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$699,000
Est. payment /mo
0.4 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SW26129662
HOA Y/N No
Year Built 1950
Lot Size 0.402 Acres
Property Sub-Type Apartment
Property Description
This offering consists of 5 units in Apple Valley. This neighborhood is high pride of ownership consisting of SFR's and multifamily.
This complex is located in an ideal location. Not only is the neighborhood great but it's also located just a few hundred feet away form the Apple Valley Commons Shopping Center. This center consists of Walmart, Target, and Albertsons. Thus, tenants can easily walk to get whatever they need.
Also, for tenants children, these units are located within walking distance to elementary, middle, and high schools.
The local public bus service is located just down the block!!
These units consist of: Two 2 bedrooms 1 baths, Two 1 bedrooms 1 baths, and, One studio.
All units have their own gas & electric meters that the tenants sign up & pay for. All units have private yards/patios.
Kitchens & appliances have been upgraded. Ceiling fans and tile floors throughout.
All units are window AC/swamp cooler cooled, and wall heater heated.
Roof is in great shape with a 30 year warranty, and only 10 years old!!
Cash flow is excellent. At actual rents, it's putting out $5,885 monthly gross rent, and $70,620 annual gross rent. Equating to a rarely seen 9.90 Gross Rent Multiplier. Net Operating Income equates to $55,203 annually which gives us an outstanding 7.90% Cap Rate at actuals rents!!
Rents are below market but are month to month. While this offering performs better on actual rents than any other multifamily in the Upper Desert, the returns go off the charts at market rents. At market rents, based on nearby rent comps, this complex can put out $7,800 monthly and $93,600 annually!! TO VIEW THIS INFORMATION, INCLUDING RENT COMPS PLUS ACUTAL & MARKET RENT ROLL, PLEASE SEE SUPPLEMENTS ATTACHED AT THE TOP OF THIS MLS LISTING!!!
THIS IS THE BEST PERFORMING MULTIFAMILY IN THE UPPER DESERT!!!
This complex is located in an ideal location. Not only is the neighborhood great but it's also located just a few hundred feet away form the Apple Valley Commons Shopping Center. This center consists of Walmart, Target, and Albertsons. Thus, tenants can easily walk to get whatever they need.
Also, for tenants children, these units are located within walking distance to elementary, middle, and high schools.
The local public bus service is located just down the block!!
These units consist of: Two 2 bedrooms 1 baths, Two 1 bedrooms 1 baths, and, One studio.
All units have their own gas & electric meters that the tenants sign up & pay for. All units have private yards/patios.
Kitchens & appliances have been upgraded. Ceiling fans and tile floors throughout.
All units are window AC/swamp cooler cooled, and wall heater heated.
Roof is in great shape with a 30 year warranty, and only 10 years old!!
Cash flow is excellent. At actual rents, it's putting out $5,885 monthly gross rent, and $70,620 annual gross rent. Equating to a rarely seen 9.90 Gross Rent Multiplier. Net Operating Income equates to $55,203 annually which gives us an outstanding 7.90% Cap Rate at actuals rents!!
Rents are below market but are month to month. While this offering performs better on actual rents than any other multifamily in the Upper Desert, the returns go off the charts at market rents. At market rents, based on nearby rent comps, this complex can put out $7,800 monthly and $93,600 annually!! TO VIEW THIS INFORMATION, INCLUDING RENT COMPS PLUS ACUTAL & MARKET RENT ROLL, PLEASE SEE SUPPLEMENTS ATTACHED AT THE TOP OF THIS MLS LISTING!!!
THIS IS THE BEST PERFORMING MULTIFAMILY IN THE UPPER DESERT!!!
Location
State CA
County San Bernardino
Area Appv - Apple Valley
Interior
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Curbs, Gutter(s), Street Lights
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 0441191200000
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
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Listed by Tony Burton Burton Commercial, Inc. 951-375-7433, DRE #01014173
Nearby School & Business