659 S 7th Street, Colton, CA 92324

Excellent investment opportunity in the city of Colton. This legal two-unit property features two separate 2 bedroom, 1 bathroom units, each with its own gas, water, and electric meter. Live in one unit and rent out the other, or rent out both for steady cash flow. One unit will be delivered vacant, projected rent is $1,850 per month, and the second unit is rented at $855 per month. The property generates a gross scheduled income of $32,400 per year, with low annual operating expenses of just $4,200. Net operating income is approximately $28,200 annually. Both homes have new roofs, and while the interiors could use some cosmetic upgrades and general TLC, the property offers strong value-add potential. Situated on a 6,664 square foot lot, the property includes driveway parking and a storage shed. No rent control. Eligible for FHA, Conventional, and VA financing. Do not disturb occupants. Drive by only. Ideal for investors or owner-occupants looking for a multi-unit property with … read more …