16858 Reed St, Fontana, CA 92336

Property Description

We are pleased to exclusively present the Casa Linda Apartments. The subject property is situated in the city of Fontana, California. Built in 1990, this two-story building consists of 11 spacious townhouse units offering 100 percent three-bedroom/two-bath units with an average of 1,140 square feet. The building has pitched roofs, 11 single-car garages with assigned and visitor parking. The complex is enclosed by a security gate and includes an on-site laundry facility. All units are individually metered for gas and electricity with separate water heaters. An estimated $30,000 in renovations were completed in 2013 and 2014 including new paint, carpet and hardwood flooring, tile, central air, heat, kitchen appliances and bathrooms. Each unit offers a fire sprinkler system, enclosed back patio, dishwasher, stove, a walk in closet and vaulted ceilings. Six of the 11 units are currently paying below market rents at $1,180-1,300. The property's newer construction and recent upgrades provide a new owner the opportunity to increase rents and add value. This offering is an ideal investment for an investor pursuing a newer construction, low maintenance property in the West Inland Empire with a stable cash flow.