You will have to come in with some cash, maybe up to 50% as Banks won't appraise as total rents are higher than market rents. Still upside as one of the 2br are at $800 a month vs $1600. To be open and honest about it, the building can use some TLC, but the cash flow is there it makes up for it. 7.51 CAP rate. $700,000 buy price will make you $5,779 a month or $69,348 a year that is a 9.9% gross return. If you want to make a good return on your cash, then this property is for you. Very few properties out there making this high of a return.
Great income producing property for sale in the high desert. Fully Occupied. This property is very unique. Four units on a very large corner lot. Single story. Unit #1 & 2 were remodeled in 2022 while Unit # 3 & 4 were remodeled in 2016. There is laundry hook up in the garage. Tile flooring on the inside for better durability compared to most carpet floors. Each unit has its own garage and yard space. It features three driveways for easy ingress & egress. Nearby the 395 which is a major highway. In the past property was also known as 11192 Crippen Ave. Realist Tax Records show the lot size to be 36,300 square feet which is incorrect. The lot size is estimated to be approximately 10,000 square feet. Income & Expense Information Are Pro Forma.
There are two houses on the 3.65-acre lot, each featuring 2 bed and 1 bath with approximately 840 sq.ft. of space each. The property has a reliable water supply from its own well. Currently, the rent is below market rates. The owners, who are retiring and relocating, are offering the property for sale. Situated in an ADD zoning (Airport Development District), prospective buyers and their agents can inquire with the city about potential alternative uses for the property. This presents an excellent opportunity to acquire and retain the property for future development.
Courtesy: Realty One Group Roads
EXCELLENT INCOME OPPORTUNITY! Come and take a look at this property located in growing and increasing developing City of Adelanto. A short drive to Spring Valley Lake and The Mall of Victorville. This 3 unit property was recently renovated. Lot size of almost an acre is plenty of room to build more units or storage or parking.
Adelanto is located in California. Adelanto, California has a population of 32,867. Adelanto is more family-centric than the surrounding county with 35.63% of the households containing married families with children. The county average for households married with children is 35.18%.
The median household income in Adelanto, California is $34,446. The median household income for the surrounding county is $57,156 compared to the national median of $57,652. The median age of people living in Adelanto is 27.5 years.
The average high temperature in July is 98.5 degrees, with an average low temperature in January of 31.7 degrees. The average rainfall is approximately 17.4 inches per year, with 0.6 inches of snow per year.
