1319 Acacia,San Bernardino, CA 92405
San Bernardino, CA 92405
Description
HIGHLIGHTS: Attractive going in and stabilized returns, featuring a 5.90% current cap rate and a 6.88% pro forma cap rate. (+20% NOI increase through rent growth) / $4,500 in monthly rent increases realized & an additional $4,000+ in monthly upside remaining to be captured through continued market rent adjustments / Extensive capital improvements completed under current ownership, new roofing, all new rooftop HVAC units, 25% of the units have interior updates. / Diversified ancillary income of $13,440 annually from laundry, pet rent, and garage income. / Recently renovated onsite laundry facility, featuring a $25,000 capital investment. Non-renovated units $6,000/unit in targeted updates. / Secure, fully gated community enhanced by a comprehensive 44 camera security system. / Desirable unit mix. / The apartment community located at 1319 Acacia Avenue in San Bernardino, California is ideally positioned between the I-215, I-10, and I-210 freeways, offering excellent regional connectivity. Situated on a 0.70-acre corner lot, the property benefits from strong visibility, convenient access, and onsite parking. The 22-unit community features a highly desirable unit mix consisting of (12) one-bedroom/ one-bath units, (9) two-bedroom/one-bath units, and (1) three-bedroom/two-bath unit, allowing the property to attract a broad tenant demographic. Current ownership has made extensive capital improvements, significantly enhancing both operational efficiency and tenant appeal. Upgrades include all new rooftop HVAC units, new roofing, and full interior renovations to approximately 25% of the units. The property is fully gated and secured by a comprehensive 44-camera security system, reinforcing resident safety and long-term asset stability. Additionally, the onsite laundry facility has undergone a $25,000 renovation, generating approximately $2,400 in annual laundry income, along with $2,640 in annual garage income and $8,400 in annual pet income.
Details
| MLS | IV26066422 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1987 |
| Days On Site | 167 |
| Listing Provided By | LE INVESTMENT GROUP | ALBERT LE |
Features
| SQ Feet | 15,742 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 22 |
| Building(s) | 2 |
| Acreage | 0.70 |
Exterior
| Lot Features | Eleven To Fifteen Units Acre |
|---|
Parking
| Parking Features | Covered, Storage |
|---|---|
| Garage Yes / No | No |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Curbs |
|---|
Area Information
| State | CA |
|---|---|
| County | San Bernardino |
| City | San Bernardino |
| Zip Code | 92405 |
| Area | 274 San Bernardino |
| Listing VS Median (in 92405) | |
Price: $3,995,000 low | high Med: $480,000 sqft: 15,742 low | high Med: 1,177 $ / sqft: $254 low | high Med: $409 On site: 167 low | high Med: 52.5 | |
Market Activity 92405
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Learn More About This Property
| State | CA |
|---|---|
| County | San Bernardino |
| City | San Bernardino |
| Zip Code | 92405 |
| Area | 274 San Bernardino |
| Listing VS Median (in 92405) | |
Price: $3,995,000 low | high Med: $480,000 sqft: 15,742 low | high Med: 1,177 $ / sqft: $254 low | high Med: $409 On site: 167 low | high Med: 52.5 | |