460 S Berkeley Avenue, San Bernardino, CA 92410

Property Description

AFFORDABLE INCOME-PRODUCING PROPERTY WITH COMMERCIAL UPSIDE! An excellent opportunity for investors, owner-users or buyers seeking a potential 1031 exchange replacement property at an accessible price. The property currently generates $2,050 per month, or $24,600 in annual gross rent. Established month-to-month tenants have occupied the home since 2023, pay all utilities, have an excellent payment history and are willing to sign a new lease with the new owner. The approximately 9,500 sq ft lot provides substantial usable yard space for RVs, trucks, equipment or storage. The remodeled residence includes split-unit heating and air conditioning and may continue as a legally established residential use. A 2022 City letter confirms its status and limited reconstruction rights following a catastrophe. CCS-1 zoning provides future commercial potential. Uses identified by the City include administrative and professional offices, auto-parts sales, new car/RV/truck sales and vehicle leasing or rental with a Development Permit. Used car/RV/truck sales and service stations may be considered with a Conditional Use Permit. All uses and permit requirements must be independently verified with the City. Conveniently located near the 215 Freeway and Loma Linda University Health. Ideal for collecting rent today while holding for future commercial use. Property is sold AS IS. Photos are from 2023, before tenant occupancy; current condition may differ. Buyers completing a 1031 exchange should consult their tax and legal advisers.