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8021 Mango AVE Fontana, CA 92336
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Key Details
Sold Price $10,850,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 41,880 sqft
Price per Sqft $259
MLS Listing ID IV24168540
Sold Date 01/27/25
HOA Y/N No
Year Built 1985
Lot Size 2.430 Acres
Acres 2.43
Property Sub-Type Apartment
Property Description
True value-add opportunity by replacing current below market rents & continuing unit renovations. / 6.25% ProForma Cap Rate / ProForma Rents will be achieved with new lease ups. / 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).
First time to the market in 30+ years. True value-add opportunity, with rents for subject property being approximately 40% under market. Welcome to this exceptional 56-unit apartment building the Mango Tree Apartments, ideally located in the heart of Fontana, CA. Built in 1985 and set on a generous 2.43-acre lot, this property offers a perfect blend of comfort and convenience for residents. The community features 16 spacious one-bedroom, one bathroom units and 40 two-bedroom, two-bathroom units. Residents benefit from private balconies, perfect for relaxing and enjoying the surroundings.
Location
State CA
County San Bernardino
Area 264 - Fontana
Interior
Fireplaces Type None
Laundry Common Area
Exterior
Pool Community
Community Features Suburban
Private Pool No
Building
Lot Description 26-30 Units/Acre
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Special Listing Condition Standard
Lease Land No
Confidential INFO
TERMS Submit
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE See Remarks
SHOW INSTRUCTIONS Contact for full offering memorandum. Drive by only, please do not disturb the tenants.
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Bought with LE INVESTMENT GROUP