JLL, as exclusive advisor, is pleased to present for sale, Vista Imperio (the “Property”), a 158-unit multi-housing investment opportunity in Riverside, California. Constructed in 2004 as a low-density garden-style community, Vista Imperio is performing exceptionally well with a current occupancy rate of ±97.5%, current lease trade outs of ±5.9%, and ±7.8% trailing 12-month Net Potential Rent growth.
Ideally located off Sycamore Canyon Boulevard with visibility from I-215 and CA-60, Vista Imperio offers immediate adjacency to employment and education throughout the Inland Empire. The Property, positioned in the highly desirable Sycamore Highlands pocket of Riverside, features a best-in-class amenity set that includes an in-unit washer/dryer, a private patio/balcony, and garage parking for each unit. Vista Imperio has capitalized on exceptional market and submarket fundamentals, and is poised for continued growth and durable cash flow through a strategic value-add program. In addition to marking rents to market, new ownership can capitalize on additional annual rental income through the continuation of current ownership’s proven unit interior renovation program to ±28% of the units. Looking forward, strong fundamentals are projected to continue as no projects are under construction within a 3-mile radius.
Vista Imperio represents an attractive opportunity for an investor to acquire a high-quality asset with upside potential in the nationally recognized Inland Empire market - at a significant discount to replacement cost.