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38 Units | Prime Upland | Value-Add 2 Multifamily Properties Offered at $10,900,000 in Upland, CA
Investment Highlights
- 38 units in fantastic Upland location; minutes to Historic Downtown Upland
- Going-in cap rate of 5.5%; market cap rate of 6.7%; Attractively priced at $219 per square feet and $286K per unit
- New electrical panels at 249 & 289 Amber Court (2023)
- Rare opportunity to purchase two adjacent buildings; Tremendous rental upside with no city rent control
- Spacious “house-like” units averaging over 1,200 square feet (12 townhomes)
- New roof at 249 Amber Court (2025)
Executive Summary
Link to Doc Ctr: https://properties.berkadia.com/amber-court-properties-492804/
Berkadia is excited to exclusively offer a fantastic value-add opportunity in So Cal with tremendous upside and no city rent control! There are 38 total units in a highly desirable Upland location, minutes to Historic Downtown Upland. The opportunity is attractively priced at a going in cap rate of 5.5%; market cap rate of 6.7% (at conservative projected rents); $219 per square foot; and $286,842 per unit. The apartments are spacious, “house-like” units averaging over 1,200 square feet (12 townhomes). 249 Amber Court has new electrical panels (2023) and a new roof (2025). 289 Amber Court has new electrical panels (2023). Comprised of two adjacent buildings (249 Amber Court: 22 units and 289 Amber Court: 16 units), the properties are walking distance to neighborhood amenities such as CVS, Vons, Starbucks, Lucky Strike, Sprouts and more. Downtown Upland and the Upland Metrolink station are 6 minutes from the properties and Claremont Colleges are a short drive up Foothill Boulevard.
Berkadia is excited to exclusively offer a fantastic value-add opportunity in So Cal with tremendous upside and no city rent control! There are 38 total units in a highly desirable Upland location, minutes to Historic Downtown Upland. The opportunity is attractively priced at a going in cap rate of 5.5%; market cap rate of 6.7% (at conservative projected rents); $219 per square foot; and $286,842 per unit. The apartments are spacious, “house-like” units averaging over 1,200 square feet (12 townhomes). 249 Amber Court has new electrical panels (2023) and a new roof (2025). 289 Amber Court has new electrical panels (2023). Comprised of two adjacent buildings (249 Amber Court: 22 units and 289 Amber Court: 16 units), the properties are walking distance to neighborhood amenities such as CVS, Vons, Starbucks, Lucky Strike, Sprouts and more. Downtown Upland and the Upland Metrolink station are 6 minutes from the properties and Claremont Colleges are a short drive up Foothill Boulevard.
Property Facts
| Price | $10,900,000 | Status | Active |
| Price / SF | $137.87 / SF | Number of Properties | 2 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 5.50% | Total Building Size | 79,060 SF |
| Sale Type | Investment | Total Land Area | 1.78 AC |
| Price | $10,900,000 |
| Price / SF | $137.87 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 5.50% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 79,060 SF |
| Total Land Area | 1.78 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Amber Court I
249 Amber Ct, Upland, CA 91786 |
Multifamily | 49,866 SF | 1965 | - |
|
Amber Court II
289 Amber Ct, Upland, CA 91786 |
Multifamily | 29,194 SF | 1962 | - |
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