7440 Carnelian St 7440-7446 Carnelian St 4 Unit Apartment Building $1,400,000 ($350,000/Unit) 4.89% Cap Rate Rancho Cucamonga, CA 91730

This well-maintained 4-unit property sits in the heart of North Rancho Cucamonga, bordering the city of Upland, moments from San Antonio Regional Hospital, Chaffey College, and the Metrolink Rancho Cucamonga Station. The property is generating a current cap rate of 4.89%, with a pro forma cap rate of 5.05%, at a price of $350,000 per unit.
Property Highlights
7440 Carnelian Street sits on an ±8,400 square foot lot with a total rentable area of ±3,746 square feet. The property presents a diverse unit mix of one 2-bedroom/1-bathroom unit, one 2-bedroom/2-bathroom unit, and two 3-bedroom/2-bathroom units, averaging 938 square feet per unit. Interiors have been updated throughout, featuring new vinyl plank wood flooring, upgraded kitchen and bathroom cabinetry, updated fixtures, fully equipped kitchens with appliances, recessed lighting, and upgraded bathrooms. Select units include a private patio or porch, and all units are outfitted with security screen doors and individual wall air conditioning and heating. The front 3-bedroom unit features a brick fireplace, adding a distinctive character element rarely found in similarly sized assets. The property is well-maintained with lush, mature landscaping throughout, an on-site laundry room, and ample carport and surface parking.
Strategic Location & Connectivity
7440 Carnelian Street is ideally situated in North Rancho Cucamonga, bordering Upland, providing residents with a quiet residential atmosphere while offering immediate access to the I-210 and I-15 freeways for seamless regional commuting. The Metrolink Rancho Cucamonga Station is conveniently nearby, offering tenants direct rail connectivity to Los Angeles Union Station and positioning the property as an ideal choice for transit-oriented renters. This strategic corridor along the 210 freeway makes the property equally accessible to employment centers across San Bernardino and Los Angeles counties.
Thriving Economy & Top Employers
Rancho Cucamonga is widely recognized as one of the most desirable places to live in San Bernardino County, consistently ranking among the top three to five cities in the region for overall quality of life. The city functions as an established hub for healthcare, education, logistics, and professional services, anchored by leading institutional employers including San Antonio Regional Hospital, Chaffey College, the Etiwanda and Chaffey Joint Union High School Districts, and the Ontario International Airport corridor. The presence of the $12 billion Brightline West high-speed rail project further elevates Rancho Cucamonga's regional profile, transforming it into a national transportation gateway and ensuring sustained housing demand. Residents enjoy proximity to Victoria Gardens — the 1.2 million-square-foot regional lifestyle center — Ontario Mills mall, Toyota Arena, and Topgolf, as well as the Pacific Electric Trail, creating a vibrant live-work-play environment that consistently attracts an affluent and stable tenant base of families and working professionals.
Stabilized Investment Opportunity
7440 Carnelian Street is a stable income-producing asset in one of North Rancho Cucamonga's most established residential neighborhoods. Whether you are a first-time investor seeking to enter the market, a seasoned investor looking to expand your portfolio, or considering a 1031 Exchange, this property offers exceptional stability and long-term value in a premier Inland Empire investment market.