Both properties feature modern amenities, including washer/dryer hookups in every unit, private patios and balconies, energy-efficient, tankless water heaters, and assigned parking.

The properties sit within a key logistics and transportation hub near major transportation routes, including I-10, I-15, and SR-210.

Fontana, located in San Bernardino County, is known for parks, libraries and cultural venues. Its economic development makes it an increasingly attractive destination for residents and businesses.

JLL Capital Market’s debt advisory team was led by Managing Director Dale Holzer.

“Demand for apartments in San Bernardino is expected to increase in 2025,” Holzer told GlobeSt.com.

Absorption was positive throughout last year in the city, logging its first annual increase since 2021, according to Holzer. The vacancy rate has decreased from a recent peak of 5.6% to 4.9%, as of the second quarter of 2025. The pace of apartment rent growth in San Bernardino is rising again, improving to over 2.5% in 2024 from less than 1% in 2023.

Its trailing year rent growth currently measures 2%, rising as vacancy in the area ticks lower. Asset values declined from 2022-23 as cap rates increased by over 200 basis points, commonly entering the mid-5% range.

“However, pricing appears to have reached a floor, and the sector's favorable long-term demographic tailwinds and more favorable capital market conditions are expected to push valuations higher moving forward,” he said.

Deliveries in Fontana spiked in 2023 and remained elevated in 2024, with over 500 units reaching completion. Construction activity peaked in the second quarter of 2023 at 1,600 units, subsiding to 500 units, or 1.2% of existing inventory underway as of the second quarter of 2025.

“Large-scale projects in the area are rare, but developers have built a few recently,” Holzer said.

“The construction pipeline is concentrated in Fontana along Foothill Blvd, where a 206-unit build-to-rent community has recently been completed, a 420-unit complex is nearing completion, and a 344-unit development is also underway. Most of the new apartments completed over the past three years are also located in Fontana or Redlands, where incomes are higher, justifying higher rents.”

As part of the Riverside-San Bernardino-Ontario, CA MSA, the Fontana area has shown consistent growth from 2011 to date, and is set to increase from approximately 4.24 million residents to an estimated 4.78 million by the end of 2025, according to Markrr research.

Median household income has risen significantly to $91,400 from $57,000 during that time, and mean rents have increased from 2011 ($1,293) to 2025 ($2,377).