23090 Sunnymead Blvd - Apartments FOR SALE


Moreno Valley, CA 92553- Moreno Valley West
$10,850,000 USD
310-704-9109
23090 Sunnymead Blvd, Moreno Valley, CA for Sale
$10,850,000 USD
Apartments - FOR SALE
1/17
null | 6.75% Cap Rate

23090 Sunnymead Blvd
Moreno Valley, CA 92553
Moreno Valley West


HIGHLIGHTS

  • 10-Year Ownership - Potential Tax Credits!
  • Proper Zoning for Conversion to Permanent Housing/Assisted Living or Convalescent Care!
  • Well Maintained and Well Located Building Built in 2009 with Freeway Signage for New Business!
  • Walking Distance to Significant Retail and Services
  • Seller is Familiar with the Conversion Process
  • 6.75 Potential Cap Rate on Market Rents!

OVERVIEW

POTENTIAL TAX CREDITS - OWNED FOR MORE THAN 10 YEARS BY SELLER Currently an operating La Quinta Inn, the property is a Potential Conversion of the Existing Hotel to Permanent Living/Assisted Living/Convalescent Care as per the Current Zoning. Built in 2009 and situated on approximately 1.36 acres of land, the Property comprises 62 rooms and is three stories in height, with approximately 29,669 square feet of floor space, with a concrete parking surface. ALL PROPERTY SHOWINGS ARE TO BE BY APPOINTMENT ONLY AND COORDINATED WITH THE LISTING AGENT.. THE MANAGEMENT IS NOT AWARE OF THE SALE AND IS NOT TO BE DISTURBED NOR ASKED FOR A TOUR OF THE PROPERTY INTERIOR

FOR SALE DETAILS

PRICE

$10,850,000 USD

PRICE/SF

$366 USD /SF

# OF UNITS

62

PRICE/UNIT

$175,000

CAP RATE

6.75%

% LEASED

-

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pot'l Permanent/Assisted Living/Convalescent

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2028

PARKING SPACES

68

LAND DETAILS

LAND ACRES

1.36 AC

LAND SF

59,242 SF

ZONING

Specific Plan 204 CC

APN/PARCEL ID

292-250-024

ASK ABOUT THIS PROPERTY

Luis VazquezSPERRYMore Info
310-704-9109

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Luis VazquezSPERRYMore Info
310-704-9109

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