8021 Mango Ave | Fontana, CA 92336
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- LoopNet Team
8021 Mango Ave
Fontana, CA 92336
2nd Million Dollar Price Reduction · Multifamily Property For Sale
·
56 Units
INVESTMENT HIGHLIGHTS
- 2nd Substantial price reduction of $1,000,000 from $12.5 Million to $11.5 Million / Seller is motivated to meet the market & sell this asset.
- Rents for subject property are approximately 40% under market per recent rental survey conducted.
- Excellent Unit Mix of 70% 2-Bedroom, 2- Bathroom Units (40), & 30% 1-Bedroom, 1- Bathroom Units (16).
- ProForma rents already being achieved by new lease-ups. / Priced below market at $205,357/unit.
- True value-add opportunity by replacing current below market rents & continuing unit renovations. / 6.88% ProForma Cap Rate
- First Time To The Market in 30+ Years /The property was constructed in 1985 & is positioned on a large 2.43 Acre Lot.
PROPERTY FACTS
| No. Units | 56 | Building Size | 49,473 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1985 |
| Building Class | C | Parking Ratio | 1.76/1,000 SF |
| Lot Size | 2.36 AC | ||
| Zoning | FBC | ||
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.36 AC |
| Building Size | 49,473 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 1.76/1,000 SF |
| Zoning | FBC |
AMENITIES
UNIT AMENITIES
- Balcony
- Heating
- Kitchen
- Tub/Shower
- Patio
SITE AMENITIES
- Laundry Facilities
- Pool
- Property Manager on Site
- Smoke Free
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | $1,700 | 600 |
| 2+2 | 40 | $1,850 | 800 |
PROPERTY TAXES
| Parcel Number | 0190-241-10 | Improvements Assessment | $4,072,290 |
| Land Assessment | $591,138 | Total Assessment | $4,663,428 |
PROPERTY TAXES
Parcel Number
0190-241-10
Land Assessment
$591,138
Improvements Assessment
$4,072,290
Total Assessment
$4,663,428
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