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29.14% CASH ON CASH AT MARKET RENTS!! 15563-15575 5th St 6 Unit Apartment Building $825,000 ($137,500/Unit) 8.95% Cap Rate Victorville, CA 92395
Investment Highlights
- A 8.95% CAP RATE, AND A 17.86% CASH ON CASH, AT ACTUAL RENTS
- NICE MIX OF SIX UNITS, WITH, FOUR 2 BEDS 1 BATHS, AND TWO 1 BEDS 1 BATHS
- WALKING DISTANCE TO GROCERY/DRUG/ BUS STOP
- A 11.20% CAP RATE, AND A 29.14% CASH ON CASH, AT MARKET RENTS
- GREAT LOCATION, JUST OFF THE 15 FREEWAY & D ST, JUST WEST OF DESERT KNOLLS!
- EASY ACCESS TO 6 LAND FREEWAY, AND JUST 25 MINUTES TO SAN BERNARDINO
Executive Summary
The robust returns of this 6 unit apartment in Victorville are an eye opener. Due to the Seller's plans to trade to an already existing up-leg, this offering is purposefully priced at a fire quick/sale price!!!
The location is fantastic. It's located just off the 15 Freeway and D St, just minutes west of the "Beverly Hills" of the Upper Desert, Desert Knolls. It's an easy tenant commute to local employment, and just 25 minutes down a six lane freeway to San Bernardino. Further, our complex is walking distance to bus stop, grocery, and drug stores.
This apartment consists of:
Four 2 bedrooms, 1 baths.
Two 1 bedrooms, 1 baths.
All units are separately metered with gas and electric that tenants sign up and pay for.
Most units have their own private fenced yard.
There's a laundry room in the complex.
WHAT'S STUNNING ABOUT THESE UNITS IS THE PERFORMANCE!!!
PERFORMANCE AT ACTUAL RENTS
We're putting out $95,400 annual gross income. A 8.65 Gross Rent Multiplier. A 8.95% Cap Rate. And a robust 17.86% Cash on Cash. Your 20% bank down payment gives you $29,475 NET NET NET in your pocket annually!!!
PERFORMANCE AT MARKET RENTS
We're putting out $114,000 annual gross income. A 7.24 Gross Rent Multiplier. A 11.20% DOUBLE DIGIT Cap Rate. And a UNHEARD OF 29.14% Cash on Cash. Your 20% bank down payment gives you $48,075 NET NET NET in your pocket annually!!! Please see RENT COMPS attached in MARKETING PACKAGE to confirm market rents.
To view rent roll, and verification of income, returns, and expenses, PLEASE SEE MARKETING PACKAGE attached.
This will be a truly great life changing beneficial decision for whomever decides to jump on this opportunity.
For any questions, please don't hesitate to contact me. I'm here to help! Thank you
The location is fantastic. It's located just off the 15 Freeway and D St, just minutes west of the "Beverly Hills" of the Upper Desert, Desert Knolls. It's an easy tenant commute to local employment, and just 25 minutes down a six lane freeway to San Bernardino. Further, our complex is walking distance to bus stop, grocery, and drug stores.
This apartment consists of:
Four 2 bedrooms, 1 baths.
Two 1 bedrooms, 1 baths.
All units are separately metered with gas and electric that tenants sign up and pay for.
Most units have their own private fenced yard.
There's a laundry room in the complex.
WHAT'S STUNNING ABOUT THESE UNITS IS THE PERFORMANCE!!!
PERFORMANCE AT ACTUAL RENTS
We're putting out $95,400 annual gross income. A 8.65 Gross Rent Multiplier. A 8.95% Cap Rate. And a robust 17.86% Cash on Cash. Your 20% bank down payment gives you $29,475 NET NET NET in your pocket annually!!!
PERFORMANCE AT MARKET RENTS
We're putting out $114,000 annual gross income. A 7.24 Gross Rent Multiplier. A 11.20% DOUBLE DIGIT Cap Rate. And a UNHEARD OF 29.14% Cash on Cash. Your 20% bank down payment gives you $48,075 NET NET NET in your pocket annually!!! Please see RENT COMPS attached in MARKETING PACKAGE to confirm market rents.
To view rent roll, and verification of income, returns, and expenses, PLEASE SEE MARKETING PACKAGE attached.
This will be a truly great life changing beneficial decision for whomever decides to jump on this opportunity.
For any questions, please don't hesitate to contact me. I'm here to help! Thank you
Property Facts
| Price | $825,000 | Building Class | C |
| Price Per Unit | $137,500 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 4,000 SF |
| Cap Rate | 8.95% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.65 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1940 |
| Property Type | Multifamily | Parking Ratio | 1.75/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | $825,000 |
| Price Per Unit | $137,500 |
| Sale Type | Investment |
| Cap Rate | 8.95% |
| Gross Rent Multiplier | 8.65 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 4,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1940 |
| Parking Ratio | 1.75/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
1 1
Walk Score®
Very Walkable (74)
Property Taxes
| Parcel Number | 0478-223-11 | Improvements Assessment | $624,240 |
| Land Assessment | $104,040 | Total Assessment | $728,280 |
Property Taxes
Parcel Number
0478-223-11
Land Assessment
$104,040
Improvements Assessment
$624,240
Total Assessment
$728,280
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Presented by
Burton Apartment Realtors
29.14% CASH ON CASH AT MARKET RENTS!! | 15563-15575 5th St
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