Pinecrest Apartments 1683 Pumalo Street East
San Bernardino, CA 92404
For Sale
52,070 sqft
Sale Price
$10,800,000
Brochure
Property Website
Map
Multifamily For Sale - Available October 2026
Pinecrest Apartments | 57 Units in San Bernardino | Value Add
Well-maintained 57-unit Apartment Community in San Bernardino’s Northeast Sterling neighborhood.
Excellent unit mix consisting of one 1-bedroom/1-bathroom unit and fifty-six 2-bedroom/2-bathroom units serving a broad renter demographic with consistent demand throughout San Bernardino County.
Units are large spacious with an average unit size of 914 SF.
Approximately 47% of units have been renovated with modern wood-style flooring, designer countertops, contemporary fixtures, newer style appliances, and central AC/Heating.
Great value-add opportunity for the next investor by renovating the remaining 53% of units and capitalizing on 25% rental upside to achieve a 7.89% pro forma CAP rate and 7.96 pro forma GRM.
At $189,474 per unit and approximately $207 per square foot, the property offers an attractive entry point in the high-demand Inland Empire market.
Property is CA SB-721 compliant with many decks and walkways recently replaced with brand-new wood and decking.
Residents enjoy a secure gated community, sparkling swimming pool, new onsite laundry facility, assigned surface parking, and attractively landscaped grounds, and updated interiors in approximately half of the units.
Convenient location with direct access to the State Route 210 and Interstates 215, 15, and 10 linking residents to major employment centers throughout San Bernardino County and the Greater Los Angeles region.
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955
CBRE, Inc., as exclusive advisor, is pleased to present the prime investment opportunity to acquire Pinecrest Apartments, located at 1683 Pumalo Street in San Bernardino, California.
This offering presents an exceptional opportunity to secure a stabilized asset in the high-demand Inland Empire, boasting a strong 5.73% entry CAP rate with a clear path to a 7.89% pro forma yield through a captured 25% rental upside. Situated on a sprawling ±101,200 square foot lot with a total building area of ±52,070 square feet, the property reflects meaningful capital investment, with approximately 47% of units having undergone full renovation featuring modern wood-style flooring, designer countertops, updated interior paint, contemporary fixtures, and newer style appliances, making it highly attractive to today’s renters.
The 57-unit asset 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 effectively links residents to major employment hubs throughout San Bernardino County and the Greater Los Angeles region. Pinecrest Apartments features a unit mix of one 1-bedroom/1-bathroom and fifty-six 2-bedroom/2-bathroom residences, 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 residents with a sparkling swimming pool, a new onsite laundry facility, and assigned parking on attractively landscaped grounds.
San Bernardino’s 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 Amazon’s regional fulfillment operations, generating consistent renter demand from healthcare professionals, educators, and logistics workers throughout the submarket.
The property’s location is a significant driver of value, situated less than nine minutes from the San Bernardino Metrolink station on the San Bernardino Line with direct service to Los Angeles Union Station, and just seven miles from California State University, San Bernardino. Residents benefit from proximity to Downtown San Bernardino, the Yaamava’ Resort and Casino, Dignity Health - St. Bernardine Medical Center, the San Bernardino International Airport, and the San Bernardino National Forest, offering a unique blend of urban accessibility and outdoor recreation.
Pinecrest Apartments is a stable income-producing asset in San Bernardino’s high-demand Inland Empire submarket. Whether for a 1031 Exchange buyer, a first-time investor, or a seasoned investor, this property provides long-term stability and significant growth potential underpinned by strong economic and demographic fundamentals.
This offering presents an exceptional opportunity to secure a stabilized asset in the high-demand Inland Empire, boasting a strong 5.73% entry CAP rate with a clear path to a 7.89% pro forma yield through a captured 25% rental upside. Situated on a sprawling ±101,200 square foot lot with a total building area of ±52,070 square feet, the property reflects meaningful capital investment, with approximately 47% of units having undergone full renovation featuring modern wood-style flooring, designer countertops, updated interior paint, contemporary fixtures, and newer style appliances, making it highly attractive to today’s renters.
The 57-unit asset 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 effectively links residents to major employment hubs throughout San Bernardino County and the Greater Los Angeles region. Pinecrest Apartments features a unit mix of one 1-bedroom/1-bathroom and fifty-six 2-bedroom/2-bathroom residences, 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 residents with a sparkling swimming pool, a new onsite laundry facility, and assigned parking on attractively landscaped grounds.
San Bernardino’s 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 Amazon’s regional fulfillment operations, generating consistent renter demand from healthcare professionals, educators, and logistics workers throughout the submarket.
The property’s location is a significant driver of value, situated less than nine minutes from the San Bernardino Metrolink station on the San Bernardino Line with direct service to Los Angeles Union Station, and just seven miles from California State University, San Bernardino. Residents benefit from proximity to Downtown San Bernardino, the Yaamava’ Resort and Casino, Dignity Health - St. Bernardine Medical Center, the San Bernardino International Airport, and the San Bernardino National Forest, offering a unique blend of urban accessibility and outdoor recreation.
Pinecrest Apartments is a stable income-producing asset in San Bernardino’s high-demand Inland Empire submarket. Whether for a 1031 Exchange buyer, a first-time investor, or a seasoned investor, this property provides long-term stability and significant growth potential underpinned by strong economic and demographic fundamentals.
San Bernardino, California, nestled in the heart of the Inland Empire within San Bernardino County, boasts a rich history and a dynamic present. Situated at the base of the San Bernardino Mountains, and just east of the neighboring city of Rialto, San Bernardino has played a crucial role in the region’s development. From its origins as an ancestral Tongva and Serrano settlement to its transformation into a major logistical hub, San Bernardino has witnessed significant growth. The arrival of the Santa Fe Railroad in the late 19th century spurred this expansion, connecting the “Gate City” to the rest of the region and facilitating the transportation of citrus and people.
Today, San Bernardino is a bustling city with a diverse economy and a vibrant community. It serves as a major transportation hub with easy access to the I-10, I-215, and SR-210 freeways and San Bernardino International Airport, making it a key gateway to the Inland Empire. The city is also home to several popular local landmarks, including the original McDonald’s Site and Museum and the historic California Theatre of the Performing Arts, which draw visitors from all over the region. While precise annual visitor numbers can fluctuate, San Bernardino’s logistical prominence and central location contribute to a significant influx of business and leisure travelers each year. The city’s proximity to the mountains provides residents with opportunities for outdoor recreation, while its rich history is preserved in local architecture and landmarks.
San Bernardino’s economy is a diverse mix of industries, with a strong emphasis on logistics, government, and healthcare. Its strategic location near major transportation corridors has made it a premier hub for massive fulfillment centers, attracting global giants like Amazon, Kohl’s, and Mattel. The city also has a significant manufacturing presence, with companies producing everything from aerospace components to food products and construction materials. Compared to other Inland Empire cities, San Bernardino boasts a robust public sector and industrial base that serves as the “backbone” of the regional economy, contributing heavily to its long-term economic vitality.
In terms of housing, San Bernardino offers a mix of options, including single-family homes, historic bungalows, and multi-family apartments. While housing costs have risen in recent years, they generally remain more affordable than in neighboring Los Angeles or Orange Counties. This affordability, coupled with the city’s vast job opportunities in the distribution and medical sectors, attracts a diverse range of renters. You’ll find everyone from students and young families to healthcare professionals and industrial workforce members calling San Bernardino home. The city’s ongoing investment in the downtown core and transit-oriented developments suggest that its economy and housing market will continue to thrive.
San Bernardino offers a variety of recreational and entertainment options for residents and visitors alike. The city boasts numerous parks and facilities, such as Seccombe Lake Park and Wildwood Park, providing opportunities for sports, picnicking, and community gatherings. The nearby San Bernardino Mountains offer additional recreational opportunities, including hiking trails, camping, and snow sports just a short drive away. For entertainment, San Bernardino is home to the Glen Helen Amphitheater and the San Manuel Stadium, while the National Orange Show Event Center remains a popular venue for festivals and motorsports enthusiasts. The city also hosts annual community events and seasonal festivals, fostering a sense of local pride and offering entertainment for all ages. While San Bernardino is known for its sprawling residential areas, it offers a selection of local restaurants, craft breweries, and the hospitality of the Hospitality Lane district, ensuring there are plenty of options for shopping and dining out. The proximity to other Inland Empire cities further expands the range of nightlife and cultural entertainment options available within a short drive.
Today, San Bernardino is a bustling city with a diverse economy and a vibrant community. It serves as a major transportation hub with easy access to the I-10, I-215, and SR-210 freeways and San Bernardino International Airport, making it a key gateway to the Inland Empire. The city is also home to several popular local landmarks, including the original McDonald’s Site and Museum and the historic California Theatre of the Performing Arts, which draw visitors from all over the region. While precise annual visitor numbers can fluctuate, San Bernardino’s logistical prominence and central location contribute to a significant influx of business and leisure travelers each year. The city’s proximity to the mountains provides residents with opportunities for outdoor recreation, while its rich history is preserved in local architecture and landmarks.
San Bernardino’s economy is a diverse mix of industries, with a strong emphasis on logistics, government, and healthcare. Its strategic location near major transportation corridors has made it a premier hub for massive fulfillment centers, attracting global giants like Amazon, Kohl’s, and Mattel. The city also has a significant manufacturing presence, with companies producing everything from aerospace components to food products and construction materials. Compared to other Inland Empire cities, San Bernardino boasts a robust public sector and industrial base that serves as the “backbone” of the regional economy, contributing heavily to its long-term economic vitality.
In terms of housing, San Bernardino offers a mix of options, including single-family homes, historic bungalows, and multi-family apartments. While housing costs have risen in recent years, they generally remain more affordable than in neighboring Los Angeles or Orange Counties. This affordability, coupled with the city’s vast job opportunities in the distribution and medical sectors, attracts a diverse range of renters. You’ll find everyone from students and young families to healthcare professionals and industrial workforce members calling San Bernardino home. The city’s ongoing investment in the downtown core and transit-oriented developments suggest that its economy and housing market will continue to thrive.
San Bernardino offers a variety of recreational and entertainment options for residents and visitors alike. The city boasts numerous parks and facilities, such as Seccombe Lake Park and Wildwood Park, providing opportunities for sports, picnicking, and community gatherings. The nearby San Bernardino Mountains offer additional recreational opportunities, including hiking trails, camping, and snow sports just a short drive away. For entertainment, San Bernardino is home to the Glen Helen Amphitheater and the San Manuel Stadium, while the National Orange Show Event Center remains a popular venue for festivals and motorsports enthusiasts. The city also hosts annual community events and seasonal festivals, fostering a sense of local pride and offering entertainment for all ages. While San Bernardino is known for its sprawling residential areas, it offers a selection of local restaurants, craft breweries, and the hospitality of the Hospitality Lane district, ensuring there are plenty of options for shopping and dining out. The proximity to other Inland Empire cities further expands the range of nightlife and cultural entertainment options available within a short drive.
Total Space Available
52,070 sqft
Sale Price
$10,800,000
Get in touch
Eric Chen
Lic: 01489184
Blake Torgerson
Lic: 01919955