316 W Lugonia Avenue, Redlands, California 92374, Redlands, - bed, bath

home-pic
ACTIVE$750,000
316 W Lugonia Avenue, Redlands, California 92374
0Bed
0Bath
2,437Sqft
15,011Lot
Year Built
1902
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
IG25124827
Home ConditionFair
Features
View-

About this home

TWO HOUSES ON ONE LOT. HOUSES SIT FACING LUGONIA STREET AND ARE SIDE BY SIDE. The addresses are 316 & 320 W Lugonia Ave. Each have their own electric & gas meters, water lines and drive ways. Each house has 2 bedrooms with 2 baths and are approximately 1200 sq foot each. 320 W Lugonia was built in 1928 and moved to this location back in 1950. The second home was added, built in the late 50s. Both have indoor laundry hook ups. Both units have updated electrical systems including main boxes, 316 has partially upgraded water piping, address 320 has full water piping upgrade. Unit 320 has carport parking and 316 has uncovered parking space. Both homes have their own fenced backyards. Unit 320 has newer roof, within 3-4 years old. BOTH PROPERTIES HAVE CENTRAL HEATING AND AIR SYSTEMS. They are close to Texonia Park, Citrus Plaza and easy freeway access. Could work well for an investor or an extended/multiple family living situation, or live in one and rent the other.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (183 Listings)
Beds03
Baths02
Square foot2,4371,603
88%
Lot Size15,0117,089
95%
Price$750K$600K
88%
Price per square foot$308$357
18%
Built year19029925993
1%
HOA
Days on market154173
41%
Condition Rating
Fair

The property consists of two houses, one built in 1902 and the other in the late 1950s. While some updates have been made (electrical, some plumbing, newer roof on one unit), the age of the properties suggests that the kitchens and bathrooms are likely outdated and require updates. The overall condition appears to be aged but maintained, fitting the 'fair' category.
Pros & Cons

Pros

Investment Potential: Two houses on one lot offer excellent investment opportunities, allowing for rental income from one or both properties.
Multi-Family Living: Ideal for extended families or those seeking to live in one unit and rent out the other, providing flexibility and potential income.
Updated Systems: Both units feature updated electrical systems and upgraded water piping (partial in 316, full in 320), reducing potential maintenance costs.
Central Heating and Air: Both properties are equipped with central heating and air conditioning systems, ensuring year-round comfort.
Convenient Location: Close proximity to Texonia Park, Citrus Plaza, and easy freeway access enhances the property's desirability and convenience.

Cons

Age of Properties: The properties were built in 1902 and the late 1950s, potentially requiring ongoing maintenance and updates due to their age.
Parking Limitations: While 320 has carport parking, 316 only offers uncovered parking, which may be a concern for some buyers.
Varied Construction Dates: The significant difference in construction dates (1902 and late 1950s) between the two houses might result in differing maintenance needs and aesthetic styles.

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