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… Read More 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 $53,231 NOI and $70,620 annual gross rent. Actual rents equating to returns of a rarely seen 9.56 Gross Rent Multiplier, an outstanding 7.89% Cap Rate, and a robust 9.96% Cash on Cash Return!!
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 $76,211 NOI and $93,600 annually gross!! Further, these market rents put out returns of a 7.21 GRM, a double digit 11.29% Cap Rate, and an astonishing 22.58% Cash on Cash Return!!!
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!!! Read Less
Property listed by Burton Commercial, Inc., Tony Burton 310-259-7556
Listing Snapshot
Days Online
10
Last Updated
Property Type
Apartment
Lot Size
0.4 Acres
Year Built
1950
MLS Number
SW26129662
Additional Details
Building
Built in 1950, 2 buildings, 2 stories, Entry level: 1, Entry location: 1
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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