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North Sierra Apartments 236 E 48th St 20 Unit Apartment Building $3,300,000 ($165,000/Unit) 6.40% Cap Rate San Bernardino, CA 92404
INVESTMENT HIGHLIGHTS
- Operating at a 6.40% CAP rate with a market pro forma of 7.60%.
- Desirable unit mix: (14) 1-bed, (5) 2-bed, and (1) 3-bed units across 12,914 rentable SF
- Large 0.68-acre island lot with surface covered parking and room for operational flexibility.
- 1985 construction with key capital improvements: copper plumbing, main line replaced, and recent roof repairs
- Located in North San Bernardino, a low-turnover submarket near Cal State, major employers, and freeway access
EXECUTIVE SUMMARY
Le Investment Group is proud to present the North Sierra Apartments, a 20-unit multifamily property located in North San Bernardino. The unit mix includes (14) 1-bed, (5) 2-bed, and (1) 3-bed units across 12,914 SF on a 0.68-acre lot with on-site parking. Built in 1985, the asset features copper plumbing, a full main line replacement, recent roof repairs, and updated interiors upon turnover. Currently operating at a 6.40% cap rate with a pro forma of 7.60%, this stabilized property offers immediate cash flow with rental upside, situated near Cal State San Bernardino and major freeways in a low-turnover submarket.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $3,300,000 | Apartment Style | Low-Rise |
| Price Per Unit | $165,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.68 AC |
| Cap Rate | 6.40% | Building Size | 13,228 SF |
| Gross Rent Multiplier | 9.12 | No. Stories | 2 |
| No. Units | 20 | Year Built | 1985 |
| Property Type | Multifamily | Parking Ratio | 2.57/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-3, San Bernardino | ||
| Price | $3,300,000 |
| Price Per Unit | $165,000 |
| Sale Type | Investment |
| Cap Rate | 6.40% |
| Gross Rent Multiplier | 9.12 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.68 AC |
| Building Size | 13,228 SF |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 2.57/1,000 SF |
| Zoning | R-3, San Bernardino |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Storage Space
- Heating
- Kitchen
- Range
- Tub/Shower
- Carpet
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Gated
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 600 |
| 2+2 | 5 | - | 900 |
| 3+2 | 1 | - | 1,400 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,764,364 (2025) | |
| Land Assessment | $508,743 (2025) | Total Assessment | $2,273,107 (2025) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$508,743 (2025)
Improvements Assessment
$1,764,364 (2025)
Total Assessment
$2,273,107 (2025)
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North Sierra Apartments | 236 E 48th St
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