$10,800,000

Pinecrest Apartments presents a prime opportunity to acquire a 57-unit community located at 1683 Pumalo Street in San Bernardino, California. Situated on a sprawling +/-101,200 square foot lot with a total building area of +/-52,070 square feet, the property reflects meaningful capital improvements, with approximately 47% of units having undergone a full renovation featuring modern wood-style flooring, designer countertops, updated interior paint, contemporary fixtures, and newer style appliances. The 57-unit community spans nine buildings in the Northeast Sterling neighborhood, offering seamless connectivity via the State Route 210 freeway with immediate access to Interstates 215 and 10. This central location links San Bernardino County and the Greater Los Angeles region. Pinecrest features a unit mix of one 1-bedroom/1-bathroom and fifty-six 2-bedroom/2-bathroom floor plans, with a generous average unit size of +/-914 square feet. Built in 1985, the community is meticulously maintained and offers a well-appointed amenity package designed for comfort and convenience. Interior features include central air and heating, newer style appliances, and large outdoor patios in select units. The community provides a sparkling swimming pool, a new onsite laundry facility, and assigned parking on attractively landscaped grounds. San Bernardinos resilient economy is anchored by major employers including the County of San Bernardino, Dignity Health, the San Bernardino City Unified School District, Stater Bros. Markets, and Amazons regional fulfillment operations. The location is less th