8021 Mango Avenue

Fontana, CA 92336

$12,500,000
Price
3
Beds
96
Baths
41,880 Sq. Ft.
$298 / Sq. Ft.
41,880
Sq. Ft.
$298
per Sq. Ft.

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...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.
  1. Listed by ALBERT LE • DRE #01468313 • Brokerage DRE #01923766 • LE INVESTMENT GROUP • 909-256-7889

Property Details for 8021 Mango Avenue

Parking Spaces Total
56
Private Pool
No
Total Units
56.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
41880
Assessor Parcel Number
0190-241-10-0000
Property Attached YN
true
LISTING UPDATED: 11/05/2024 03:54 AM

Property Details for 8021 Mango Avenue

StatusActive
MLS #IV24168540
Days on Market100
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1985
CountySan Bernardino County

Building Information for 8021 Mango Avenue

Building/Complex8021 Mango AveFloor-Stories2Residences-Pet Policy-Year Built1985Building Size-

Property Information for 8021 Mango Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $1,214,400
  • Gross Scheduled Income: $1,214,400
  • Vacancy Allowance: 48576
  • Net Operating Income: $781,212
  • Laundry Income: $10,167
  • Gross Multiplier: 10.29
  • Cap Rate: 6.25
Expense Details
  • Operating Expense: $394,779
  • New Taxes Expense: $131,113
  • Fuel Expense: $0
  • Electric Expense: $36,089
  • Insurance Expense: $25,208
  • Professional Management Expense: $18,000
  • Trash Expense: $10,000
  • Water Sewer Expense: $36,089
  • Total Expenses: $394,779
Tax / Assessment Info
  • Tax Block: L
  • Tax Tract Number: 29
  • Tax Census Tract: 29.01
  • CFD/Mello-Roos Fee: $2,218
  • Tax Lot: 52O
Community / Development
Community / Development
  • Community Features: Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Fireplace Features: None
  • Fireplace Rooms: None
Exterior Features
  • Entry Location: 1
  • Pool Features: Community
  • Pool: Community/Common
Land/Lot Info
  • Lot Features: 26-30 Units/Acre
  • Number Of Units: 56
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 56
Unit Information
Unit 1
  • Unit Type Units Total: 16
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,000
  • Unit Type Total Rent: $15,788
  • Unit Type Pro Forma: 1700
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 40
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,350
  • Unit Type Total Rent: $53,280
  • Unit Type Pro Forma: 1850
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 7
  • Number Of Separate Electric Meters: 56
  • Number Of Separate Gas Meters: 56
  • Number Of Separate Water Meters: 1

Property History for 8021 Mango Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 8021 Mango Avenue

Taxable ValueLand$579,547Additions$3,992,441Total$4,571,988
Tax Record2024$48,293 ($4,024 / month)
Home Facts
Total Finished SqFt41,880 SqFtAbove Grade Finished SqFt41,880 SqFtLot Size105,850 SqFtStyleMulti-Family Res (5+ Units)Year Built1987CountySAN BERNARDINOAPN0190-241-10-0000

Schools near 8021 Mango Avenue

This home is within Fontana Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 10 to 12
Rating
School
Distance
North Tamarind Elementary School
PublicK to 6

Alder Middle School
Public6 to 8

Fontana A. B. Miller High School
Public9 to 12

Citrus High (Continuation) School
Public10 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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8021 Mango Avenue is a multi-family home for sale in Fontana, CA 92336. This property was listed for sale on August 10, 2024 by LE INVESTMENT GROUP, it's currently listed at $12,500,000. This listing's school district is Fontana Unified School District. Nearby schools include North Tamarind Elementary School, Alder Middle School and Fontana A. B. Miller High School. 8021 Mango Avenue is a 3-bed, 96-bath, 41,880 sqft multi-family home built in 1985.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of LE INVESTMENT GROUP, ALBERT LE, DRE #01468313

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.