1479 N Lugo Ave - Apartments FOR SALE


San Bernardino, CA 92404- Downtown San Bernardino
$1,179,500 USD
909-827-0687
1479 N Lugo Ave, San Bernardino, CA for Sale
$1,179,500 USD
Apartments - FOR SALE
1/11
null | 6% Cap Rate

1479 N Lugo Ave
San Bernardino, CA 92404
Downtown San Bernardino


HIGHLIGHTS

  • PREMIUM 6.00% RETURN: Lugo offers investors attractive in-place income and growth potential through rent increases.
  • DESIRABLE UNIT MIX: Comprised of six two-bedroom, one-bathroom units averaging 750 square feet.
  • STRONG RENTER DEMOGRAPHICS: San Bernardino’s housing stock is approximately 57% renter-occupied and 43% owner-occupied.
  • CENTRAL SAN BERNARDINO LOCATION: Located near Downtown San Bernardino, Inland Center Mall, San Manuel Stadium, and Glen Helen Regional Park.

OVERVIEW

Marcus & Millichap is pleased to present 1479 N Lugo Avenue, a six-unit apartment property located in the heart of San Bernardino, California. Positioned near the I-215 and I-210 Freeways, the property offers excellent connectivity to Downtown San Bernardino, regional job centers, and local amenities that continue to drive renter demand and long-term investment stability. The property sits on a 7,750-square-foot lot and features approximately 4,500 square feet of rentable living area. Each of the six units is a two-bedroom, one-bathroom layout averaging 750 square feet, providing residents with spacious interiors and functional designs that appeal to working professionals and small families seeking affordability and comfort. Priced at $196,583 per unit, 1479 N Lugo Avenue is positioned below the average price per unit of $219,450 for comparable properties currently on the market. This favorable pricing provides investors with an attractive entry point and measurable upside potential. The property currently generates $9,900 in monthly gross rent and offers additional upside through achievable rent increases and continued management optimization. Residents enjoy close proximity to Downtown San Bernardino, the Inland Center Mall, San Manuel Stadium, and Glen Helen Regional Park, along with convenient access to the Santa Ana River Trail, offering outdoor recreation just minutes from home. This blend of urban accessibility and nearby green space enhances both livability and long-term tenant demand. With more than half of San Bernardino’s households renter-occupied, strong rental demand and below-average homeownership rates continue to support multifamily stability across the region. 1479 N Lugo Avenue represents a well-maintained, income-producing investment that combines attractive in-place performance, measurable upside, and a location that continues to benefit from the city’s ongoing growth and revitalization.

FOR SALE DETAILS

PRICE

$1,179,500 USD

PRICE/SF

$262 USD /SF

# OF UNITS

6

PRICE/UNIT

$196,583

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,750 SF

ZONING

R3, San Bernardino

APN/PARCEL ID

0146-172-11

ASK ABOUT THIS PROPERTY

Sebastian DiazMarcus & MillichapMore Info
909-827-0687

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Sebastian DiazMarcus & MillichapMore Info
909-827-0687

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.