$1,825,000
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0.36 Acres Lot
SOLD DATE : 10/13/2023
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW23120918
Sold Date 10/13/23
HOA Y/N No
Year Built 1978
Lot Size 0.362 Acres
Property Sub-Type Apartment
Property Description
Pleased to exclusively present the Pepper Tree Apartments, an 8-unit, multi family investment property located in the City of Fontana, California. This offering presents qualified investors the opportunity to acquire a well maintained asset in one of the most desirable rental markets in the Inland Empire. The subject property is comprised exclusively of two bedroom units averaging736 square feet of living space. Units are individually metered for electricity with a central water heater and presents tenants with an on-site laundry room. Carport parking is available for all tenants along with extra open spaces that could translate to an additional income stream. Located off Randall Ave, the offering benefits from its convenient access to retail, entertainment, schools, medical offices, parks & freeways--all within reach. Furthermore, proximity to Interstates 10, 15, and 210 freeways grants tenants access to surrounding employment hubs throughout the Inland Empire as well as Los Angeles & Orange County regions. With significant upside potential and growing demand for this submarket, the offering presents the astute investor the opportunity to acquire a cash flowing asset with additional upside through proactive management to capture projected 44% upside in rents.
Location
State CA
County San Bernardino
Area 264 - Fontana
Interior
Fireplace No
Laundry Common Area
Exterior
Carport Spaces 8
Pool None
Community Features Gutter(s), Sidewalks
Total Parking Spaces 12
Private Pool No
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 0193121450000
Energy Description 4713.0
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with ERIC CHEN CB RICHARD ELLIS
