21225 Wigwam Street

    Apple Valley, CA 92307
    • $589,888
    • STATUS: Active
    • ON SITE: 148 days
    • ID#: IV19096154
    UPDATED: 6 min ago
    $589,888
    • 0
      BEDS
    • 0.64
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,600
      SQFT
    • $105
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1959
    County:

    School Ratings & Info

    Description

    Investment Highlights: Offering Actual CAP Rate of 6.76 % / ProForma CAP Rate of 7.37 %. Offering Actual GRM of 8.96, With a ProForma GRM of 8.19. Conservative 5-7 % Upside in Potential Rental Income. Located 8 Minutes From St. Mary+GGs Medical Center Hospital. Recent Capital Improvements. Non-Rent Control Community & Area. Long Term Tenants With Upside in Potential Rental Income. The Apartment is 100 % Occupied & Rental Comparables Illustrate a 99 % Occupancy Area. The 21225 Wigwam apartments are located on the corner lot of Dale Evans Parkway and Wigwam Road. This large 0.64 acre lot has great visibility from Highway 18 and the 15 freeway. The Property has accessible onsite parking in the front. This six unit apartment community is composed of all 2 bedroom / 1 bedroom units that are approximately 933 Sq. Ft. The property has recent improvements and is 100% occupied. This apartment community has been well maintained throughout ownership. The current owner does updates and improvements on a scheduled basis. The repairs and maintenance of the property and ground have been done as necessary, on time, & without deferring maintenance. The condition of the property offers prospective buyers an asset that will require very minimal maintenance for decades to come.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-22T00:38:50.49. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or California Realty Experts. Licensed in the State of California, USA.
    www.californiarealtyexperts.com/homes/94124582

    21225 Wigwam Street Apple Valley, CA 92307

    • Price: $589,888
    • Status: Active
    • Updated: 6 min ago
    • ID#: IV19096154
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.64
    Acres
    5,600
    SQFT
    $105
    $/SQFT
    1959
    Built
    Neighborhood:
    APPV - Apple Valley
    County:
    San Bernardino
    Area:
    APPV - Apple Valley
    Property Description
    Investment Highlights: Offering Actual CAP Rate of 6.76 % / ProForma CAP Rate of 7.37 %. Offering Actual GRM of 8.96, With a ProForma GRM of 8.19. Conservative 5-7 % Upside in Potential Rental Income. Located 8 Minutes From St. Mary+GGs Medical Center Hospital. Recent Capital Improvements. Non-Rent Control Community & Area. Long Term Tenants With Upside in Potential Rental Income. The Apartment is 100 % Occupied & Rental Comparables Illustrate a 99 % Occupancy Area. The 21225 Wigwam apartments are located on the corner lot of Dale Evans Parkway and Wigwam Road. This large 0.64 acre lot has great visibility from Highway 18 and the 15 freeway. The Property has accessible onsite parking in the front. This six unit apartment community is composed of all 2 bedroom / 1 bedroom units that are approximately 933 Sq. Ft. The property has recent improvements and is 100% occupied. This apartment community has been well maintained throughout ownership. The current owner does updates and improvements on a scheduled basis. The repairs and maintenance of the property and ground have been done as necessary, on time, & without deferring maintenance. The condition of the property offers prospective buyers an asset that will require very minimal maintenance for decades to come.
    Exterior Features

    Garage Spaces 0.00 Lot Features 6-10 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 6.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 933 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central AirWall/Window Unit(S) Cooling YN Yes Laundry Features Inside Levels One

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 7.37 Community Features Suburban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gardener Expense 2750.00 Gross Income 72000.00 Gross Multiplier 8.19 Gross Scheduled Income 72000.00 Insurance Expense 2150.00 Land Lease YN No Laundry YN Yes Maintenance Expense 3492.00 Net Operating Income 43497.00 New Construction YN No New Taxes Expense 6262.00 Number Of Separate Electric Meters 6 Number Of Separate Gas Meters 6 Number Of Separate Water Meters 1 Operating Expense 26447.00 Other Expense 2399.00 Professional Management Expense 2794.00 Rent Control YN No Senior Community YN No Sewer Conventional Septic Special Listing Conditions Standard Tenant Pays All Utilities Total Expenses 26343.00 Trash Expense 1800.00 Vacancy Allowance 2160 Water Sewer Expense 4800.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Albert Le of Le Investment Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-09-22T00:38:50.49. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or California Realty Experts. Licensed in the State of California, USA.
     
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