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Elm Village Apartments 7443 Elm St

20 Unit Block of Flats £3,234,900 (£161,745/Unit) 6.52% Net Initial Yield Highland, CA 92410

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Investment Highlights

Ideal Opportunity to Acquire a 20-Unit Property in Highland with a 6.52% Cap Rate Already In Place
Assumable Freddie Mac Loan of Approximately $1,800,000 at 3.47% Fixed Interest Rate through January 2031/30 Year Amortization (Not Required)
Value-Add Opportunity; Approximately 18% Rental Upside Potential through Continued Interior & Exterior Renovations

Well-Kept ±17,040 SF Property Situated on a Spacious ±26,200 SF Lot Built in 1964
Featuring Two-Bedroom Floor Plans | Average Unit Size of 855 Square Feet
Heavily Renovated and Upgraded Property Including: Exterior Paint, Full Roof Replacement, Soft Story Seismic Retrofit, Security Camera System

Executive Summary

CBRE, Inc., as exclusive advisor, is proud to present an exceptional opportunity to acquire a meticulously renovated 20-Unit multifamily property located at 7443 Elm Street in the city of Highland. This ±17,040 SF Building is situated on a generous ±26,200 SF lot.
Highland boasts a strong workforce with major regional distribution centers, creating consistent demand for rentals due to the steady influx of residents. Units feature fully equipped kitchens with oven ranges, dishwashers, refrigerators, vertical blinds, wall AC/heating, high-speed Internet and a combination of stylish plank wood and carpet flooring throughout.
The property boasts mature landscaping with lovely mountain views, laundry facilities, and onsite carport and ample street parking. 7443 Elm Street offers a central location with convenient access to the Metrolink San Bernardino Commuter Rail Station. The property is also close to shopping centers, theaters, restaurants, and trendy shops, catering to diverse needs and providing excellent entertainment options.
7443 Elm Street is a stable income-producing asset in the Inland Empire, promising a strong return on investment. Whether you’re a first-time investor seeking to enter the market, a seasoned investor looking to expand your portfolio, or considering a 1031 Exchange, this property offers exceptional stability and long-term value.

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	£337,676	£19.82
Other Income	£14,081	£0.83
Vacancy Loss	£17,588	£1.03
Effective Gross Income	£334,170	£19.61
Taxes	£40,458	£2.37
Operating Expenses	£82,817	£4.86
Total Expenses	£123,275	£7.23
Net Operating Income	£210,895	£12.38

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	£337,676
Annual Per SF	£19.82

Other Income
Annual	£14,081
Annual Per SF	£0.83

Vacancy Loss
Annual	£17,588
Annual Per SF	£1.03

Effective Gross Income
Annual	£334,170
Annual Per SF	£19.61

Taxes
Annual	£40,458
Annual Per SF	£2.37

Operating Expenses
Annual	£82,817
Annual Per SF	£4.86

Total Expenses
Annual	£123,275
Annual Per SF	£7.23

Net Operating Income
Annual	£210,895
Annual Per SF	£12.38

Property Facts

Price	£3,234,900	Building Class	C
Price Per Unit	£161,745	Lot Size	0.60 AC
Sale Type	Investment	Building Size	17,040 SF
Net Initial Yield	6.52%	Average Occupancy	100%
Gross Rent Multiplier	9.2	Number of Floors	2
No. Units	20	Year Built	1964
Property Type	Residential	Parking Ratio	1.17/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	£3,234,900
Price Per Unit	£161,745
Sale Type	Investment
Net Initial Yield	6.52%
Gross Rent Multiplier	9.2
No. Units	20
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.60 AC
Building Size	17,040 SF
Average Occupancy	100%
Number of Floors	2
Year Built	1964
Parking Ratio	1.17/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

Dishwasher

Refrigerator

Site Amenities

Laundry Facilities

Unit Mix Information

Description	No. Units	Avg. Rent.Mo	SF
2+1	18	£877.37	850
2+2	2	£1,416	900

PROPERTY TAXES

Parcel Number	0278-121-34	Total Assessment	£2,012,076 (2024)
Land Assessment	£335,346 (2024)	Annual Taxes	£40,458 (£2.37/sf)
Improvements Assessment	£1,676,730 (2024)	Tax Year	2023