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.
Property Details
Price:
$12,500,000
MLS #:
IV24168540
Status:
Active
Baths:
0
Address:
8021 Mango Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
264fontana
City:
Fontana
Listed Date:
Aug 10, 2024
State:
CA
ZIP:
92336
Lot Size:
105,850 sqft / 2.43 acres (approx)
Year Built:
1985
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Schools
Interior
Fireplace Features
None
Exterior
Community Features
Suburban
Garage Spaces
0.00
Lot Features
26-30 Units/ Acre
Parking Spots
56.00
Pool Features
Community
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address8021 Mango Avenue Fontana CA
- Area264 – Fontana
- CityFontana
- CountySan Bernardino
- Zip Code92336
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8021 Mango Avenue
Fontana, CA
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