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Rick Lee

rickjleehomes@gmail.com +1(714) 943-1598

$ 850,000

Est. payment -/mo

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Active

15563 5th ST Victorville, CA 92395

3,319 SqFt

UPDATED:

09/30/2024 06:32 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 3,319 sqft

Price per Sqft $256

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.

Location

State CA

County San Bernardino

Area Vic - Victorville

Rooms

Ensuite Laundry Common Area, Inside

Interior

Laundry Location Common Area,Inside

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

Rick Lee

Team Leader | License ID: 02130981

+1(714) 943-1598

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Rick Lee

Rick Lee

15563 5th ST Victorville, CA 92395

Key Details

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Rooms

Interior

Exterior

Building

Others

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15563 5th ST