Multifamily

Casa Del Sol

7443 Elm St, Highland, CA 92410

Listing Price: $2,422,000

Cap Rate
5.33%
Number of Units
20
GRM
10.21
Occupancy
95.0%
Price/Unit
$121,100
Price/Gross SF
$149.51
Gross SF
16,200

Investment Overview

Marcus & Millichap proudly brings to market Casa Del Sol, a twenty unit opportunity consisting entirely of spacious two bedroom units, centrally located in sunny Highland, CA. This two level, single building offering sits on a 0.67 acre lot, just south of Baseline Road. Casa Del Sol offers covered parking spaces for the tenants as well as ample street parking, with easy access to the San Bernardino International Airport and Cal State University, San Bernardino.

The San Bernardino area is one of the fastest growing in California, and is home to approximately 217,000 people. The area offers an abundance of shopping, dining, and entertainment opportunities. San Bernardino is the cornerstone of the largest region in the nation and houses four top colleges and universities. Easily accessible via major freeways such as Interstates 215, 210, and 10, San Bernardino is within a short driving distance to other major cities, beaches, deserts, national forests, and mountain resorts.

A recent Marcus & Millichap national research report states, Since 2016, nearly 50 percent of new job positions have been in tertiary markets. The current labor deficit has motivated some companies to move to where the prospective hires reside instead of trying to recruit prospects to major cities. This booming job creation in the Inland Empire is serving to keep current residents, and is attracting new ones, with the metro expected to continue to grow.

This is the first time the property is on market since 1995. Having been under the same ownership for 25 years, there is significant upside in rents.

Investment Highlights

  • Consists of all spacious two bedroom units.
  • 15 minutes away from Cal State San Bernardino.
  • Easy access to the 10, 210 and 215 Freeways.
  • First time on market since 1995.

Exclusively Listed By

  • Reza Ghaffari

    Senior Managing Director Investments

    (909) 456-3454

    Email Reza

    License(s): CA: 00859134

    Ontario

  • Kevin Valle

    Associate

    Email Kevin

    License(s): CA: 02080202

    Ontario

Listing Price: $2,422,000

Cap Rate
5.33%
Number of Units
20
GRM
10.21
Occupancy
95.0%
Price/Unit
$121,100
Price/Gross SF
$149.51
Gross SF
16,200

Investment Highlights

  • Consists of all spacious two bedroom units.
  • 15 minutes away from Cal State San Bernardino.
  • Easy access to the 10, 210 and 215 Freeways.
  • First time on market since 1995.

Investment Overview

Marcus & Millichap proudly brings to market Casa Del Sol, a twenty unit opportunity consisting entirely of spacious two bedroom units, centrally located in sunny Highland, CA. This two level, single building offering sits on a 0.67 acre lot, just south of Baseline Road. Casa Del Sol offers covered parking spaces for the tenants as well as ample street parking, with easy access to the San Bernardino International Airport and Cal State University, San Bernardino.

The San Bernardino area is one of the fastest growing in California, and is home to approximately 217,000 people. The area offers an abundance of shopping, dining, and entertainment opportunities. San Bernardino is the cornerstone of the largest region in the nation and houses four top colleges and universities. Easily accessible via major freeways such as Interstates 215, 210, and 10, San Bernardino is within a short driving distance to other major cities, beaches, deserts, national forests, and mountain resorts.

A recent Marcus & Millichap national research report states, Since 2016, nearly 50 percent of new job positions have been in tertiary markets. The current labor deficit has motivated some companies to move to where the prospective hires reside instead of trying to recruit prospects to major cities. This booming job creation in the Inland Empire is serving to keep current residents, and is attracting new ones, with the metro expected to continue to grow.

This is the first time the property is on market since 1995. Having been under the same ownership for 25 years, there is significant upside in rents.

Exclusively Listed By

  • Reza Ghaffari

    Senior Managing Director Investments

    (909) 456-3454

    Email Reza

    License(s): CA: 00859134

    Ontario

  • Kevin Valle

    Associate

    Email Kevin

    License(s): CA: 02080202

    Ontario

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