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BEAUTIFUL TOWNHOUSE APARTMENTS, BEST RETURNS! 14965 Culley St 5 Unit Apartment Building $875,000 ($175,000/Unit) 12.34% Cap Rate Victorville, CA 92395
Investment Highlights
- AT MARKET RENTS, WE'RE PUTTING OUT $122,220 ANNUAL GROSS INCOME, A 12.34% CAP RATE, AND A 34.83% CASH ON CASH!!!
- ALL UNITS HAVE FIREPLACES AND THEIR OWN SINGLE CAR GARAGE!!!
- BEAUTIFUL TOWNHOUSE STYLE APARTMENTS!!! ALL UNITS ARE 2 BEDROOM, 1.5 BATHS
- THE ONLY OTHER 5 UNIT AVAILABLE IN THE UPPER DESERT IS LISTED FOR $274,999 MORE THAN US!!!
Executive Summary
These are breathtakingly beautiful townhome apartments, located in an extremely nice area of Victorville.
Victorville is located along the 15 freeway just 25 minutes north of San Bernardino. The trip to San Bernardino and the nearby So Cal areas of Orange/Los Angeles counties can be reached within 25-60 minutes respectively along a consistent 10 lane freeway.
These units consist of four 2 bed, 1.5 baths. All units have their own single car garages. All units have beautiful large real fireplaces! All rooms are huge including large upgraded kitchens! Units have laundry facilities!!
THESE UNITS CAN REALLY PERFORM!!!
At actual rents, rents are low but month to month. We have a positive cash flow at actual rents. And tenants are open to discussing raising their rents after closing. This is because if asked to leave with Just Cause, they would have to pay market rents elsewhere and change homes!
At market rents, we fly off the charts!!! At market rents, we're putting out $122,220 annual gross income, a 7.16 Gross Rent Multiplier, a whopping 12.34% Cap Rate, and a robust 34.83% Cash on Cash Return!!!
Please find the MARKETING PACKAGE attached to view income, expenses, rent comps, and a nearby offering sale comp. Also in the MARKETING PACKAGE attached, you will find the ONLY other Upper Desert five units available, similar beds/baths, and they are asking $1,149,999. We are asking $875,000!!!
Victorville is located along the 15 freeway just 25 minutes north of San Bernardino. The trip to San Bernardino and the nearby So Cal areas of Orange/Los Angeles counties can be reached within 25-60 minutes respectively along a consistent 10 lane freeway.
These units consist of four 2 bed, 1.5 baths. All units have their own single car garages. All units have beautiful large real fireplaces! All rooms are huge including large upgraded kitchens! Units have laundry facilities!!
THESE UNITS CAN REALLY PERFORM!!!
At actual rents, rents are low but month to month. We have a positive cash flow at actual rents. And tenants are open to discussing raising their rents after closing. This is because if asked to leave with Just Cause, they would have to pay market rents elsewhere and change homes!
At market rents, we fly off the charts!!! At market rents, we're putting out $122,220 annual gross income, a 7.16 Gross Rent Multiplier, a whopping 12.34% Cap Rate, and a robust 34.83% Cash on Cash Return!!!
Please find the MARKETING PACKAGE attached to view income, expenses, rent comps, and a nearby offering sale comp. Also in the MARKETING PACKAGE attached, you will find the ONLY other Upper Desert five units available, similar beds/baths, and they are asking $1,149,999. We are asking $875,000!!!
Property Facts
| Price | $875,000 | Building Class | C |
| Price Per Unit | $175,000 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 4,500 SF |
| Cap Rate | 12.34% | Average Occupancy | 95% |
| Gross Rent Multiplier | 7.16 | No. Stories | 2 |
| No. Units | 5 | Year Built | 1988 |
| Property Type | Multifamily | Parking Ratio | 1.4/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R3, Victorville | ||
| Price | $875,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 12.34% |
| Gross Rent Multiplier | 7.16 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1988 |
| Parking Ratio | 1.4/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Victorville |
Amenities
Unit Amenities
- Fireplace
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 5 | - | 900 |
1 1
Property Taxes
| Parcel Number | 0477-393-12 | Improvements Assessment | $520,000 |
| Land Assessment | $180,000 | Total Assessment | $700,000 |
Property Taxes
Parcel Number
0477-393-12
Land Assessment
$180,000
Improvements Assessment
$520,000
Total Assessment
$700,000
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Presented by
Burton Apartment Realtors
BEAUTIFUL TOWNHOUSE APARTMENTS, BEST RETURNS! | 14965 Culley St
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