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Josma Drive Apartments 26650 Chipeta Rd 6 Unit Apartment Building $899,000 ($149,833/Unit) 6.35% Cap Rate Apple Valley, CA 92307
Investment Highlights
- Fully Occupied & Stable Income: 100% occupancy ensures immediate, consistent cash flow for the investor.
- Owner Expense Minimization: Electric service is direct-metered and paid by tenants, significantly reducing the owner's operating expenses.
- Prime Location & Connectivity: Strategically located near major freeways and just miles from the Apple Valley Airport, offering residents easy access
Executive Summary
Martinez & Associates is proud to present Josma Road Apartments, a fully occupied, 6-unit investment property located at 26650 Josma Rd in Apple Valley, CA. This stable asset is situated on a spacious 1.3 acre lot and offers a consistent income stream for the savvy investor, featuring an attractive 6% Cap Rate and $57,040 NOI based on the provided sale details. The property's operational efficiency is enhanced by tenants paying for their own direct-metered electric. Furthermore, the property benefits from highly effective management and is strategically located for future appreciation.
Property Facts
| Price | $899,000 | Apartment Style | Low-Rise |
| Price Per Unit | $149,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.30 AC |
| Cap Rate | 6.35% | Building Size | 56,628 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1956/2023 |
| Zoning | RE | ||
| Price | $899,000 |
| Price Per Unit | $149,833 |
| Sale Type | Investment |
| Cap Rate | 6.35% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.30 AC |
| Building Size | 56,628 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1956/2023 |
| Zoning | RE |
Amenities
Unit Amenities
- Air Conditioning
- Tile Floors
- Double Pane Windows
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $900.00 | 400 |
| 1+1 | 4 | $1,250 | 650 |
| 2+1 | 1 | $1,475 | 750 |
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Property Taxes
| Parcel Number | 0437-611-07 | Improvements Assessment | $519,568 |
| Land Assessment | $32,473 | Total Assessment | $552,041 |
Property Taxes
Parcel Number
0437-611-07
Land Assessment
$32,473
Improvements Assessment
$519,568
Total Assessment
$552,041
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Josma Drive Apartments | 26650 Chipeta Rd
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