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Solana Apartments 8155 Banana Ave 24 Unit Apartment Building $12,278,160 CAD ($511,590 CAD/Unit) 5.80% Cap Rate Fontana, CA 92335
Investment Highlights
- New construction
- Large open units with washer and dryer hook ups
- Close to Victoria Gardens
Executive Summary
Completed in 2025, 8155 Banana Ave. is a newly constructed 24 unit multi-family asset offering modern unit design in a growing Inland Empire submarket. The property sits on a 38,160 square foot lot and totals approximately 33,500 rentable square feet, delivering a clean, efficient layout with no deferred maintenance and near term capital needs.
The unit mix is thoughtfully balanced to capture a broad tenant demand, featuring spacious one, two and three bedroom residences with contemporary finishes and floor plans for today's renters. The property will begin its lease up this month.
8155 Banana Ave represents a rare opportunity to acquire a turnkey asset with modern construction, strong fundamentals and long term value preservation in Fontana's continued growth corridor.
The unit mix is thoughtfully balanced to capture a broad tenant demand, featuring spacious one, two and three bedroom residences with contemporary finishes and floor plans for today's renters. The property will begin its lease up this month.
8155 Banana Ave represents a rare opportunity to acquire a turnkey asset with modern construction, strong fundamentals and long term value preservation in Fontana's continued growth corridor.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,060,833
|
$31.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$31,825
|
$0.95
|
| Effective Gross Income |
$1,029,008
|
$30.72
|
| Taxes |
$129,621
|
$3.87
|
| Operating Expenses |
$187,560
|
$5.60
|
| Total Expenses |
$317,180
|
$9.47
|
| Net Operating Income |
$711,828
|
$21.25
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,060,833 |
| Annual Per SF | $31.67 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $31,825 |
| Annual Per SF | $0.95 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,029,008 |
| Annual Per SF | $30.72 |
| Taxes (CAD) | |
|---|---|
| Annual | $129,621 |
| Annual Per SF | $3.87 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $187,560 |
| Annual Per SF | $5.60 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $317,180 |
| Annual Per SF | $9.47 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $711,828 |
| Annual Per SF | $21.25 |
Property Facts
| Price | $12,278,160 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $511,590 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.87 AC |
| Cap Rate | 5.80% | Building Size | 33,500 SF |
| Gross Rent Multiplier | 11.57 | No. Stories | 3 |
| No. Units | 24 | Year Built | 2025 |
| Property Type | Multifamily | Parking Ratio | 1.1/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-1 - restricted Density Multiple Dwelling | ||
| Price | $12,278,160 CAD |
| Price Per Unit | $511,590 CAD |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| Gross Rent Multiplier | 11.57 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.87 AC |
| Building Size | 33,500 SF |
| No. Stories | 3 |
| Year Built | 2025 |
| Parking Ratio | 1.1/1,000 SF |
| Zoning | R-1 - restricted Density Multiple Dwelling |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 12 | $4,093 CAD | 1,333 |
| 2+2 | 6 | $3,683 CAD | 1,090 |
| 1+1 | 6 | $3,097 CAD | 944 |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 0230-041-60 | Total Assessment | $186,500 CAD (2025) |
| Land Assessment | $186,500 CAD (2025) | Annual Taxes | $129,621 CAD ($3.87 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
0230-041-60
Land Assessment
$186,500 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$186,500 CAD (2025)
Annual Taxes
$129,621 CAD ($3.87 CAD/SF)
Tax Year
2026
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Solana Apartments | 8155 Banana Ave
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