22526 Sioux Road

    Apple Valley, CA 92308
    • $3,750,000
    • STATUS: Active
    • ON SITE: 91 days
    • ID#: NP19195372
    UPDATED: 30 min ago
    $3,750,000
    • 0
      BEDS
    • 4.03
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 38,280
      SQFT
    • $98
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1986
    County:

    School Ratings & Info

    Description

    Cash Flow Property, built in 1986 on roughly 4.03 acres, the Apple Valley TownHomes offers an investor the opportunity to acquire an asset with huge value add potential as current rents are approximately 20% below market. Priced at $98,684 on a per unit basis and a price per square foot of $97.96, there is a potential to achieve over a 7% cap rate and a gross rent multiplier of 8.5 with a substantial cash on cash return on investment. The property features sixteen (3 Bedroom + 1.5 Bathroom Townhomes), nineteen (2 Bedroom + 1.5 Bathroom Townhomes) and three (1 Bedroom 1 Baths). Tenant amenities include individual water heaters, central A/C and heat, large patios, a central common area, and assigned garages and car spaces.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-15T18:32:22.357. 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/97994869

    22526 Sioux Road Apple Valley, CA 92308

    • Price: $3,750,000
    • Status: Active
    • Updated: 30 min ago
    • ID#: NP19195372
    0
    Beds
    0
    Baths
    0
    ½ Baths
    4.03
    Acres
    38,280
    SQFT
    $98
    $/SQFT
    1986
    Built
    Neighborhood:
    APPV - Apple Valley
    County:
    San Bernardino
    Area:
    APPV - Apple Valley
    Property Description
    Cash Flow Property, built in 1986 on roughly 4.03 acres, the Apple Valley TownHomes offers an investor the opportunity to acquire an asset with huge value add potential as current rents are approximately 20% below market. Priced at $98,684 on a per unit basis and a price per square foot of $97.96, there is a potential to achieve over a 7% cap rate and a gross rent multiplier of 8.5 with a substantial cash on cash return on investment. The property features sixteen (3 Bedroom + 1.5 Bathroom Townhomes), nineteen (2 Bedroom + 1.5 Bathroom Townhomes) and three (1 Bedroom 1 Baths). Tenant amenities include individual water heaters, central A/C and heat, large patios, a central common area, and assigned garages and car spaces.
    Exterior Features

    Garage Spaces 14.00 Lot Features 6-10 Units/AcreCorner Lot Lot Size Source Assessor Lot Size Units Acres Parking Total 79.00 Pool Features Community 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 Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes Laundry Features Community

    Property Features

    Additional Parcels Description 043939239 Additional Parcels YN No Building Area Units Square Feet Community Features Rural Country Us Electric Expense 1015.00 Elevation Units Feet Fuel Expense 400.00 Gardener Expense 1800.00 Gross Income 356460.00 Gross Operating Income 342202.00 Gross Scheduled Income 356460.00 Insurance Expense 12160.00 Land Lease YN No Laundry YN Yes Maintenance Expense 17640.00 Net Operating Income 210018.00 New Construction YN No New Taxes Expense 43125.00 Number Of Separate Electric Meters 39 Number Of Separate Gas Meters 39 Number Of Separate Water Meters 2 Number Of Units Leased 38 Operating Expense 134584.00 Operating Expense Percent 39.00 Other Expense 15960.00 Other Expense Description Mnger Professional Management Expense 13688.00 Rent Control YN No Senior Community YN No Sewer Septic Type Unknown Special Listing Conditions Standard Total Actual Rent 29705.00 Total Expenses 134584.00 Trash Expense 9232.00 Vacancy Allowance 14258 Vacancy Allowance Rate 4.00 Water Sewer Expense 19564.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Ignacio Diaz Jr. of Investment Capital Real Estate


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-11-15T18:32:22.357. 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.
     
    California Realty Experts
    28693 Old Town Front St. Suite300-G
    Temecula CA, 92590