8021 Mango Avenue
Fontana, CA 92336
2.43 acres | #IV24168540
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.
Property Details
- Lot DescriptionTwentySixToThirtyUnitsAcre
- CountySan Bernardino
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- Original List Price$12,999,999
- MLS #IV24168540
- MLS #IV24168540
- Property SubtypeApartment
- Cost12500000
- Utility SourcePublic
- Acres2.43
- Year Built1985
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: ALBERT LE (#IVLEALBER)
Listing Office: LE INVESTMENT GROUP (#IVLEIN)
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