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Listed by 909-645-0443 - Kristopher German - DRE #01800021 - RE/MAX 2000 REALTY 626-956-0188

$850,000

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15563 5th Street Victorville, CA 92395

Apartment Residence

Beds

Baths

3,319 Sq. Ft.

0.16 Acre Lot

Property Activity

Time on Site

days

Days on Market

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Last updated on 9/27/2024 6:19 AM

Listing Details

We are pleased to exclusively offer for sale this well maintained asset that boasts a strong Cap Rate on current financials with a tremendous upside opportunity in rents. 15563 E. 5th Street offers a diverse mix of units: one spacious 2-bed/1-bath stand-alone cottage, three additional 2-bed/1-bath u...nits, and two cozy 1-bed/1-bath units. The property offers ample on-site parking for tenants, and each unit is separately metered for electricity and gas, ensuring streamlined management and utility costs. A dedicated laundry facility, currently not in use, adds potential value. Recently, over $70,000 has been invested in capital improvements, enhancing the property’s appeal and functionality. With a current GRM of 10.12 and a cap rate of 6.86%, this asset promises stable cash flow and requires minimal maintenance. The city of Victorville, with a median household income of approximately $55,000, provides an affordable living environment for its residents. The city has experienced a moderate historical vacancy rate for apartments, indicating a steady demand for rental housing. Tenants are attracted to Victorville for its convenient access to major highways, diverse shopping options, and growing community amenities, making it an ideal place to call home. Continue reading

MLS#

CV24175181

Property Type

Apartment

Status

Year Built

1940

Square Feet

3,319 sq. ft

Lot Size

0.16

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