$ 850,000
15563 5th ST Victorville, CA 92395
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$ 850,000
Est. payment | /mo
7,100 Sqft Lot
$ 850,000
Est. payment | /mo
7,100 Sqft Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID CV24175181
HOA Y/N No
Year Built 1940
Lot Size 7,100 Sqft
Property Description
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 units, 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.
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.
Location
State CA
County San Bernardino
Area Vic - Victorville
Interior
Fireplace No
Laundry Common Area, Inside
Exterior
Carport Spaces 1
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 7
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 0478223110000
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Kristopher German • RE/MAX 2000 REALTY • 909-645-0443
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Gregory Masi
REALTOR® | Lic# 1708321