15563-15575 5Th St, Victorville, CA 92395
6 Unit Apartment Building | $850,000 ($141,667/Unit) | 6.86% Cap Rate | Victorville, CA 92395
For Sale
Active
Asking Price $850,000
- Property Type
-
Multifamily
- Square Feet
- 3,319 SF
Listing Contacts
Kristopher German
Deepen Shah
- Property Info
Property Overview
Kristopher German and Deepen Shah of The Apartment Dealer 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.
Property Details
- Class
- C
- Year Built
- 1940
- Stories
- 2
- Lot Size (sq. ft)
- 6,970 SF
- Units
- 6
Highlights
- ONLY $140,000 PER UNIT!
- (1) 2-Bed/1-Bath Stand-Alone Cottage, (3) 2-Bed/1-Bath & (2) 1-Bed/1-Bath Units
- Plenty of On-Site Parking Available for Tenants | Separately Metered for Electricity & Gas
- Laundry Facility Available for Tenants (currently not in use)
- Over $70,000 in Capital Improvements Within Past Year
- 6.86% Current Cap Rate! | 10.12 Current GRM | Stable Cash-Flowing Asset with Minimal Maintenance!
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