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Multifamily

Rancho Vista Apartments

Ontario, CA

125 Units

Built in 1984

Value Add

Investment Highlights

  • The property presents a compelling value-add opportunity. The majority of units have received modest upgrades during turns, but only two units have been renovated to the premium scope.
  • Significant investment into community amenity upgrades have been completed. Solar panel installation has been completed and a majority of the residents' electricity usage will be provided.
  • The owner has installed a solar panel electric system at the property, which generates value in three distinct ways: offsetting residents' electric bills, reducing common area electric charges.
  • Potential for additional revenue by installing enclosed private yards in 88% of the units having a generous greenbelt.
  • On December 1, 2022, the "low income" requirement expired, effectively freeing 20% of the units to market rental rates. The current "moderate income" requirement remains in effect until February 2059. These requirements restrict the allowable income of 20% of the residents to 110% of AMI, but no longer restrict rental rates on those units.
  • Part of a three-property portfolio in Ontario¬†including Encore Apartments and Avante Apartments, totaling 445 units. Can be offered on an individual or portfolio basis.¬†
  • Existing financing assumable solely at lender's discretion*.

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