580 W E Street
Colton, CA 92324
12,030 SF
Lot Size: 22500 sq.ft.
Year Built: 1963
MLS# CV20004356
Neighborhood: 273 - Colton
Active | Offered at $3,500,000

Troy Palmquist

DRE# 01772139

Property Description

580 West E Street is located in a mature, highly desirable, low-traffic neighborhood of Colton. It is a short drive from a variety of shopping venues, restaurants, and medical facilities near historic Colton. The property is centrally located within Colton and offers easy access to the I-10 freeway. Its location offers convenient access to the neighboring cities of Ontario, Rancho Cucamonga, San Bernardino, Redlands and Riverside. Orange County, Los Angeles County, mountain ski resorts and beach cities are all within a 1-hour drive. 580 West E Street is a rare, 2-story, 22-unit property. Built in 1963, the property is situated on a single parcel with a total of ±22,500 square feet of land, with a total building size of ±12,030 square feet. It features an excellent unit mix of studio, one-bed/one-bathroom and two-bedroom/ one-bathroom units averaging 547 square feet. There is significant rental upside to be captured by raising rents to market levels, and additional upside is available through interior and exterior renovations. This property features spacious units arranged in a courtyard layout around the central swimming pool. 580 West E Street is a prime Colton income-producing property and a great long-term investment. The property is in a highly desirable area and offers stability for any type of investor, whether it may be a first-time purchaser, seasoned investor, or a 1031 exchange opportunity.
Listing Provided By
ERIC CHEN, CB RICHARD ELLIS
Based on information from California Regional Multiple Listing Service, Inc. as of December 5, 2020. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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