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.
Sold for $10,850,000
Zillow last checked:
Listing updated:
Bought with:
ALBERT LE, DRE #01468313
LE INVESTMENT GROUP
Source: CRMLS,MLS#: IV24168540
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSPrice history
| Date | Event | Price |
|---|---|---|
| 1/27/2025 | Sold | $10,850,000-13.2%$259/sqft |
Source:  CRMLS #IV24168540 Report a problem | ||
| 11/5/2024 | Price change | $12,500,000-3.8%$298/sqft |
Source: CRMLS #IV24168540 Report a problem | ||
| 8/15/2024 | Listed for sale | $12,999,999$310/sqft |
Source: CRMLS #IV24168540 Report a problem | ||
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Estimated market value
$5,868,500
