances. Large functional living rooms to easily fit the largest sofa combos. And large bedrooms that easily fit king size beds. Also, these units have walk in closets. Another feature about this complex is that it's in a very nice neighborhood. If you Google map this address, navigate up and down the street and you'll see the whole block has a super pride of ownership. Tenant's want to live here for the niceness of this neighborhood, and the safety of their family. Each unit has its own carport, plus additional guest space parking. The same builder built most of these units on this block. And many of complexes on this block have added a garage door to the carports, making the carport into a garage. This would be a simple non-expensive upgrade for this complex. Further, turning a carport into a garage will get you even higher rents! Much less than one months rent would be a likely carport to garage conversion costs for all the units. The owners haven't bothered to raise the rents which is why they are so low. But all the tenancies are month to month or short term (less than a year) so can be re-adjusted back to market. Not only is this offering pretty, but it also really performs. At actual rents, its performance is excellent, and above market! We're talking about $52,620 annual gross income, a 13.11 Gross Rent Multiplier, a 6.43% Cap Rate, and a 9.24% Cash on Cash Return. But bring these month to month rents up to market rents, and its performance is breathtaking and unheard of in today's market. When you plug in nearby market rents (see rent comps), this investment stands out as one of the best performers in Southern California. These market rents put out a robust $67,200 gross annually, a 10.27 Gross Rent Multiplier, an astonishing 8.54% Cap Rate, and an incredible 19.80% cash on cash return. As you can see from the rent roll attached, the owner is only charging $850 monthly for the 1 bedrooms, and $1,285-$1,400 monthly for the 3 bedrooms. BUT check out the following nearby rent comps attached, just a few blocks away at $1,800-$2,395 monthly for the 3 bedrooms, and $1,000 monthly for the 1 bedrooms!! The existing tenant's know their rents are very low, but don't know the property is for sale. So please don't disturb the tenants.