11211 La Habra Avenue, Adelanto, CA 92301

$3,995,000
28,728
SqFt
List Price
$3,995,000
Status
ACTIVE
MLS#
IV20153266
Year Built
1988
Living Sq. Ft
28,728
Lot Size
88,383
Acres
2.029
Lot Location
21-25 Units/Acre, Lot Over 40000 Sqft
Days on Market
13
Property Type
Multifamily
Stories
One Level

Property Description

Please contact Le Investment Group for full offering memorandum. Drive by only please do not disturb the tenants. Thank you. Attractive Current CAP Rate of 7.03% With ProForma CAP Rate of 7.48%. Current GRM of 8.30, ProForma GRM of 7.93. Property is Located in the Opportunity Zone. This provides eligible investors with favorable long term tax benefits. Single Story, Covered Parking, Central A/C, Onsite Laundry Available, Private Patio for the Tenants. 30 Units Renovated to include paint, flooring, A/C, and water heaters. The Desert Oasis Apartments are located on the corner lot of La Habra Avenue and Bellflower Street. This single story apartment building is placed on a 2.03-acre lot and is composed of (24) 1 Bedroom, 1 Bath units and (24) 2 Bedroom, 1 Bath Units. The tenants are provided with secure onsite covered parking as well as access to the laundry facilities. The owner has renovated 30 of the 48 units to include new flooring, paint, water heaters and A/C units. 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.

Additional Information

Tract Number
n/a
Lot Description
Sidewalks
Pool Description
None
Cooling
Yes
Cooling Description
Central Air, Wall/Window Unit(s)
View
Desert
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
48
Gross Scheduled Income
$504,000
Operating Expense
187605
Unit One Total Units
24
Unit One Beds
1
Unit One Baths
1
Unit One Actual Rent
800.00
Unit One Total Rent
18100.00
Unit One Pro Forma
19200
Unit One Furnished
Unfurnished
Unit Two Total Units
24
Unit Two Beds
2
Unit Two Baths
1
Unit Two Actual Rent
950.00
Unit Two Total Rent
22000.00
Unit Two Pro Forma
22800
Unit Two Furnished
Unfurnished

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of ALBERT LE from LE INVESTMENT GROUP

Based on information from California Regional Multiple Listing Service, Inc. as of . 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.