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Backup Offers

305 W Olive Ave, Redlands, CA, 92373

$1,400,000

Home List Price

$10,000*

Closing Credit

0 Baths
Condo

Location

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305 W Olive Ave, Redlands$1,400,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeCondominium
Year Built1906
HeatingWall Furnace
CoolingWall/Window Unit(s)
MLS #CV24226009
Lot Size0.19 Acres
StatusAccepting Backup Offers
(Active Under Contract)

About 305 W Olive Ave

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.

Property Details

Property Features

Property Information:

  • Year Built: 1906
  • Stories: 2

Listing Office:

  • Office Name: CB RICHARD ELLIS
  • Office Phone: (626) 757-5717
  • Listing Agent: ERIC CHEN

Exterior Features

Exterior Information:

  • Private Pool: No

Lot Features

Lot Information:

  • Lot Size: 0.19 Acres

Utilities

Utilities Information:

  • Heating: Wall Furnace
  • Cooling: Wall/Window Unit(s)

Other

Directions Information:

  • 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

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,400,000

Tax Information:

  • Annual Amount: $911
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Redlands, CA.

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Redlands, CA

City

Med. Sold Price

$633K

Med. Price/SqFt

$370

Avg. Days On Market

42

# of Sold Homes

43

305 W Olive Ave vs Redlands

15 DAYS ON ROCKET

-27 Days

$1,400,000

+$766.9K More

KEY TAKEAWAY

This property is $766.9K more than the Median Sold Price in Redlands, CA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: CRMLS
  • MLS Number: #CV24226009

Listing Office:

  • Office Name: CB RICHARD ELLIS
  • Office Phone: (626) 757-5717
  • Listing Agent: ERIC CHEN

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 7:20:51 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2021$911$58,165
2020$879$57,568
2019$862$56,439
2018$856$55,332
2017$849$54,247

History based on county public records data.

Payment Calculator

$7,055

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,264

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-364600
6
/10

  • McKinley Elementary School

  • 645 W Olive Ave

  • 0.26 miles

  • Public District Grades KG-5

school-card-donut-364601
6
/10

  • Kingsbury Elementary School

  • 600 Cajon St

  • 0.59 miles

  • Public District Grades KG-5

school-card-donut-364602
8
/10

  • Smiley Elementary School

  • 1210 W Cypress Ave

  • 0.93 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $61,349. Most Redlands, CA residents have annual incomes between $35k-100k. Typical family type is single, no kids. The majority of residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 305 W Olive Ave

What is the listing price of this property?

The listing price of 305 W Olive Ave property is $1,400,000.

What type of property is this?

The property 305 W Olive Ave is a condo located in Redlands, California, 92373.

Is this property for sale now?

Accepting Backup Offers: 305 W Olive Ave is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $911 (source: MLS/based on county public records data).

Which year was this property built?

The year of construction for 305 W Olive Ave is 1906.

Rocket Homes›California›San Bernardino County›Redlands›92373›305 W Olive Ave

This home is located at 305 W Olive Ave in Redlands, CA and zip code 92373 in the South Redlands neighborhood. This home, which was built in 1906, sits on a 0.19 acre lot. It has been listed on Rocket Homes since November 01, 2024 and is currently priced at $1,400,000.

In October 2024, from all listings sold in Redlands, CA there were more than 14 sold above asking price, over 15 sold below and more than 14 were sold right at the asked price. The number of listings in Redlands, CA increased by 4.9% between September 2024 and October 2024. In October 2024 median list price was $633,021 and the average listing age was 42 days.

From Rocket Homes Real Estate and based on county public records data.

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