10325 Lehigh Avenue

• Attractive Assumable Financing – 3.68% Interest Only Debt with a Fixed Rate until June 2029 (IO Expires in 2027) Allows New Investor to Immediately Capitalize on 7%+ Cash-On-Cash Returns
  • Excellent City of Montclair Location – Located just 1-Mile away from the 10 Freeway and Adjacent to Highly Amenitized Locations like the City of Ontario, Montclair, Pomona, and Chino Hills
  • Unit Mix Features Mostly Large 2-Bedroom/2-Bathroom and 3-Bedroom/ 2-Bathroom Units, Avg. 1,000 SF Each
  • Phenomenal Day-1 Income – Property Boasts a Strong 5.2% CAP Rate & 12.11 GRM on Existing Rents
  • Well-Maintained Asset with Nearly 30% Loss-to-Lease | 7.24% CAP Rate & 9.55 GRM at Market Rents
  • Higher Allowable Annual Rent Increases of 5% + CPI – City of Montclair has No Local Rent Restricting Ordinances
  • Property Features Secured Gated Access, Designated On-Site Parking, Well-Maintained Landscaping, Courtyard, and an On-Site Laundry Facility

Property Description

CBRE, Inc, as the Exclusive Advisor, is proud to present the Lehigh Apartments, a 13-Unit multifamily asset located at 10325 Lehigh Avenue in the city of Montclair. The property is located just 1-mile off the 10-fwy and adjacent to highly amenitized neighborhoods like city of Ontario, Claremont, Pomona, and Chino Hills. Some frequently travelled destinations within a 10- to 15-mile radius include The Shops at Chino Hills, Fox Amphitheater, Claremont Village, Ontario Mills Mall, Toyota Arena, and Victoria Gardens. More locally, tenants enjoy a short half-mile drive to Montclair High School and convenient access to retailers like Cardenas Markets, McDonalds, Jack in The Box, Dollar Tree, Family Dollar, In-N-Out, and much more. Lehigh Apartments is a 13-Unit multifamily asset with over ±12,700 SF of gross building area and sits on just over 16,000 SF of land. The property offers an excellent unit mix of one, 1-Bedroom/1-Bathroom, seven, 2-Bedroom/2-Bathroom, and five, 3-Bedroom/2-Bathroom apartments. The units average 830, 910, and 1,100 SF, respectively. Tenants enjoy property amenities like well-maintained landscaping, open courtyard, secure gated access, on-site parking, and an on-site laundry facility. Currently, the property is 100% occupied and generates ±$23,970 in monthly rental income or an average of $1,844 per unit. Recently, similar units have leased for an average of $2,354 per unit, which leaves an investor with almost 30% remaining upside to capture. Additional income streams from on-site parking and tenants’ use of the on-site laundry facility. Based on current income, the property boasts an attractive 5.24% CAP Rate and 12.11 GRM on existing income with room to grow. A new buyer will achieve significant cash-on-cash returns by assuming the current debt on the property. With a down payment of only ±$1,600,000, a new buyer will assume a fixed rate of 3.68% until 2029 with interest only payments until 2027. This investment is a great opportunity for a new, seasoned, or exchange investor.