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Multifamily

Elowyn Estates

13537 5th St, Yucaipa, CA 92399

Listing Price: $4,900,000

Cap Rate
5.56%
Number of Units
16
GRM
11.53
Occupancy
97.0%
Price/Unit
$306,250

Investment Overview

Marcus & Millichap is proud to exclusively present the opportunity to acquire Elowyn Estates, a premier retirement community situated at 13537 5th Street in Yucaipa, California. Completed in December 2024, this newly constructed 16-unit multifamily investment property is positioned on two adjacent parcels totaling 0.91 acres (39,720 square feet). The community is currently on the market for lease, it will offer an approximate capitalization rate of 5.56% upon full occupancy. The property consists of eight single-story duplexes, encompassing a total building area of 13,232 square feet. Elowyn Estates is designed as a senior 55+ community and offers a well-balanced unit mix, featuring eight one-bedroom/one-bathroom units and eight two-bedroom/two-bathroom units.
Each residence is equipped with a range of modern amenities, including central air conditioning, in-unit washer/dryer hookups, a private patio, and assigned open parking. Interior finishes are highlighted by quartz countertops, carpet and vinyl flooring, recessed lighting, and brand-new appliances. The property also boasts sustainable landscaping and fully owned solar panels installed on all pitched roofs, ensuring renewable energy at no additional cost. All units are individually metered for gas and electricity, and feature individual hot water heaters. Given the property’s status as a new development, there is a significant opportunity to adjust rental rates in line with current market trends, offering the potential for enhanced cash flow.
Elowyn Estates benefits from an ideal location, situated less than one mile east of the Interstate 10 Freeway, providing convenient access to the Inland Empire and the Palm Desert. Set in a quiet, suburban neighborhood, the property is surrounded by single-family homes and local parks, while also being a short drive from essential services such as Stater Bros. Market, Tropicana Supermarket, and Dollar General. Residents can enjoy nearby I Street Park, which features softball fields, tennis courts, basketball courts, cabanas, and playgrounds. Additionally, The Scherer Community Center, located just 2.5 miles from the property, offers a wide array of senior programs, including exercise classes, group activities, and nutritional services.
Nestled in the foothills of the San Bernardino Mountains, Yucaipa provides easy access to top regional destinations and is ranked among the top 12 cities in San Bernardino County for raising a family. Known for its business-friendly environment and development-ready infrastructure, Yucaipa combines small-town charm with ample opportunities for growth. The city is actively supporting retail and commercial expansion through initiatives such as the Wine Country Specific Plan and the Freeway Corridor Plan. Known for its business-friendly environment and ongoing development projects, Yucaipa is a rapidly growing community with strong potential for long-term growth and appreciation.

Investment Highlights

  • Newly Constructed in 2024 | No State-wide Rent Control
  • Approximately 5.56% Capitalization Rate Upon Full Occupancy
  • Eight Single-Story Duplexes
  • Solar Panels (Owned Free & Clear)
  • Central Air Conditioning | In-Unit Laundry Hookups | Private Patio
  • Individually Metered for Gas & Electricity | Individual Hot Water Heaters
  • Excellent Location - Less than A Mile from I-10
  • Average Household Income Over $109,000 Within a Five-Mile Radius

Exclusively Listed By

Financing By

Multifamily

Elowyn Estates

Listing Price: $4,900,000

Cap Rate
5.56%
Number of Units
16
GRM
11.53
Occupancy
97.0%
Price/Unit
$306,250

Investment Highlights

  • Newly Constructed in 2024 | No State-wide Rent Control
  • Approximately 5.56% Capitalization Rate Upon Full Occupancy
  • Eight Single-Story Duplexes
  • Solar Panels (Owned Free & Clear)
  • Central Air Conditioning | In-Unit Laundry Hookups | Private Patio
  • Individually Metered for Gas & Electricity | Individual Hot Water Heaters
  • Excellent Location - Less than A Mile from I-10
  • Average Household Income Over $109,000 Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is proud to exclusively present the opportunity to acquire Elowyn Estates, a premier retirement community situated at 13537 5th Street in Yucaipa, California. Completed in December 2024, this newly constructed 16-unit multifamily investment property is positioned on two adjacent parcels totaling 0.91 acres (39,720 square feet). The community is currently on the market for lease, it will offer an approximate capitalization rate of 5.56% upon full occupancy. The property consists of eight single-story duplexes, encompassing a total building area of 13,232 square feet. Elowyn Estates is designed as a senior 55+ community and offers a well-balanced unit mix, featuring eight one-bedroom/one-bathroom units and eight two-bedroom/two-bathroom units. Each residence is equipped with a range of modern amenities, including central air conditioning, in-unit washer/dryer hookups, a private patio, and assigned open parking. Interior finishes are highlighted by quartz countertops, carpet and vinyl flooring, recessed lighting, and brand-new appliances. The property also boasts sustainable landscaping and fully owned solar panels installed on all pitched roofs, ensuring renewable energy at no additional cost. All units are individually metered for gas and electricity, and feature individual hot water heaters. Given the property’s status as a new development, there is a significant opportunity to adjust rental rates in line with current market trends, offering the potential for enhanced cash flow. Elowyn Estates benefits from an ideal location, situated less than one mile east of the Interstate 10 Freeway, providing convenient access to the Inland Empire and the Palm Desert. Set in a quiet, suburban neighborhood, the property is surrounded by single-family homes and local parks, while also being a short drive from essential services such as Stater Bros. Market, Tropicana Supermarket, and Dollar General. Residents can enjoy nearby I Street Park, which features softball fields, tennis courts, basketball courts, cabanas, and playgrounds. Additionally, The Scherer Community Center, located just 2.5 miles from the property, offers a wide array of senior programs, including exercise classes, group activities, and nutritional services. Nestled in the foothills of the San Bernardino Mountains, Yucaipa provides easy access to top regional destinations and is ranked among the top 12 cities in San Bernardino County for raising a family. Known for its business-friendly environment and development-ready infrastructure, Yucaipa combines small-town charm with ample opportunities for growth. The city is actively supporting retail and commercial expansion through initiatives such as the Wine Country Specific Plan and the Freeway Corridor Plan. Known for its business-friendly environment and ongoing development projects, Yucaipa is a rapidly growing community with strong potential for long-term growth and appreciation.

Exclusively Listed By

Financing By

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