Bought with Kristopher German • RE/MAX 2000 REALTY
$1,050,000
$1,125,000
6.7%For more information regarding the value of a property, please contact us for a free consultation.
4,896 SqFt
SOLD DATE : 10/22/2024
Key Details
Sold Price $1,050,000
Property Type Commercial
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 4,896 sqft
Price per Sqft $214
MLS Listing ID CRCV24175165
Sold Date 10/22/24
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1965
Lot Size 0.996 Acres
Property Sub-Type Other
Property Description
We are pleased to exclusively offer for sale this excellent cash flowing opportunity in the growing city of Apple Valley. Our featured multi-family property boasts a current GRM of 10.14 and an attractive cap rate of 6.89%. This well-maintained asset includes six spacious 2-bed/1-bath units spread across three charming duplex structures. Each unit benefits from single-story construction on a substantial 43,000+ sq. ft. lot, offering tenants the convenience of private 1-car garages and in-unit washer/dryer hookups. The property is individually metered for electricity and gas, ensuring clear and manageable utility costs. Additionally, the design of the units with separate garages ensures privacy with no shared walls. With the potential to build additional structures or ADUs (buyer or buyer's agent to verify with city authorities), this stable asset presents limited maintenance requirements and promising long-term returns. The city of Apple Valley, with a median household income of around $60,000, offers a balanced cost of living, making it an attractive option for residents. The city's historical vacancy rate for apartments has remained relatively low, reflecting strong demand for rental properties. Tenants are drawn to Apple Valley for its scenic desert landscapes, excellent schoo
Location
State CA
County San Bernardino
Interior
Fireplace No
Laundry Gas Dryer Hookup, Other
Building
Water Public
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