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305 W Olive Avenue

Redlands, CA 92373

– beds
– baths
– sqft
8,400 sqft lot
1906 build
– on site

We are proud to exclusively present for sale a 7-unit apartment community located at 305 W Olive Avenue in the historic downtown district of the city of Redlands. The property is part of a portfolio of multifamily properties all within blocks of one another which includes 305 W Olive Avenue (7 Units); 205 W Fern Avenue (8 Units); 108 W Olive Avenue (4 Units); and 304 Eureka Street (3 Units). All properties can be sold together or individually. 305 W Olive Avenue is located south of Interstate 10 and is situated between Alvarado Street and Grant Street, south of Redlands Boulevard. It is walking distance to downtown Redlands, Olive Market, the Redlands Bowl and Smiley Library. It is within biking distance to ESRI (the city’s top employer) and the University of Redlands; and within five miles of Loma Linda University Medical Center. 305 W Olive Avenue offers convenient access to the 10, 210 and 215 freeways and neighboring cities in the county—Loma Linda, Yucaipa, and Colton. It is located less than 6 miles from the San Bernardino International Airport and just a short drive from Riverside, Ontario, Moreno Valley, and San Bernardino – all major logistic hubs within the region. Several significant local landmarks are also within a short distance, including: Yaamava' Resort & Casino, Big Bear Lake, Lake Arrowhead, the San Bernardino National Forest, Morongo Casino Resort & Spa and more. Built in 1906, 305 W Olive Avenue is comprised of one three-story mansion that was legally converted to seven units comprising of two studios, four one-bedroom/one-bath units, and one large penthouse one-bedroom/one-bathroom unit. The property has a lot size of ±8,400 square feet and total rentable square feet of approximately ±3,800 square feet. The units feature built-in cabinetry, high ceilings, ceiling fans, wall air conditioning and heating, and included appliances. The common areas feature lush landscaping with large mature trees and an on-site laundry facility. 305 W Olive Avenue is an income-producing property and a great long-term value-add investment opportunity. 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.

Listed By CRMLS_CA / ERIC CHEN / CB RICHARD ELLIS / 626-757-5717

Last checked: Checking… • Last updated Nov 2, 2024 •

MLS# CV24226009 —

The Building

Year Built:

1906
Year Built Source:

Assessor
New Construction:

No
Entry Level:

1
Common Walls:

2+ Common Walls
Building Area Total:

3800.00
Building Area Units:

Square Feet
# of Buildings:

1
Total Number Of Units:

7
Stories Total:

2
# of Separate Gas Meters:

1
# of Separate Water Meters:

1
# of Separate Electric Meters:

1

Interior

Levels:

Two
Entry Location:

1
Laundry:

Common Area
Laundry:

1

Location

Directions:

Merge onto I-10 E, Take exit 79 toward Orange St/CA-38/Downtown Redlands, Turn right onto Eureka St, Turn right onto W Olive Ave
Latitude:

34.05157900
Longitude:

-117.18398600

The Property

Property Type:

Residential Income
Subtype:

Apartment
Lot Features:

6-10 Units/Acre
Lot Size Area:

8400.0000
Lot Size Acres:

0.1928
Lot Size SqFt:

8400.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

008200
Tax Tract:

N
Tax Lot:

3

The Listing

Special Listing Conditions:

Standard
Parcel Number:

0171321220000

Heating & Cooling

Heating:

1
Heating:

Wall Furnace
Cooling:

Yes
Cooling:

Wall/Window Unit(s)

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Senior Community:

No
Features:

Curbs, Sidewalks
Pool:

None
Private Pool:

No
Spa Features:

None
Association:

No

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Sale history

Date	Event	Source	Price	% Change
11/1/24 Nov 1, 2024	Listed / Active	CRMLS_CA	$1,400,000

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This multifamily located in South Redlands, Redlands, CA 92373 is currently for sale for $1,400,000. 305 W Olive Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 4 days. 305 W Olive Avenue is in the South Redlands neighborhood of Redlands and has a WalkScore® of 88, making it very walkable. This multifamily is in the attendance area of Redlands High School, Mckinley Elementary School, and Cope Middle School.

Listing Courtesy of: CRMLS_CA and CB RICHARD ELLIS. Based on information from California Regional Multiple Listing Service, Inc. as of 18:54 on Nov 05.

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.