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$590,000 Price Reduction 1721 N Fairfax Dr 16 Unit Apartment Building $3,324,312 CAD ($207,770 CAD/Unit) 7.98% Cap Rate San Bernardino, CA 92404
Investment Highlights
- Recent $590,000 Price Reduction.
- Current GRM of 8.20 WIth a ProForma GRM of 7.35
- 16 spacious two-bedroom, one-bathroom units, each averaging 884 square feet.
- Current Offering Actual CAP Rate of 5.31% / ProForma CAP Rate of 7.98%. ProForma CAP Rate is based on Leveling off Current Rents
- Units have been modernized with new flooring, fresh paint, fixtures, fixtures, kitchens & bathrooms, reducing near-term maintenance
- Ample parking, individually metered utilities.
Executive Summary
The Fairfax Apartments at 1721 N. Fairfax Drive present an opportunity to acquire a 16-unit multifamily community in San Bernardino. Situated on approximately 0.65 acres, the property consists of four two-story residential buildings and offers a unit mix designed to serve the area's ongoing rental housing demand. Recent unit renovations have enhanced resident appeal while helping reduce future maintenance requirements. The asset benefits from proximity to schools, healthcare facilities, retail amenities, employment centers, and major transportation corridors that connect residents throughout the Inland Empire. With strong occupancy, tenant-paid gas and electricity, covered parking, and an established residential location, the property offers investors the potential for stable cash flow and long-term value appreciation within one of Southern California's largest rental markets.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,324,312 CAD | Building Class | C |
| Price Per Unit | $207,770 CAD | Lot Size | 0.65 AC |
| Sale Type | Investment | Building Size | 14,136 SF |
| Cap Rate | 7.98% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.2 | No. Stories | 2 |
| No. Units | 16 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.13/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | RM, San Bernardino - Multi-Family Property | ||
| Price | $3,324,312 CAD |
| Price Per Unit | $207,770 CAD |
| Sale Type | Investment |
| Cap Rate | 7.98% |
| Gross Rent Multiplier | 8.2 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 14,136 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.13/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM, San Bernardino - Multi-Family Property |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Oven
- Range
Site Amenities
- Laundry Facilities
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | $2,234 CAD | 884 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 0147-233-07 | Total Assessment | $3,247,275 CAD |
| Land Assessment | $723,404 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,523,872 CAD | Tax Year | 2026 |
Property Taxes
Parcel Number
0147-233-07
Land Assessment
$723,404 CAD
Improvements Assessment
$2,523,872 CAD
Total Assessment
$3,247,275 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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$590,000 Price Reduction | 1721 N Fairfax Dr
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