Seller's Agent in 2025
Albert Le
LE INVESTMENT GROUP
(909) 256-7889
24 Total Sales
8021 Mango Ave Fontana, CA 92336
3
Beds
3
Baths
41,880
Sq Ft
2.43
Acres
About This Home
As of January 2025True 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.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1985
Lot Details
- 2.43 Acre Lot
- Two or More Common Walls
- Density is 26-30 Units/Acre
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 41,880 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 3 Bedrooms
- 3 Bathrooms
Parking
- 56 Parking Spaces
- 56 Carport Spaces
Location
- Suburban Location
Listing and Financial Details
- Legal Lot and Block 52O / L
- Tax Tract Number 29
- Assessor Parcel Number 0190241100000
- $2,218 per year additional tax assessments
Community Details
Overview
- 7 Buildings
- 56 Units
Amenities
- Laundry Facilities
Recreation
- Community Pool
Building Details
- Rent Control
- 56 Separate Electric Meters
- 56 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $36,089
- Insurance Expense $25,208
- Professional Management Expense $18,000
- Trash Expense $10,000
- Water Sewer Expense $36,089
- New Taxes Expense $131,113
- Operating Expense $394,779
- Gross Income $1,214,400
- Net Operating Income $781,212
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/27/2025 01/27/25 | Sold | $10,850,000 | -13.2% | $259 / Sq Ft |
| 11/05/2024 11/05/24 | Price Changed | $12,500,000 | -3.8% | $298 / Sq Ft |
| 08/14/2024 08/14/24 | For Sale | $12,999,999 | -- | $310 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $80,127 | $4,663,428 | $591,138 | $4,072,290 |
| 2024 | $48,293 | $4,571,988 | $579,547 | $3,992,441 |
| 2023 | $47,042 | $4,482,341 | $568,183 | $3,914,158 |
| 2022 | $46,854 | $4,394,452 | $557,042 | $3,837,410 |
| 2021 | $46,263 | $4,308,287 | $546,120 | $3,762,167 |
| 2020 | $46,151 | $4,264,111 | $540,520 | $3,723,591 |
| 2019 | $44,741 | $4,180,501 | $529,922 | $3,650,579 |
| 2018 | $45,430 | $4,098,530 | $519,531 | $3,578,999 |
| 2017 | $45,174 | $4,018,167 | $509,344 | $3,508,823 |
| 2016 | $44,415 | $3,939,380 | $499,357 | $3,440,023 |
| 2015 | $43,846 | $3,804,199 | $482,221 | $3,321,978 |
| 2014 | $43,881 | $3,804,199 | $482,221 | $3,321,978 |
Source: Public Records
Agents Affiliated with this Home
-
Albert Le
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IV24168540
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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