15521 4th

Description

SEE APPRAISAL! SEE APPRAISAL!This Offering is 6 units in Victorville.Victorville is one of 3 major cities in Upper Desert. We're located 25 miles N/O San Bernardino. The Upper Desert comprises of 500,000+/- people & has all major retail/office businesses. Major cities are Victorville, Apple Valley, & Hesperia. The Upper Desert multifamily market is very strong, low crime, attractive neighborhoods, and low vacancy rates! This Offering is located on E/S of Victorville, the most desirable area of Victorville, located adjacent to the most prestigious area of Upper Desert, Desert Knolls.Offering consists of one 3 bedrooms 2 baths, and five 1 bedrooms 1 baths. All units have separately metered gas/electric that tenants sign up and pay for. There are not other common area expenses, & landlord pays water and trash. All expenses are in SUPPLEMENTS attached.This complex has the following fine amenities.*Newer roofs*Updated plumbing/electric*Newer tile floors*Updated appliances*Updated cabinetry*All units have been rehabbed.*Laundry room.*Laundry hook ups.*Private tenant yards.* 15 parking stalls*Ceiling fans throughout.*Beautiful low maintenance/cost landscaping.Complex heated by wall furnace & cooled by window AC's & swamp coolers. no need for landlord worrying about high cost replacement of AC's, & no need TENANT affording summer time cooling. Running a swamp cooler is like running a light bulb!!All tenants are in good standing and always pay rent on time!COMPLEX REALLY PERFORMS! PLEASE SEE THE FOLLOWING GREAT RETURNS AT ACTUAL AND MARKET RENTS:At actual rents, WE'RE PERFORMING AT A POSITIVE CASH FLOW! We're putting out an annual gross income of $92,460, a 9.94 Gross Rent Multiplier, a 9.13% Cap Rate, and a double digit 13.76% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $25,295 ANNUALLY!!!At market rents, WE'RE POSITIVE CASH FLOW ON STERIODS! We're putting out an annual gross income of $112,800, a 8.15 Gross Rent Multiplier, a 10.32% Cap Rate, and AN EYEOPENING ROBUST 24.73% Cash on Cash return, or aka, A POSITIVE CASH FLOW OF $45,455 ANNUALLY!!!All financials, rent roll, rent comps, and income/ expenses, are located in SUPPLEMENTS attached.This multifamily has one of the highest returns in So Cal!SELLER IS MOTIVATED & READY TO DEAL!WE WENT INTO ESCROW RIGHT AFTER LISTING. BUYER DIDN'T QUALIFY BUT APPRAISAL WAS DONE & ATTACHED IN SUPPLEMENTS. APPRAISED FOR $925,000!!! MORE THAN OUR ASKING PRICE!!