1358 Jasper Ave Mentone, CA 92359
Well-maintained 21-unit portfolio near Redlands with development potential.
Property size:
18,570 SFProperty Features for 1358 Jasper Ave
General Information
- Standard status
- Active
- Size
- 18,570 SF
Source:
Cbre
Listing Agency: CB RICHARD ELLIS Listing Agent: Eric Chen
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Mentone Multifamily Investment Opportunity
The Mentone Portfolio is a 21-unit apartment asset comprised of two separate properties located on two contiguous parcels in Mentone. The portfolio consists of 1358 Jasper Avenue (11 Units) and 1354-1356 Jasper Avenue (10 Units). The properties are located just east of Redlands, north of Interstate 10, and east of the 210 Freeway, directly off State Route 38. The properties are within walking distance of Redlands Sports Park, supermarkets, retail shopping centers, and restaurants, and in close proximity to the University of Redlands and Downtown Redlands. The Mentone Portfolio offers access to the 10, 210, and 215 freeways and neighboring cities, and is less than six miles from the San Bernardino International Airport. The Mentone Portfolio is comprised of single-story buildings totaling 21 units. The portfolio has a total combined lot size of approximately 99,058 square feet and a total building size of approximately 18,570 square feet. The unit mix is comprised of 18 two-bed/one-bathroom units, 2 two-bed/two-bathroom units, and 1 three-bed/one-and-a-half-bath unit averaging approximately 883 square feet per unit. The units feature spacious floor plans, fenced in back yard patios, wall air conditioning and heating, and individual washer/dryer hookups in select units. The common areas feature on-site laundry facilities, assigned parking spaces, and ample off-street parking. There is vacant land at the rear of the property for possible future development. Built in 1925, 1981, and 1985, the properties have been well-maintained and feature unique characteristics. The Mentone Portfolio is an income-producing property and a long-term investment opportunity.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Mentone
- County
- San Bernardino
- State
- California
- Longitude
- -117.1357752
- Latitude
- 34.0732378
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 21-unit portfolio near Redlands with development potential.
Where is this apartment building located?
The property is located at 1358 Jasper Ave Mentone, CA.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: - Well-maintained 21-unit portfolio on two contiguous parcels in a desirable Mentone location adjacent to Redlands.; - Significant rental upside potential (29% blended) for immediate annual income appreciation.; - Excellent unit mix with predominantly two-bedroom units and one three-bedroom unit.
