1479 N Lugo Ave 6 Unit Apartment Building $1,179,500 ($196,583/Unit) 6% Cap Rate San Bernardino, CA 92404

Marcus & Millichap is pleased to present 1479 N Lugo Avenue, a six-unit apartment property located in the heart of San Bernardino, California. Positioned near the I-215 and I-210 Freeways, the property offers excellent connectivity to Downtown San Bernardino, regional job centers, and local amenities that continue to drive renter demand and long-term investment stability.
The property sits on a 7,750-square-foot lot and features approximately 4,500 square feet of rentable living area. Each of the six units is a two-bedroom, one-bathroom layout averaging 750 square feet, providing residents with spacious interiors and functional designs that appeal to working professionals and small families seeking affordability and comfort.
Priced at $196,583 per unit, 1479 N Lugo Avenue is positioned below the average price per unit of $219,450 for comparable properties currently on the market. This favorable pricing provides investors with an attractive entry point and measurable upside potential.
The property currently generates $9,900 in monthly gross rent and offers additional upside through achievable rent increases and continued management optimization. Residents enjoy close proximity to Downtown San Bernardino, the Inland Center Mall, San Manuel Stadium, and Glen Helen Regional Park, along with convenient access to the Santa Ana River Trail, offering outdoor recreation just minutes from home. This blend of urban accessibility and nearby green space enhances both livability and long-term tenant demand.
With more than half of San Bernardino’s households renter-occupied, strong rental demand and below-average homeownership rates continue to support multifamily stability across the region. 1479 N Lugo Avenue represents a well-maintained, income-producing investment that combines attractive in-place performance, measurable upside, and a location that continues to benefit from the city’s ongoing growth and revitalization.