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Additional details
Listed by ALBERT LE • LE INVESTMENT GROUP
$12,500,000
Est. payment /mo
41,880 SqFt
UPDATED:
12/13/2024 04:05 AM
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 41,880 sqft
Price per Sqft $298
MLS Listing ID CRIV24168540
HOA Y/N No
Originating Board Datashare California Regional
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.
Location
State CA
County San Bernardino
Interior
Fireplace No
Laundry Other
Building
Water Public
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