Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 26665 Ward Street, an 11-unit multifamily investment property in the city of Highland, California. The property is located in a quiet residential neighborhood with easy access to the Interstate 210 Freeway just a 5-minute drive east of the subject. Constructed in 1963, the property sits on a 0.35 acres (15,446 square feet) parcel with approximately 4,548 square feet building area. The property consists of eleven studio/one-bathroom floor plans. The building features an on-site laundry room with one washer and one dryer, a gated swimming pool, storage room, on-site office space, and secured front and back entrances. Parking is accessible by rear alley and consists of eight single-car garages and two carports for a total of ten parking spaces. The units are fully electric and are individually metered for electricity. There is one gas meter for the laundry room. Landlord pays for water and trash. The property is conveniently located within walking distance of Highland Community Park and Cypress Elementary School. The community park is home to the Highland San J. Racadio Library and Environmental Learning Center, the YMCA of East Valley, and the Central Little League. The park features four baseball fields, soccer fields, basketball courts, picnic areas, and playground, perfect for a weekend of family outing. The property is within a short drive from retail and grocery stores including Family Dollar, Smart & Final, Albertsons, Walgreens, and Staples. In addition, the subject property is just two-and-a-half miles from the San Bernardino International Airport, a leading economic contributor and a vital resource for local communities. Large distribution and fulfillment warehouse facilities for Amazon, Pep Boys, and Burlington have been developed near the San Bernardino International Airport that aims to be Inland Empire’s regional airport destination. The City of Highland is in an excellent position to capture its share of the regional industrial job growth by expanding industrial and business park uses along the 3rd and 5th Street corridors, taking advantage of convenient access to the State Route 210 and Interstate 10 corridors. The city of Highland is working closely with its stakeholder partners including the San Bernardino International Airport Authority, the City of San Bernardino, San Manuel Band of Mission Indians, and East Valley Water District to prepare a Specific Plan for the 3rd and 5th Street Corridor that will help guide industrial and business park development. The corridor is envisioned to be the major employment center for new high-wage technical and industrial jobs in the City of Highland and region.