We are pleased to present for sale The Colonial Manor, a unique and one-of-a-kind Multi-Family asset. The subject property boasts an excellent unit mix of (1) 3-Bed/2-Bath "Owner's Unit," (2) 2-Bed/2-Bath units, (10) 2-Bed/2-Bath units, and (1) 1-Bed/1-Bath unit. This is the first time the property has been offered for sale since its initial construction in 1974. The tenants enjoy a glass-door security coded entryway, gated onsite parking, a private recreational room, a common garden area, and an onsite laundry facility. While the current owners have rarely raised rental rates given the longevity of their ownership, the city of Rialto rental market has offered strong rental demand and rental rate growth over the last decade, most recently with rents growing by 15.2% in 2021 and poised to grow at a 7.8% rate this year (per CoStar Group). With market rental rates in place, there is an approximate 55% upside in rental income, ideal for an investor looking for a "value-add" asset.
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