7771 Mckinley Avenue, Highland, California 92346, Highland, - bed, bath

home-pic
ACTIVE$1,455,000
7771 Mckinley Avenue, Highland, California 92346
0Bed
0Bath
3,996Sqft
19,000Lot
Year Built
1988
Close
-
List price
$1.46M
Original List price
$1.46M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
IG25130434
Home ConditionGood
Features
Good View: Mountain(s), Neighborhood
ViewMountain(s), Neighborhood

About this home

Discover an exceptional investment opportunity at 7771 Mckinley Ave, Highland, 10% cap pro forma!! With Over 100K in capital invested in interior upgrades, this 12 bedroom 8 bathroom quadplex income property features three beautifully remodeled units with the fourth unit that's still in great shape, each unit offering 3 spacious bedrooms and 2 full bathrooms. The modern kitchens are equipped with appliances and stylish finishes, ensuring a contemporary living experience. Each unit boasts its own 2-car garage, complete with washer/dryer hookups, providing convenience and added value for tenants. With its prime location and impressive upgrades, this property is poised to deliver strong rental income and long-term appreciation with equatable income of an 8 unit! Fantastic return on investment with low maintenance and long term tenants. Don't miss out on this rare find!

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (5 Listings)
Beds00
Baths00
Square foot3,9962,700
83%
Lot Size19,00011,425
83%
Price$1.46M$803K
83%
Price per square foot$364$302
83%
Built year19889795994
67%
HOA
Days on market148153
50%
Condition Rating
Good

The property was built in 1988, but the listing mentions over 100K in interior upgrades, including remodeled units with modern kitchens and stylish finishes. The images show updated kitchens and bathrooms in some units. While not brand new, the property appears to be in good condition and move-in ready, justifying a 'good' score.
Pros & Cons

Pros

High Income Potential: The property boasts a pro forma 10% cap rate, indicating a strong potential for rental income and return on investment.
Remodeled Units: Three out of the four units have been beautifully remodeled with modern kitchens and stylish finishes, increasing tenant appeal and rental value.
Spacious Units: Each unit features 3 bedrooms and 2 full bathrooms, providing ample living space for tenants.
Individual Garages with Hookups: Each unit includes its own 2-car garage with washer/dryer hookups, offering convenience and attracting tenants.
Significant Capital Improvements: Over $100,000 has been invested in interior upgrades, reducing the need for immediate renovations and improving property value.

Cons

One Unit Not Remodeled: While three units are remodeled, the fourth unit is described as being in 'great shape' but not remodeled, potentially impacting overall rental income compared to fully upgraded units.
Age of Property: Built in 1988, the property may require ongoing maintenance and potential future upgrades to maintain its appeal and competitiveness.
Limited Information on Tenant Leases: The description mentions 'long term tenants' but lacks specific details about lease terms, rental rates, and potential for rent increases, which are crucial for assessing investment viability.

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