8021 Mango Avenue, Fontana, CA 92336

About this property

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.

Listing description from the January 2025 sale, as reported to CRMLS.

Sale history

$10,850,000

Sold January 2025 · listed $12,500,000, orig. $12,999,999, on market August 2024 · MLS #IV24168540 · Source: CRMLS

Listing Agent: ALBERT LE · Listing Office: LE INVESTMENT GROUP · Contact: 909-256-7889 · Bought with: ALBERT LE · LE INVESTMENT GROUP

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