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Listed by Tony Burton • Burton Commercial, Inc.
$699,000
Est. payment /mo
3,667 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,667 sqft
Price per Sqft $190
MLS Listing ID SW-26129662
Year Built 1950
Lot Size 0.403 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
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
Laundry Inside
Exterior
Pool None
Community Features Curbs, Gutters, Street Lights
Building
Lot Description 2-5 Units/Acre
Sewer Public Sewer
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Nearby Locations
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900