We are pleased to present this 5-unit apartment community located at 11811 167th St in Artesia. This opportunity is priced at a 5.61% CAP and a 11.02 GRM on current rents, with potential upside to a 8.21% CAP and a 8.41 GRM on pro-forma rents. There are 2 separate buildings located on the property, situated on a large 10,813 sf lot offering ample onsite parking as well as the potential addition for ground up ADUs. The unit mix consists of 1 three-bedroom unit and 4 Studio units, all of which have been renovated. This opportunity offers easy freeway access as it is situated just north of the 91 freeway and in close proximity to the 605 freeway. Local retailers and restaurants include Walgreens, 99 Ranch Market, Ozen Sushi, Three Amigos Mexican, El Cortez Meat Market, Surawon Korean BBQ and 808 Local Hawaiian Grill.
Artesia is located in California. Artesia, California has a population of 16,390. Artesia is less family-centric than the surrounding county with 30.26% of the households containing married families with children. The county average for households married with children is 30.99%.
The median household income in Artesia, California is $83,321. The median household income for the surrounding county is $76,367 compared to the national median of $69,021. The median age of people living in Artesia is 38.4 years.
The average high temperature in July is 80.7 degrees, with an average low temperature in January of 46.4 degrees. The average rainfall is approximately 13.5 inches per year, with 0 inches of snow per year.
