Seller's Agent in 2023
Rick Applebaum
Morgan Skenderian
(949) 251-8800
71 Total Sales
9281 Pepper Ave Fontana, CA 92335
2
Beds
1
Bath
5,888
Sq Ft
15,751
Sq Ft Lot
About This Home
As of October 2023Pleased to exclusively present the Pepper Tree Apartments, an 8-unit, multi family investment property located in the City of Fontana, California. This offering presents qualified investors the opportunity to acquire a well maintained asset in one of the most desirable rental markets in the Inland Empire. The subject property is comprised exclusively of two bedroom units averaging736 square feet of living space. Units are individually metered for electricity with a central water heater and presents tenants with an on-site laundry room. Carport parking is available for all tenants along with extra open spaces that could translate to an additional income stream. Located off Randall Ave, the offering benefits from its convenient access to retail, entertainment, schools, medical offices, parks & freeways--all within reach. Furthermore, proximity to Interstates 10, 15, and 210 freeways grants tenants access to surrounding employment hubs throughout the Inland Empire as well as Los Angeles & Orange County regions. With significant upside potential and growing demand for this submarket, the offering presents the astute investor the opportunity to acquire a cash flowing asset with additional upside through proactive management to capture projected 44% upside in rents.
Last Agent to Sell the Property
Morgan Skenderian License #01273871 Listed on: 07/06/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1978
Lot Details
- 15,750 Sq Ft Lot
- Two or More Common Walls
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 5,888 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Bathroom
Laundry
- Laundry Room
- Leased Washer and Dryer
Parking
- 4 Open Parking Spaces
- 12 Parking Spaces
- 8 Carport Spaces
Outdoor Features
- Rain Gutters
Listing and Financial Details
- Legal Lot and Block 12 / 10
- Assessor Parcel Number 0193121450000
- $2,742 per year additional tax assessments
Community Details
Building Details
- 9 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $4,713
- Fuel Expense $4,713
- Gardener Expense $1,800
- Insurance Expense $2,944
- Maintenance Expense $7,501
- Other Expense $750
- Trash Expense $4,713
- Water Sewer Expense $4,713
- New Taxes Expense $19,447
- Operating Expense $54,036
- Gross Income $2,484
- Net Operating Income $70,978
Additional Features
- 8 Units
- Laundry Facilities
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/13/2023 10/13/23 | Sold | $1,920,000 | +5.2% | $326 / Sq Ft |
| 07/19/2023 07/19/23 | Pending | -- | -- | -- |
| 07/06/2023 07/06/23 | For Sale | $1,825,000 | -- | $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 | $24,841 | $1,958,400 | $408,000 | $1,550,400 |
| 2024 | $23,062 | $1,920,000 | $400,000 | $1,520,000 |
| 2023 | $6,918 | $413,652 | $81,253 | $332,399 |
| 2022 | $6,798 | $405,541 | $79,660 | $325,881 |
| 2021 | $6,700 | $397,589 | $78,098 | $319,491 |
| 2020 | $6,731 | $393,512 | $77,297 | $316,215 |
| 2019 | $6,478 | $385,796 | $75,781 | $310,015 |
| 2018 | $6,407 | $378,231 | $74,295 | $303,936 |
| 2017 | $6,207 | $370,814 | $72,838 | $297,976 |
| 2016 | $5,969 | $363,543 | $71,410 | $292,133 |
| 2015 | $5,807 | $358,082 | $70,337 | $287,745 |
| 2014 | $5,735 | $351,067 | $68,959 | $282,108 |
Source: Public Records
Agents Affiliated with this Home
-
Rick Applebaum
-
Paul Espinosa
Seller Co-Listing Agent in 2023
Paul Espinosa
Morgan Skenderian
(714) 206-2688
40 Total Sales
-
Eric Chen
Buyer's Agent in 2023
Eric Chen
CB RICHARD ELLIS
(909) 418-2030
65 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW23120918
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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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