24356 Webster Ave - Apartments FOR SALE


Moreno Valley, CA 92553- Edgemont Gardens
$3,295,000 USD
909-827-0687
24356 Webster Ave, Moreno Valley, CA for Sale
$3,295,000 USD
Apartments - FOR SALE
1/7
null | 6% Cap Rate

24356 Webster Ave
Moreno Valley, CA 92553
Edgemont Gardens


HIGHLIGHTS

  • 6% CAP RATE & 10.98 GIM: Attractive in place returns with additional income generated from on site, owner operated laundry.
  • Comprised of (4) 1 Bed 1 Bath and (10) 2 Bed 1 Bath units, catering to workforce renters and small families.
  • Garden style community is situated on a ±39,640 square foot lot with ±12,696 square feet of rentable space and 24 on site parking spaces.

OVERVIEW

Marcus & Millichap is pleased to present Casa Lynnda, a 14 unit multifamily investment opportunity located at 24356 Webster Avenue in the Sunnymead neighborhood of Moreno Valley. The property is ideally situated just south of Sunnymead Boulevard with convenient access to the 60 Freeway via the Heacock Street exit, offering a balance of a quiet residential setting and close proximity to major retail, employment centers, and transportation corridors. Constructed in 1980, Casa Lynnda is a gated, courtyard style apartment community positioned on an expansive approximately ±39,640 square foot lot. The property is zoned R2 and features a well designed layout that includes 24 on site parking spaces and a central courtyard that enhances the overall tenant experience. The unit mix consists of ten two bedroom one bathroom units and four one bedroom one bathroom units, providing functional floor plans that appeal to a wide range of renters. The property offers desirable amenities including secured entry, a well maintained courtyard environment, on site laundry, and ample parking, all located on a low traffic street. Residents benefit from close proximity to Moreno Valley Mall, nearby schools, parks, and the region’s major employment hubs within the Inland Empire. Casa Lynnda is being offered at a 6 percent cap rate and a 10.98 gross income multiplier, presenting investors with stable in place income and the opportunity to further enhance returns through continued operational efficiencies and strategic unit upgrades. Moreno Valley continues to experience steady growth supported by its relative affordability, strong freeway connectivity, and access to major logistics and employment centers throughout the Inland Empire. With rental rates remaining accessible relative to local incomes, the market continues to demonstrate consistent tenant demand and long term investment fundamentals.

FOR SALE DETAILS

PRICE

$3,295,000 USD

PRICE/SF

$260 USD /SF

# OF UNITS

14

PRICE/UNIT

$235,357

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Casa Lynnda Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.91 AC

LAND SF

39,640 SF

ZONING

R2

APN/PARCEL ID

481-140-023

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.