Elevate at Towngate

JLL, as exclusive advisor, is pleased to present for sale Elevate at Towngate (the “Property” or “Elevate”), a 227-

unit opportunistic multi-housing investment opportunity located in Moreno Valley, the fourth largest city in

the nationally recognized and rapidly growing Inland Empire. Centrally located in Riverside County with scenic

views of the surrounding mountains and direct access to the 60 freeway and I-215, Elevate provides residents

easy access to all of Southern California, while offering attractive housing affordability relative to neighboring

coastal markets and the local single-family housing stock.

Elevate was constructed in 1973 as a low-density garden style community nestled in a 600-acre master-planned

community off Elsworth St and Cottonwood Ave. The Property has benefited significantly from the Inland

Empire’s population growth and thriving economy, as evidenced by the impressive ±44% in-place rent growth

since 2019. Additionally, Elevate currently has 45 affordable units which expire in phases, with 10 units expiring

in 2025 and 35 units expiring in 2030, offering potential revenue upside through moving BMR units to market

and strategic renovations. Elevate represents an attractive opportunity for an investor to acquire a cash-flowing

asset with proven upside potential in one of the nation’s top multi-housing markets, all at a significant discount

to replacement cost.