1377 Jasper Ave
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1377 Jasper Ave
2 Unit Apartment Building $1,151,838 CAD ($575,919 CAD/Unit) 5.05% Cap Rate Mentone, CA 92359
Investment Highlights
- 2 homes on a lot
- Separately metered for all utilities including water
- Each unit is a 4 bedroom and 2 bath home
- Low price per square foot
Executive Summary
This is a fantastic investment opportunity. *CAN DELIVER ONE HOME VACANT* 2 Homes on a lot with separate addresses of 1744 Capri Ave. and 1377 Jasper Ave. Each unit consists of 4 bedrooms and 2 bathrooms with a front and backyard. Each home is separately metered for water, gas and electric. The landlord only pays for trash and landscaping. These two homes are 2 blocks adjacent to Redlands and has the lowest price per square foot for a duplex in either Mentone or Redlands. You can't build anything for the price per square foot anymore. Each home has enough parking garages or car spaces for 3 to 4 cars each. One unit if fully renovated leaving potential to renovate the other and to achieve over $6,300 per month in gross rental income.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$83,185
|
$22.36
|
| Other Income |
$169
|
$0.05
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$83,354
|
$22.41
|
| Taxes |
$14,137
|
$3.80
|
| Operating Expenses |
$10,993
|
$2.96
|
| Total Expenses |
$25,130
|
$6.76
|
| Net Operating Income |
$58,224
|
$15.65
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $83,185 |
| Annual Per SF | $22.36 |
| Other Income (CAD) | |
|---|---|
| Annual | $169 |
| Annual Per SF | $0.05 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $83,354 |
| Annual Per SF | $22.41 |
| Taxes (CAD) | |
|---|---|
| Annual | $14,137 |
| Annual Per SF | $3.80 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $10,993 |
| Annual Per SF | $2.96 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $25,130 |
| Annual Per SF | $6.76 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $58,224 |
| Annual Per SF | $15.65 |
Property Facts
| Price | $1,151,838 CAD | Property Type | Multifamily |
| Price Per Unit | $575,919 CAD | Property Subtype | Apartment |
| Sale Type | Investment | Building Size | 3,720 SF |
| Cap Rate | 5.05% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.82 | No. Stories | 2 |
| No. Units | 2 | Year Built | 1979 |
| Price | $1,151,838 CAD |
| Price Per Unit | $575,919 CAD |
| Sale Type | Investment |
| Cap Rate | 5.05% |
| Gross Rent Multiplier | 13.82 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Size | 3,720 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 2 | $3,466 CAD | 1,860 |
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Lyon Stahl Investment Real Estate
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1377 Jasper Ave
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