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Tamra Frost

[email protected] +1(619) 890-7688

$699,000

Est. payment - /mo

4 Beds

4 Baths

0.4 Acres Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SW26129662

Bedrooms 4

Lot Size 0.403 Acres

Property Sub-Type Res Income 2-4 Units

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

Location

State CA

County San Bernardino

Zoning Assessor

Direction Happy Trails to Broken Bow

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 2

Level or Stories 2

Others

Senior Community No

Tax ID 0441191200000

Acceptable Financing Cash

Listing Terms Cash

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Listed by Tony Burton, DRE#01014173 Burton Commercial, Inc.

Nearby School & Business

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Tamra Frost

+1(619) 890-7688

Agent | CA BRE #01870290

Agent CA BRE #01870290

San Diego Communities

20365 Broken Bow Apple Valley, CA 92307

Tamra Frost

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information