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Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SW25272687
HOA Y/N No
Year Built 1970
Property Sub-Type Apartment
Property Description
This Offering is 6 units located in Victorville.
Victorville is one of the three major cities in the Upper Desert. The Upper Desert is 25 miles north of San Bernardino. The Upper Desert comprises of approximately 500,000 people & has all major retailers, office businesses. The major cities are Victorville, Apple Valley, & Hesperia.
The Upper Desert multifamily market is very strong, with low crime, attractive neighborhoods, and has low vacancy rates!
This Offering is located on the east side of Victorville, The east side of Victorville is the most desirable area of Victorville, located adjacent to the most prestigious area of the Upper Desert, the Desert Knolls area of Apple Valley.
This Offering consists of one 3 bedrooms 2 baths, and five 1 bedrooms 1 baths. All units have separately metered gas and electric that tenants sign up and pay for. There are not other common area expenses, and landlord pays water and trash. All expenses are detailed in the SUPPLEMENTS attached.
This complex has the following fine amenities.
*Newer roofs.
*Updated plumbing/electric
*Newer tile floors.
*Updated appliances.
*Updated cabinetry.
*All units have been rehabbed.
*Laundry room.
*Laundry hook ups.
*Private tenant yards.
* 15 parking stalls
*Ceiling fans throughout.
*Beautiful low maintenance/cost landscaping.
The complex is heated by wall furnace, and cooled by window AC's and swamp coolers. Therefore no need for landlord worrying about high cost replacement of AC's, and no need to worry about tenant affording cooling in the summer time. Running a swamp cooler is like running a light bulb!!
All tenants are in good standing and always pay rent on time!
THIS COMPLEX REALLY PERFORMS! PLEASE SEE THE FOLLOWING GREAT RETURNS AT ACTUAL AND MARKET RENTS:
At actual rents, WE'RE PERFORMING AT A POSITIVE CASH FLOW! We're putting out an annual gross income of $92,480, a 10.16 Gross Rent Multiplier, a 7.93% Cap Rate, and a double digit 12.79% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $24,020 ANNUALLY!!!
At market rents, WE'RE POSITIVE CASH FLOW ON STERIODS! We're putting out an annual gross income of $112,800, a 8.32 Gross Rent Multiplier, a 10.08% Cap Rate, and AN EYEOPENING ROBUST 23.53% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $44,180 ANNUALLY!!!
All financials, rent roll, rent comps, and income/ expenses, are located in SUPPLEMENTS attached.
This multifamily has one of the highest returns in So Cal!
Victorville is one of the three major cities in the Upper Desert. The Upper Desert is 25 miles north of San Bernardino. The Upper Desert comprises of approximately 500,000 people & has all major retailers, office businesses. The major cities are Victorville, Apple Valley, & Hesperia.
The Upper Desert multifamily market is very strong, with low crime, attractive neighborhoods, and has low vacancy rates!
This Offering is located on the east side of Victorville, The east side of Victorville is the most desirable area of Victorville, located adjacent to the most prestigious area of the Upper Desert, the Desert Knolls area of Apple Valley.
This Offering consists of one 3 bedrooms 2 baths, and five 1 bedrooms 1 baths. All units have separately metered gas and electric that tenants sign up and pay for. There are not other common area expenses, and landlord pays water and trash. All expenses are detailed in the SUPPLEMENTS attached.
This complex has the following fine amenities.
*Newer roofs.
*Updated plumbing/electric
*Newer tile floors.
*Updated appliances.
*Updated cabinetry.
*All units have been rehabbed.
*Laundry room.
*Laundry hook ups.
*Private tenant yards.
* 15 parking stalls
*Ceiling fans throughout.
*Beautiful low maintenance/cost landscaping.
The complex is heated by wall furnace, and cooled by window AC's and swamp coolers. Therefore no need for landlord worrying about high cost replacement of AC's, and no need to worry about tenant affording cooling in the summer time. Running a swamp cooler is like running a light bulb!!
All tenants are in good standing and always pay rent on time!
THIS COMPLEX REALLY PERFORMS! PLEASE SEE THE FOLLOWING GREAT RETURNS AT ACTUAL AND MARKET RENTS:
At actual rents, WE'RE PERFORMING AT A POSITIVE CASH FLOW! We're putting out an annual gross income of $92,480, a 10.16 Gross Rent Multiplier, a 7.93% Cap Rate, and a double digit 12.79% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $24,020 ANNUALLY!!!
At market rents, WE'RE POSITIVE CASH FLOW ON STERIODS! We're putting out an annual gross income of $112,800, a 8.32 Gross Rent Multiplier, a 10.08% Cap Rate, and AN EYEOPENING ROBUST 23.53% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $44,180 ANNUALLY!!!
All financials, rent roll, rent comps, and income/ expenses, are located in SUPPLEMENTS attached.
This multifamily has one of the highest returns in So Cal!
Location
State CA
County San Bernardino
Area Vic - Victorville
Interior
Fireplace No
Laundry Washer Hookup, Electric Dryer Hookup, Gas Dryer Hookup, Laundry Room
Exterior
Pool None
Community Features Foothills, Suburban
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 0478231130000
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Tony Burton Burton Commercial, Inc. 951-375-7433
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "