Listed by Douglas McCauley with MARCUS & MILLICHAP 626-695-6776

We are proud to exclusively present the opportunity to acquire Elowyn Estates, a premier retirement community situated at 13537 5th Street in Yucaipa, California. Completed in December 2024, this newly constructed 16-unit multifamily investment property is positioned on two adjacent parcels totaling 0.91 acres (39,720 square feet). The property consists of eight single-story duplexes, encompassing a total building area of 13,232 square feet. Elowyn Estates is designed as a senior 55+ community and offers a well-balanced unit mix, featuring eight one-bedroom/one-bathroom units and eight two-bedroom/two-bathroom units.
Each residence is equipped with a range of modern amenities, including central air conditioning, in-unit washer/dryer hookups, a private patio, and assigned open parking. Interior finishes are highlighted by quartz countertops, carpet and vinyl flooring, recessed lighting, and brand-new appliances. The property also boasts sustainable landscaping and fully owned solar panels installed on all pitched roofs, ensuring renewable energy at no additional cost. All units are individually metered for gas and electricity, and feature individual hot water heaters. Given the property's status as a new development, there is a significant opportunity to adjust rental rates in line with current market trends, offering the potential for enhanced cash flow.
Elowyn Estates benefits from an ideal location, situated less than one mile east of the Interstate 10 Freeway, providing convenient access to the Inland Empire and the Palm Desert. Set in a quiet, suburban neighborhood, the property is surrounded by single-family homes and local parks, while also being a short drive from essential services such as Stater Bros. Market, Tropicana Supermarket, and Dollar General. Residents can enjoy nearby I Street Park, which features softball fields, tennis courts, basketball courts, cabanas, and playgrounds. Additionally, The Scherer Community Center, located just 2.5 miles from the property, offers a wide array of senior programs, including exercise classes, group activities, and nutritional services.