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Athena Garden Apartments 2294 Kendall Dr 41 Unit Apartment Building $9,500,000 ($231,707/Unit) 4.23% Cap Rate San Bernardino, CA 92407
Investment Highlights
- New exterior Stairways and ramps, new vinyl windows in most units, and 20 new kitchens.
- The property is located near Cal-State San Bernadino College and the 210 Freeway.
- Ample parking for both tenants and guests.
Executive Summary
2294 Kendall Drive is a 41-unit apartment property on an oversized lot of 147,668 SF in San Bernardino, California. This rare property consists of 11 individual structures with a total of 41 units. Each unit is a 2 bedroom with one and a half baths. In recent years management has spent approximately $450,000 in capital expenditures. For example: new exterior stairways and ramps; new vinyl windows in most units; and 20 new kitchens. During hot summer nights, the complex offers significant green space for both tenants and pets to roam the complex and appreciate local scenery. During higher temperatures tenants can enjoy the onsite swimming pool. The property offers ample parking for both tenants and guests. This property is well located near Cal-State San Bernardino College and the 210 Freeway.
Property Facts
| Price | $9,500,000 | Apartment Style | Garden |
| Price Per Unit | $231,707 | Building Class | B |
| Sale Type | Investment | Lot Size | 3.39 AC |
| Cap Rate | 4.23% | Building Size | 40,040 SF |
| No. Units | 41 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1989 |
| Property Subtype | Apartment | Parking Ratio | 1.92/1,000 SF |
| Zoning | RU - Residential | ||
| Price | $9,500,000 |
| Price Per Unit | $231,707 |
| Sale Type | Investment |
| Cap Rate | 4.23% |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.39 AC |
| Building Size | 40,040 SF |
| No. Stories | 2 |
| Year Built | 1989 |
| Parking Ratio | 1.92/1,000 SF |
| Zoning | RU - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Family Room
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Pool
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 930 |
| 2+1.5 | 35 | - | 930 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0261-231-27 | Improvements Assessment | $2,908,780 |
| Land Assessment | $556,449 | Total Assessment | $3,465,229 |
Property Taxes
Parcel Number
0261-231-27
Land Assessment
$556,449
Improvements Assessment
$2,908,780
Total Assessment
$3,465,229
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Athena Garden Apartments | 2294 Kendall Dr
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