Kendall Brook Apartments

JLL, as exclusive advisor, is pleased to present for sale, Kendall Brook Apartments

(the “Property” or “Kendall Brook”), a 113-unit, value-add multi-housing investment

opportunity in San Bernardino, known as “America’s Distribution Capital.” Strategically

located at 1200 Kendall Drive in the heart of the Inland Empire’s logistics epicenter,

Kendall Brook Apartments offers exceptional proximity to major distribution hubs and

direct access to the region’s extensive network of industrial employers including Amazon,

FedEx, UPS, Target, and countless other Fortune 500 companies that have established

major operations throughout San Bernardino.

Built in 1986, this garden-style community presents significant rental upside across the

entire 113-unit property totaling ±80,278 net rentable square feet with an average unit

size of ±710 SF situated on ±2.55 acres. The Property has been owned and operated by

a private partnership for 18 years and benefits from San Bernardino’s position as a critical

logistics hub, driving consistent housing demand from the area’s robust industrial job

market. New ownership can immediately capture approximately ±9.2% in loss-to-lease,

representing ±$161 per unit in mark to market upside. The investment opportunity is

further enhanced through a comprehensive value-add strategy, offering a demonstrated

23% renovation upside by completing unit renovations across all 113 units (100% of

property).

With today’s cost to replicate garden construction materially north of $450,000/

unit, Kendall Brook offers an attractive value-add thesis at a compelling discount to

replacement cost. This garden community represents an exceptional opportunity for

new ownership to execute on a proven renovation strategy while capitalizing on San

Bernardino’s continued expansion as America’s premier distribution and logistics center.