25-Unit Apartment
New
For Sale
$11,995,000
15909 Merrill Ave, Fontana, CA 92335
Six buildings contain condominium residences, including units with accessory dwelling units.
Property Size33,471 SF
Price / SF$358.37
Days on Market4
Property Features for 15909 Merrill Ave
General Information
Standard status
Active
Size
33,471 SF
Property subtype
Apartment
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
25
Building Details
Building Size
33,471 SF
Year Built
2025
Buildings
6
Listing Agency:
EMAAR ENTERPRISE
Listed By:
SHAREEF AWAD · License #01849030
Source:
Velocityrealtysd
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 11 at 1:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EMAAR ENTERPRISE
Investment Insights
Based on property information with market context.
Completed in 2025, this 25-unit residential community spans 6 buildings and 20 individually subdivided parcels. The configuration includes 15 individual condominiums and 5 condominiums with ADUs. Living area totals 33,471 square feet, with 9,160 square feet of garage space, 909 square feet of covered porches, 285 square feet of covered patios, and 1,666 square feet of balconies. Twenty units have private two-car garages.
The property has remained fully occupied since completion. Site and building features include stamped concrete walkways and parking areas, concrete backyard patios, block-wall divisions, hard-surface flooring, upgraded cabinetry and countertops, updated plumbing and lighting fixtures, and glass shower enclosures. The Fontana property is near schools, shopping, restaurants, and major freeways.
The property has remained fully occupied since completion. Site and building features include stamped concrete walkways and parking areas, concrete backyard patios, block-wall divisions, hard-surface flooring, upgraded cabinetry and countertops, updated plumbing and lighting fixtures, and glass shower enclosures. The Fontana property is near schools, shopping, restaurants, and major freeways.
Key Highlights
- 25 residential units across 6 buildings and 20 individually subdivided parcels
- 15 individual condominiums and 5 condominiums with ADUs
- 33,471 square feet of living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$453,006
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,060,120
$9.1M
Cap Rate 7%
$6,471,514
$6.5M
Cap Rate 9%
$5,033,400
$5.0M
Market Conditions
NOI Build-Up for 33,471 SF
Gross rent
$871.6K $26.04/SF
− Vacancy
−$47.9K −$1.43/SF
EGI
$823.6K $24.61/SF
− OpEx
−$370.6K −$11.07/SF
NOI
$453.0K $13.53/SF
Area
Fontana, CA
Vacancy
5.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,060,120
Cap Rate 7%
$6,471,514
Cap Rate 9%
$5,033,400
Alternative Uses
Best Use
Apartment 5plus
$6.47M
$5.66M – $7.55M
NOI $453,006 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.74M
$8.52M – $11.36M
NOI $681,764 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
25
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 92335, CA
96,605
Population
25,861
Households
3.7
Avg Household Size
31
Median Age
10%
College-Educated
67%
High-School Grad
17.5 sq mi
ZIP Area
5,520
Density / Sq Mi
$75,198
Median Household Income
$35,912
Median Earnings
$1,636
Median Rent
$433,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six buildings contain condominium residences, including units with accessory dwelling units.
Where is this apartment building located?
The property is located at 15909 Merrill Ave Fontana, CA.
What is the asking price?
The asking price for this property is $11,995,000.
What are key features of this property?
This property features: 25 residential units across 6 buildings and 20 individually subdivided parcels; 15 individual condominiums and 5 condominiums with ADUs; 33,471 square feet of living area
