$825,000
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 SUPPLEMENTS attached to confirm market rents. To view rent roll, and verification of income, returns, and expenses, PLEASE SEE SUPPLEMENTS 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
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Listed by Tony Burton with Burton Commercial, Inc. (951) 375-7433
Property Type
Apartment
Status
Active
MLS Number
SW26056808
Year Built
1965
Lot Size
7,100 sq ft