11875 A Avenue, Hesperia, CA 92345

$900,000
4,788
SqFt
List Price
$900,000
Status
ACTIVE UNDER CONTRACT
MLS#
IV20193837
Year Built
1984
Living Sq. Ft
4,788
Lot Size
31,494
Acres
0.723
Lot Location
6-10 Units/Acre
Days on Market
16
Property Type
Multifamily
Stories
One Level

Property Description

Attractive Current CAP Rate of 6.99%. Proforma Cap Rate of 7.98%, Offering an Actual GRM of 9.44 with a Proforma GRM of 8.17, Located Blocks From Desert Valley Hospital and Victor Valley College, Improvements to Include New Flooring, Paint, and Landscaping. The A Avenue Apartments are located at the major cross streets of Bear Valley Road and Hesperia Rd. The Property has accessible onsite parking (16 spaces) in the front. This eight unit apartment community is composed of (4) 1 bedroom / 1bath and (4) 2 bedrooms / 1 bedroom units that are approximately 520 sqft and 677 sqft. The owner has invested in recent capital improvements to include new tile flooring, paint, and landscaping. The Property is located just minutes from Desert Valley Hospital which is one of the top accredited Hospitals in the nation. The property is located blocks from major retail centers such as the Hi Desert Plaza and the Jess Ranch Marketplace. Hesperia's desert climate provides year-round access to many outdoor recreational activities. 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
5104
Lot Description
Suburban
Pool Description
None
Cooling
Yes
Cooling Description
Central Air, Wall/Window Unit(s)
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
8
Gross Scheduled Income
$110,160
Operating Expense
34745
Unit One Total Units
4
Unit One Beds
1
Unit One Baths
1
Unit One Actual Rent
3645.00
Unit One Total Rent
3645.00
Unit One Pro Forma
3980
Unit One Furnished
Unfurnished
Unit Two Total Units
4
Unit Two Beds
2
Unit Two Baths
1
Unit Two Actual Rent
4300.00
Unit Two Total Rent
4300.00
Unit Two Pro Forma
5200
Unit Two Furnished
Unfurnished

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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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.