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619 E Ridgecrest Blvd 9 Unit Apartment Building $825,000 ($91,667/Unit) 7.65% Cap Rate Ridgecrest, CA 93555
Investment Highlights
- Central location
- Close to front and back gate of NAWS China Lake
Executive Summary
Public Remarks:
This well-positioned apartment complex is also just 3.5 miles from NAVAIR China Lake, 5 miles from Cerro Coso Community College, and minutes from schools, shopping, dining, and everyday conveniences. The property offers a desirable unit mix of five 2-bedroom apartments and four 1-bedroom apartments. Select units feature balconies or small fenced backyard spaces, adding to resident appeal. The property is currently undergoing revitalization to enhance its overall appearance; several units have already been updated with modern finishes including luxury vinyl plank flooring, quartz countertops, and premium fixtures. Additional units have been upgraded within the past decade, and the remaining apartments offer an excellent opportunity for further value-add improvements. With strong income potential and returns that exceed those commonly found in today's market, this property presents an exceptional investment opportunity. Whether you're an experienced investor looking to expand your portfolio with a high-yield asset or a new investor seeking an attractive entry into the market, this apartment complex offers outstanding upside and long-term potential.
This well-positioned apartment complex is also just 3.5 miles from NAVAIR China Lake, 5 miles from Cerro Coso Community College, and minutes from schools, shopping, dining, and everyday conveniences. The property offers a desirable unit mix of five 2-bedroom apartments and four 1-bedroom apartments. Select units feature balconies or small fenced backyard spaces, adding to resident appeal. The property is currently undergoing revitalization to enhance its overall appearance; several units have already been updated with modern finishes including luxury vinyl plank flooring, quartz countertops, and premium fixtures. Additional units have been upgraded within the past decade, and the remaining apartments offer an excellent opportunity for further value-add improvements. With strong income potential and returns that exceed those commonly found in today's market, this property presents an exceptional investment opportunity. Whether you're an experienced investor looking to expand your portfolio with a high-yield asset or a new investor seeking an attractive entry into the market, this apartment complex offers outstanding upside and long-term potential.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $825,000 | Apartment Style | Low-Rise |
| Price Per Unit | $91,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 7.65% | Building Size | 6,730 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment | Parking Ratio | 1.48/1,000 SF |
| Zoning | R-4 | ||
| Price | $825,000 |
| Price Per Unit | $91,667 |
| Sale Type | Investment |
| Cap Rate | 7.65% |
| Sale Condition | 1031 Exchange |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 6,730 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 1.48/1,000 SF |
| Zoning | R-4 |
Amenities
Unit Amenities
- Air Conditioning
- Refrigerator
- Satellite TV
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $850.00 | 625 - 650 |
| 2+1 | 2 | $872.50 | 800 - 850 |
| 2+2 | 2 | $997.50 | 925 - 950 |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 080-051-01-00-9 | Total Assessment | $499,045 (2026) |
| Land Assessment | $40,617 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $458,428 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
080-051-01-00-9
Land Assessment
$40,617 (2026)
Improvements Assessment
$458,428 (2026)
Total Assessment
$499,045 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Contact the Sale Advisor
619 E Ridgecrest Blvd