338 W 7th Street, San Bernardino, California 92401, San Bernardino, - bed, bath
ACTIVE$949,900
338 W 7th Street, San Bernardino, California 92401
0Bed
0Bath
6,172Sqft
11,250Lot
Year Built
1961
Close
-
List price
$950K
Original List price
$950K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
DW25107597
Home ConditionPoor
Features
View-
About this home
Amazing opportunity to own this commercial building in the heart of San Bernardino! SELLER HAS THE PLANS APPROVED TO BUILD 4 Units, each Unit with 4 Master Bedrooms, a TOTAL OF 16 MASTER BEDROOMS! GREAT INCOME PROPERTY! With 6,172 square feet and a total lot size combined 2 lots (0140-282-26-0000) APPROX 18,000 FOR BOTH. This commercial place has plenty of parking and is completely fenced! This area is rapidly redeveloping in Downtown San Bernardino, near the City Hall, Police Department, Courthouse, Consulate of Mexico, and 215, 210 freeways. DON'T MISS OUT ON THIS RARE OPPORTUNITY TO BUILD A REAL ESTATE PORTFOLIO with this entry-level investment and income-generating asset!
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (1 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 6,172 | 3,686 | 50% |
| Lot Size | 11,250 | 9,063 | 50% |
| Price | $950K | $775K | 50% |
| Price per square foot | $154 | $327 | 50% |
| Built year | 1961 | 9600981 | 100% |
| HOA | |||
| Days on market | 176 | 198 | 50% |
Condition Rating
Poor
The property was built in 1961. The images show the exterior of a commercial building. The listing mentions approved plans to build 4 units, each with 4 master bedrooms. The images do not show the interior, kitchen, or bathrooms. Given the age and the commercial nature, and the need for significant construction, the condition is rated as poor.
Pros & Cons
Pros
Development Opportunity: Approved plans for 4 units, each with 4 master bedrooms, totaling 16 master bedrooms, presenting a significant development opportunity.
Income Potential: Great income property potential due to the high number of bedrooms and units upon completion of the approved plans.
Large Lot Size: Combined lot size of approximately 18,000 sqft provides ample space for the existing structure and planned development.
Prime Location: Located in the heart of San Bernardino, near City Hall, Police Department, Courthouse, Consulate of Mexico, and freeways (215, 210).
Redeveloping Area: The area is rapidly redeveloping, suggesting potential for increased property values and rental demand.
Cons
Construction Required: The property requires construction to realize the approved plans, involving time, resources, and potential risks.
Commercial to Residential Conversion: Converting a commercial building to residential units can present unforeseen challenges and expenses related to zoning and infrastructure.
Market Risk: The success of the development depends on the future rental market and demand for multi-bedroom units in the area.