1721 N FAIRFAX DR N San Bernardino, CA 92404

Price Reduced Again! Bank REO - The Fairfax Apartments are located on Fairfax Drive in San Bernardino. This multifamily asset consists of 16 units that are made up of all 2 bd, 1 ba units. The parcel has 4 separate buildings each housing 4 units with a center courtyard. The buildings were originally constructed in 1963 and are two stories each. According to title records, there is a gross square footage of 14,136, which calculates to an average square footage of 884 per unit.The property is currently a bank owned REO asset and under professional third party management. Based on their June collections, there are 8 units currently occupied with 7 of the 8 having paid rent and one unit being an on-site manager unit. The approximate current rents are $700 each, but with new ownership and management, it is believed that these rents can be quickly raised to a market level of $750 each. 8 units are vacant and need varying degrees of rehab to be brought to rent ready condition