Green Village Townhomes

Green Village Townhomes 2443 Windsor Drive
San Bernardino, CA 92404

  • $16,625,000

    Asking Price

  • 70

    Units

  • 100%

    Occupancy

  • 6.14%

    Mark-to-Market Cap Rate

  • Multifamily

    Property Type

  • 5.45

    Acres

Offering Summary

Address

  • 2443 Windsor Drive
    San Bernardino, CA 92404

Pricing

  • Asking Price$16,625,000
  • In-Place Cap Rate3.75%
  • Rents Below Market35.00%
  • Mark-to Market Cap Rate6.14%

Details

  • Property TypeMultifamily
  • Listing StatusOn Market
  • Square Feet70,342
  • Units70
  • Occupancy100%
  • Year Built1964
  • Acres5.45
  • ZoningRH
  • APN0150-341-43-0000

Address

  • 2443 Windsor Drive
    CA 92404

Pricing

  • Asking Price$16,625,000
  • In-Place Cap Rate3.75%
  • Rents Below Market35.00%
  • Mark-to Market Cap Rate6.14%

Details

  • Property TypeMultifamily
  • Listing StatusOn Market
  • Square Feet70,342
  • Units70
  • Occupancy100%
  • Year Built1964
  • Acres5.45
  • ZoningRH
  • APN0150-341-43-0000

Description

Newmark is pleased to present the opportunity to acquire a value-add multifamily project, Green Village Townhomes. Green Village Townhomes is a 100% leased, 70-unit project across 9 buildings in Northeast San Bernardino.

In 2020, 250,000 people moved to the Inland Empire, effectively tying Phoenix for the biggest gain in households from migration in the United States. This migration continues the trend over the past 30 years as the population of the Inland Empire has grown to 4.6 million people. The Inland Empire’s population boom has increased the demand for housing in San Bernardino, showcased by a sharp decrease in vacancy in 2020. As of March 2022, the vacancy rate in San Bernardino is 2.1%, and AxioMetrics projects that San Bernardino will have over 16% rent growth in Q1 2022.

Green Village Townhomes offers investors the opportunity to acquire a value-add multifamily project with nearly immediate access to 13 units and the potential to execute on a business plan to turn units and increase rents.

Deal Team

Sean Fulp

Sean Fulp

Vice Chairman

310-407-6596 sean.fulp@nmrk.com

CA RE Lic. #01389064

Chris Benton

Chris Benton

Senior Managing Director

310-407-6564 chris.benton@nmrk.com

CA RE Lic. #01808847

Anthony Muhlstein

Anthony Muhlstein

Managing Director

310-407-6560 anthony.muhlstein@nmrk.com

CA RE Lic. #1701409

Jordan Garcia

Jordan Garcia

Financial Analyst

310-201-2072 jordan.garcia@nmrk.com

CA RE Lic. #02090086