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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.
Property Type(s):
Residential Income
| Last Updated | 11/5/2024 | Year Built | 1985 |
|---|---|---|---|
| Community | Fontana | County | San Bernardino |
Price History
| Prior to Nov 5, '24 | $12,999,999 |
|---|---|
| Nov 5, '24 - Today | $12,500,000 |
Additional Details
| 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 |
Location
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Listed with LE INVESTMENT GROUP
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