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$12,500,000
Est. payment /mo
2.43 Acres Lot
UPDATED:
12/13/2024 07:14 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID IV24168540
HOA Y/N No
Year Built 1985
Lot Size 2.430 Acres
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.
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
Fireplaces Type None
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 56
Pool Community
Community Features Suburban, Pool
Total Parking Spaces 56
Private Pool No
Building
Lot Description 26-30 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 0190241100000
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard
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Listed by ALBERT LE • LE INVESTMENT GROUP • 909-256-7889