The property located at 1221 Rancho Ave in Colton, CA. This is a light renovation project with just a few cosmetic fixes to bring out the charm!
There’s 3bd/2ba and the property has already many upgrades. Property sits on a large lot with endless opportunities for a ADU or garage conversion.
The existing loan will remain in place at 4% with a loan balance of $138,000, monthly PITI are $1155.
Estimated turn-around time from beginning of rehab to sold is 3 to 4 months.
Comps
- 1241 Tejon Ave, Colton – 3BD/2BA – 1286SQFT- Sold $500K – 03/2023
- 728 W Herberts Ln, Colton – 3BD/2BA – 1362SQFT – Sold $441K – 02/2023
- 1099 W Kimberly Ave – 3BD/2BA – 1443SQFT – Sold $518K – 04/2023
- 964 Grand Ave, Colton – 3BD/2BA – 1155SQFT – Sold $480K – 08/2022
By the Numbers
Acquisition Cost: $250,000 + Closing: $4,000
Subject to Existing Loan: $138,000
Rehab Cost: $25,000
After Repair Value: $480,000
Terms of offering: $255,000 / 12 months @ 9.5%
Interest Only Payment: $1912.50
RPR Property Report
| Address: | 1221 N Rancho Ave |
| City: | Colton |
| State: | CA |
| Zip Code: | 92324 |
| Year Built: | 1954 |
| Square Feet: | 1,380 |
| Bedrooms: | 3 |
| Bathrooms: | 2 |
| Property Type: | Single Family |
