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$1,300,000
Est. payment /mo
0.47 Acres Lot
UPDATED:
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID IV26222732
HOA Y/N No
Year Built 1985
Lot Size 0.467 Acres
Property Sub-Type Apartment
Property Description
Excellent eight-unit multifamily investment opportunity located at 16395 Village Drive in Victorville, CA. Offered at $1,300,000 ($162,500 per unit), the property features an attractive 7.07% current CAP rate with upside to a 7.39% pro forma CAP rate. Built in 1985, the property consists of two residential buildings totaling approximately 5,460 rentable square feet on a 0.47-acre lot. The desirable unit mix consists entirely of eight 2-bedroom/1-bathroom units, each averaging approximately 675 square feet. The property generates $144,000 in annual scheduled rental income, with potential to increase to $148,800 at projected market rents. Additional features include onsite parking, covered carports, air conditioning, and stucco construction. Conveniently located near Interstate 15, Southern California Logistics Airport, shopping, dining, and major employment centers throughout the Victor Valley. An attractive opportunity to acquire an established income-producing multifamily asset with strong in-place cash flow, rental upside, and long-term investment potential.
Location
State CA
County San Bernardino
Area Vic - Victorville
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Sidewalks
Private Pool No
Building
Lot Description Yard
Story 2
Entry Level Two
Sewer Septic Tank
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 0395062120000
Energy Description 3000.0
Acceptable Financing Cash, Cash to New Loan, Conventional
Listing Terms Cash, Cash to New Loan, Conventional
Special Listing Condition Standard
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Listed by DARREN CORREA LE INVESTMENT GROUP 714-310-2840, DRE #02066621
Nearby School & Business
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