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Listed by Tony Burton • Burton Commercial, Inc.
$ 899,000
Est. payment | /mo
5,200 SqFt
$ 899,000
Est. payment | /mo
5,200 SqFt
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 5,200 sqft
Price per Sqft $172
MLS Listing ID SW-25272687
Year Built 1970
Lot Size 0.326 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
SEE APPRAISAL FOR $925,000 ATTACHED!!
Offering is 6 units in Victorville.
Victorville is one of 3 major cities in Upper Desert. We're located 25 miles N/O San Bernardino. The Upper Desert comprises of 500,000+/- people & has all major retail/office businesses. Major cities are Victorville, Apple Valley, & Hesperia.
The Upper Desert multifamily market is very strong, low crime, attractive neighborhoods, & low vacancy rates!
This Offering is located on E/S of Victorville, the most desirable area of Victorville, adjacent to the most prestigious area of Upper Desert, Desert Knolls.
Offering consists of one 3 bedrooms 2 baths, and five 1 bedrooms 1 baths. All units have separately metered gas/electric that tenants sign up and pay for. There are not other common area expenses, & landlord pays water and trash. All expenses are in 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.
Complex heated by wall furnace & cooled by window AC's & swamp coolers. no need for landlord worrying about high cost replacement of AC's, & no need TENANT affording summer time cooling. Running a swamp cooler is like running a light bulb!!
All tenants are in good standing and always pay rent on time!
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 $92,460, a 9.72 Gross Rent Multiplier, a 8.33% Cap Rate, and a double digit 14.78% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $26,569 ANNUALLY!!!
At market rents, WE'RE POSITIVE CASH FLOW ON STERIODS! We're putting out an annual gross income of $112,800, a 7.97 Gross Rent Multiplier, a 10.57% Cap Rate, and AN EYEOPENING ROBUST 25.99% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $46,729 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!
SELLER IS MOTIVATED & READY TO DEAL!
WE WENT INTO ESCROW RIGHT AFTER LISTING. BUYER DIDN'T QUALIFY BUT APPRAISAL WAS DONE & ATTACHED IN SUPPLEMENTS. APPRAISED FOR $925,000!!! MUCH MORE THAN OUR ASKING PRICE!!
Offering is 6 units in Victorville.
Victorville is one of 3 major cities in Upper Desert. We're located 25 miles N/O San Bernardino. The Upper Desert comprises of 500,000+/- people & has all major retail/office businesses. Major cities are Victorville, Apple Valley, & Hesperia.
The Upper Desert multifamily market is very strong, low crime, attractive neighborhoods, & low vacancy rates!
This Offering is located on E/S of Victorville, the most desirable area of Victorville, adjacent to the most prestigious area of Upper Desert, Desert Knolls.
Offering consists of one 3 bedrooms 2 baths, and five 1 bedrooms 1 baths. All units have separately metered gas/electric that tenants sign up and pay for. There are not other common area expenses, & landlord pays water and trash. All expenses are in 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.
Complex heated by wall furnace & cooled by window AC's & swamp coolers. no need for landlord worrying about high cost replacement of AC's, & no need TENANT affording summer time cooling. Running a swamp cooler is like running a light bulb!!
All tenants are in good standing and always pay rent on time!
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 $92,460, a 9.72 Gross Rent Multiplier, a 8.33% Cap Rate, and a double digit 14.78% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $26,569 ANNUALLY!!!
At market rents, WE'RE POSITIVE CASH FLOW ON STERIODS! We're putting out an annual gross income of $112,800, a 7.97 Gross Rent Multiplier, a 10.57% Cap Rate, and AN EYEOPENING ROBUST 25.99% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $46,729 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!
SELLER IS MOTIVATED & READY TO DEAL!
WE WENT INTO ESCROW RIGHT AFTER LISTING. BUYER DIDN'T QUALIFY BUT APPRAISAL WAS DONE & ATTACHED IN SUPPLEMENTS. APPRAISED FOR $925,000!!! MUCH MORE THAN OUR ASKING PRICE!!
Location
State CA
County San Bernardino
Area Vic - Victorville
Interior
Laundry Electric Dryer Hookup, Gas & Electric Dryer Hookup, Gas Dryer Hookup, Individual Room, Washer Hookup
Exterior
Pool None
Community Features Foothills, Suburban
Building
Lot Description 2-5 Units/Acre
Sewer Public Sewer
Nearby Locations
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Marissa Buss & Danny Lampert
Lic# 01770909 | 01834114