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$12,500,000
Est. payment /mo
2 Sqft Lot
UPDATED:
12/12/2024 07:07 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRIV24168540
Originating Board California Regional MLS
Year Built 1985
Lot Size 2 Sqft
Property Description
True value-add opportunity by replacing current below market rents & continuing unit renovations. / 6.25% ProForma Cap Rate / ProForma Rents will be achieved with new lease ups. / Rents for subject property are approximately 40% under market per recent rental survey conducted. / Excellent Unit Mix of 70% 2-Bedroom, 2- Bathroom Units (40), & 30% 1-Bedroom, 1- Bathroom Units (16). First time to the market in 30+ years. True value-add opportunity, with rents for subject property being approximately 40% under market. Welcome to this exceptional 56-unit apartment building the Mango Tree Apartments, ideally located in the heart of Fontana, CA. Built in 1985 and set on a generous 2.43-acre lot, this property offers a perfect blend of comfort and convenience for residents. The community features 16 spacious one-bedroom, one bathroom units and 40 two-bedroom, two-bathroom units. Residents benefit from private balconies, perfect for relaxing and enjoying the surroundings.
Location
State CA
County San Bernardino
Area 264 - Fontana
Interior
Laundry Laundry Area
Exterior
Garage Spaces 56.0
Pool Community Facility
Building
Water District - Public
Others
Tax ID 0190241100000
Special Listing Condition Not Applicable
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Listed by ALBERT LE • LE INVESTMENT GROUP
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Sharad Gupta
Broker | License ID: 02213637
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