$504,000
$578,888
12.9%For more information regarding the value of a property, please contact us for a free consultation.
0.64 Acres Lot
SOLD DATE : 11/27/2019
Key Details
Sold Price $504,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID IV19096154
Sold Date 11/27/19
HOA Y/N No
Year Built 1959
Lot Size 0.640 Acres
Property Description
Investment Highlights: Offering Actual CAP Rate of 6.91 % / ProForma CAP Rate of 7.53 %. Offering Actual GRM of 8.80, With a ProForma GRM of 8.04. Conservative 5-7 % Upside in Potential Rental Income. Located 8 Minutes From St. Mary’s Medical Center Hospital. Recent Capital Improvements. Non-Rent Control Community & Area. Long Term Tenants With Upside in Potential Rental Income. The Apartment is 100 % Occupied & Rental Comparables Illustrate a 99 % Occupancy Area. The 21225 Wigwam apartments are located on the corner lot of Dale Evans Parkway and Wigwam Road. This large 0.64 acre lot has great visibility from Highway 18 and the 15 freeway. The Property has accessible onsite parking in the front. This six unit apartment community is composed of all 2 bedroom / 1 bedroom units that are approximately 933 Sq. Ft. The property has recent improvements and is 100% occupied. This apartment community has been well maintained throughout ownership. The current owner does updates and improvements on a scheduled basis. The repairs and maintenance of the property and ground have been done as necessary, on time, & without deferring maintenance. The condition of the property offers prospective buyers an asset that will require very minimal maintenance for decades to come.
Location
State CA
County San Bernardino
Area Appv - Apple Valley
Interior
Cooling Central Air, Wall/Window Unit(s)
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Suburban
Total Parking Spaces 6
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 1
Entry Level One
Sewer Septic Tank
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 0440023200000
Acceptable Financing Submit
Listing Terms Submit
Financing Cash
Special Listing Condition Standard
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Bought with ALBERT LE • LE INVESTMENT GROUP
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "