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Le Investment Group Closes All-Cash Sale of Fontana Apartments
Le Investment Group closed the sale of The Mango Tree Apartments, a 56-unit multifamily property located at 8021 Mango Ave., Fontana. The property was sold for $10,850,000, equating to $193,750 per unit.
The all-cash sale closed within 14 days at a 4.50% cap rate, with a GRM of 13.09 and a Pro Forma CAP rate of 6.86%. The property was a value-add play, with low existing rents and renovations required, presenting significant potential for increased revenue and asset appreciation. Le Investment Group represented both the seller and the buyer.
“We are proud to have successfully facilitated this transaction with such efficiency,” said Albert Le, managing partner at Le Investment Group. “This sale helps demonstrate the momentum of the current commercial real estate landscape. Investors are eager to re-enter the market after a period of hesitation, and this transaction highlights the demand for well-located, income-generating properties.”
- ◦Sale/Acquisition
