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Closed
- Listed price
- $7,200,000
- Listed Apr 30, 2018
- Sold price
- $6,540,000
- Sold Nov 21, 2018
144,183 sqft lot|1949 Built|124 MLS days on market
1398 N Sierra Way, San Bernardino, CA 92405
Property Description
Highlights; Competitive Offering Actual CAP Rate of 5.84 %, with a ProForma CAP Rate of 6.57 %, Offering Actual GRM of 10.49, with a ProForma GRM of 9.68 / Rental Comparables Illustrate a 98 % Occupancy Area. Rental Survey Completed 03/05/2018., $1,000,000 In Recent Property Improvements and Renovations Under Current Ownership. 60% of the Units Have Been Completely Renovated., Conservative 10% Upside in Potential Rental Income. Achieved through continued implementation of Government approved and funded programs., Currently only 30% of the Tenants are in Government funded program, allowing for future growth., 4 Units Have Fire Damage and Are Currently Under Complete Rehabilitation. Units to be Delivered per Seller in 100% Rent Ready Condition. The Mountain view manor apartments are located on a sprawling 3.31 acre lot. The property is composed of 10+ buildings, outbuildings, and cover parking structures for all units. This 68 unit apartment community possesses an attractive unit mix of 35 one bedroom / one bathroom units, 1 one bedroom / one and a half bathroom unit and 32 two bedroom / one bathroom units. Over 60% of the units have been completely renovated. Recent property improvements by current ownership exceed $1,000,000 and have been outlined below. Capital Improvements & Renovations: New Interior Paint New Flooring in units New Kitchen Cabinets & Countertops New Appliances New Bathroom Cabinets Updated Exteriors Exterior Paint and Fascia Improvements
Listing agent: ALBERT LEDRE #01468313albert.le@leinvestmentgroup.com, Listing office: LE INVESTMENT GROUP
MLS data updated 11/4/2026, 8:02:10 AM PT
Source: CRMLSMLS #: IV18107132
Belmont insights
Price & property history
Compare recorded home prices, same-type ZIP sales and mortgage rates.
Last recorded sale$6,540,000
Nov 21, 2018
Available records22018
From MLS recordsActual listing and closing events
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This home · nearest recorded event
No recordNo property-price record in this range.ZIP 92405 · Nov 2026
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ZIP 92405 · same property typeThis MLS property type has no exact comparison group.
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Recorded sales in this period (0)
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ZIP averages use publicly displayable closed sales from our licensed MLS feed, matched to the same ZIP and exact property type. Months with fewer than 3 sales are omitted; the current month is incomplete. Lines connect available monthly observations across gaps and do not represent measured prices in missing months. These averages are not adjusted for size, condition, or location within the ZIP, and are not an appraisal. Feed coverage may not include every sale. All available shows the available home and ZIP history, with mortgage rates over the same dates.
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Lines connect recorded asking and sale prices. They are visual guides, not estimates of the home’s value between those dates.
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