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8021 Mango AVE Fontana, CA 92336
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Key Details
Sold Price $10,850,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID IV24168540
Year Built 1985
Lot Size 2.430 Acres
Property 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.
Location
State CA
County San Bernardino
Area 264 - Fontana
Interior
Fireplaces Type None
Laundry Common Area
Exterior
Pool Community
Community Features Suburban, Pool
Building
Lot Description 26-30 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Submit
Listing Terms Submit
Special Listing Condition Standard
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Bought with ALBERT LE • LE INVESTMENT GROUP