Newly refurbished Golden California Apartments nearly fully leased

A newly refurbished apartment complex in San Bernardino is thriving according to the company that handled the project and is managing the property.

Capitalist Masters Group (CMG) who purchased the property and specializes in the rehabilitation of rental housing, reports that rentals are brisk and the apartment complex, the 44-unit Golden California Apartments at 1415 E Date Street in San Bernardino, between Sterling and Del Rosa Avenues is reaching capacity.

According to CMG the apartment complex is 75% full despite very strict requirements to sign a rental agreement.  Applicants must be able to prove 12 months of continuous income of at least 2.5 times the cost of their rent.  They must also pass a background check and have a FICO score of at least 600.

According to regional real estate expert Joseph W. Brady, CEO of the Bradco Companies, “We have a severe shortage of housing units in the Inland Empire and as long as that continues rentals should be brisk and landlords will be able to dictate these types of requirements.”

The complex of 2- and 3-bedroom apartments has been thoroughly rehabilitated, including an overhaul of the water and sewer systems, updated heating and cooling, a new roof on the entire complex, new paint and vinyl flooring throughout, and high-end finishes such as granite countertops.  The complex features a brand-new courtyard with a play-area and barbecue amenities.  Rents range from $1,280 to $1,595 depending on the unit size, bedrooms and amenities.

“I am ecstatic with the response we are getting from the community,” said CMG Managing Partner, Cuthberto Ramos.  “People love this complex when they see it, using phrases like its “high-end” and “feels-safe” when they visit and even better, they are signing rental agreements.  The pace of rentals is exceeding our expectations.”