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West Fern Apartments 101 W Fern 7 Unit Apartment Building $1,919,390 CAD ($274,199 CAD/Unit) 6% Cap Rate Redlands, CA 92373
INVESTMENT HIGHLIGHTS
- A+ Redlands Location
- Low CPU - $196K/Unit
- Excellent Cash Flow - 6% Cap Rate
- Tons of Parking - Prime ADU Potential
EXECUTIVE SUMMARY
Positioned on prestigious Fern Avenue within the highly sought-after Smiley Heights Historic District, this seven-unit multifamily property represents a rare investment opportunity in one of Redlands’ premier locations. The asset benefits from close proximity to Downtown Redlands, the University of Redlands, and ESRI’s global headquarters, which drives consistent rental demand and long-term tenant stability.
Situated on an expansive 9,300+ square foot lot, the property features four private garages and additional open parking, providing ample on-site convenience for residents. The generous lot size also offers excellent potential for future Accessory Dwelling Unit (ADU) development, creating a clear path for increased income and long-term value appreciation.
Residents enjoy a prime South Redlands setting known for its mature tree-lined streets, historic architecture, and convenient access to everyday amenities. The neighborhood offers top-rated schools, scenic parks, shopping and dining destinations, fitness centers, and easy connectivity to I-10 and the San Bernardino International Airport, located just seven miles away.
This property presents investors with an exceptional opportunity to acquire a well-located, income-producing asset with significant value-add potential in one of the most desirable submarkets of Redlands.
Situated on an expansive 9,300+ square foot lot, the property features four private garages and additional open parking, providing ample on-site convenience for residents. The generous lot size also offers excellent potential for future Accessory Dwelling Unit (ADU) development, creating a clear path for increased income and long-term value appreciation.
Residents enjoy a prime South Redlands setting known for its mature tree-lined streets, historic architecture, and convenient access to everyday amenities. The neighborhood offers top-rated schools, scenic parks, shopping and dining destinations, fitness centers, and easy connectivity to I-10 and the San Bernardino International Airport, located just seven miles away.
This property presents investors with an exceptional opportunity to acquire a well-located, income-producing asset with significant value-add potential in one of the most desirable submarkets of Redlands.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$181,129
|
$20.13
|
| Other Income |
$4,272
|
$0.47
|
| Vacancy Loss |
$5,561
|
$0.62
|
| Effective Gross Income |
$179,839
|
$19.99
|
| Taxes |
$21,593
|
$2.40
|
| Operating Expenses |
$43,297
|
$4.81
|
| Total Expenses |
$64,891
|
$7.21
|
| Net Operating Income |
$114,948
|
$12.77
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $181,129 |
| Annual Per SF | $20.13 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,272 |
| Annual Per SF | $0.47 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $5,561 |
| Annual Per SF | $0.62 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $179,839 |
| Annual Per SF | $19.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $21,593 |
| Annual Per SF | $2.40 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $43,297 |
| Annual Per SF | $4.81 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $64,891 |
| Annual Per SF | $7.21 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $114,948 |
| Annual Per SF | $12.77 |
PROPERTY FACTS
| Price | $1,919,390 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $274,199 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 6% | Building Size | 4,517 SF |
| Gross Rent Multiplier | 10.35 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Parking Ratio | 1.77/1,000 SF |
| Zoning | R3, Redlands - multiple dwelling zone | ||
| Price | $1,919,390 CAD |
| Price Per Unit | $274,199 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 10.35 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 4,517 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1930 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | R3, Redlands - multiple dwelling zone |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | $1,766 CAD | - |
| 1+1 | 4 | $2,289 CAD | - |
| 2+1 | 1 | $2,408 CAD | - |
1 1
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 0173-033-05 | Total Assessment | $741,361 CAD |
| Land Assessment | $153,174 CAD | Annual Taxes | $21,593 CAD ($4.78 CAD/SF) |
| Improvements Assessment | $588,188 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
0173-033-05
Land Assessment
$153,174 CAD
Improvements Assessment
$588,188 CAD
Total Assessment
$741,361 CAD
Annual Taxes
$21,593 CAD ($4.78 CAD/SF)
Tax Year
2025
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West Fern Apartments | 101 W Fern
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