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.
|
DAYS ON MARKET
|
104
|
LAST UPDATED
|
11/5/2024
|
|
YEAR BUILT
|
1985
|
COMMUNITY
|
Fontana
|
|
COUNTY
|
San Bernardino
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
|
Prior to Nov 5, '24
|
$12,999,999
|
| Nov 5, '24 - Today |
$12,500,000 |
| AREA |
Fontana |
| LOT |
2.43 acre(s) |
| LOT DESCRIPTION |
26-30 Units/Acre |
| POOL |
Yes |
| POOL DESCRIPTION |
Community |
| SEWER |
Public Sewer |
| STORIES |
2 |
| WATER |
Public |
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Listed with LE INVESTMENT GROUP
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 11/25/24 2:24 PM PST 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. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2024.
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