Richland Apartments 665-671 Richland St 12 Unit Apartment Building $2,950,000 ($245,833/Unit) 5.92% Cap Rate Upland, CA 91786

12-Unit Multifamily Investment Offering | Exceptional Value-Add Potential
We are pleased to present for acquisition a stabilized 12-unit multifamily property ideally situated at the terminus of a quiet cul-de-sac. This offering represents a compelling opportunity for the discerning multifamily investor seeking a well-amenitized asset with meaningful upside potential in both income and density.
Property Overview
The subject property is positioned on an expansive 19,000 square foot lot and features a highly desirable unit amenity package, including dedicated single-car garages and central air HVAC systems for each of the twelve residences. These in-unit amenities are consistent with institutional-quality multifamily offerings and serve as a strong foundation for achieving and sustaining market-rate rents. On-site laundry facilities and additional garages designated for storage provide supplemental income streams that further enhance the property's overall revenue profile.’
Investment Summary
This offering is well-suited for the experienced multifamily investor, a 1031 exchange purchaser, or an owner-operator seeking to deploy capital into an asset that offers both durable in-place cash flow and a clearly defined path to value creation.
Value-Add Opportunity
The property presents a well-defined value-add business plan for the prospective investor. Current in-place rents reflect meaningful upside to prevailing market rates, offering the opportunity to organically grow net operating income through a measured lease-up strategy. Furthermore, the substantial 19,000 square foot lot affords considerable development optionality, including the potential addition of Accessory Dwelling Units (ADUs) through the conversion of select existing garage structures or through new ground-up construction on the available surplus land area — either of which would meaningfully enhance asset value and long-term yield.
Location & Accessibility
The property benefits from a desirable residential setting, tucked away from through traffic within a low-density cul-de-sac environment — a characteristic that supports strong tenant demand and above-average retention. Notwithstanding its tranquil setting, the property affords convenient and direct access to the Interstate 10 Freeway, providing residents with seamless connectivity to major regional employment centers, retail amenities, and transportation infrastructure.