RECENT PRICE IMPROVEMENT - 6.27% CAP RATE 7-Units + Single family home on separate APN. The property consists of a total of Five (5) separate APNs. 526-031-16, 526-031-17, 526-031-18, 526-031-19, & 526-031-006. Highlights: Strong yield with a current CAP Rate of 6.27% with a Pro Forma CAP Rate of 7.08% achievable through market rent adjustments / Current GRM of 10.27 with a Pro Forma GRM of 9.15. Community located at 50292–50330 Ramona Street, a well-located eight-unit multifamily property in Cabazon, California. Built in 1950, this single-story asset consists of seven detached buildings situated on a generous 0.72-acre lot, offering approximately 5,750 square feet of rentable living area. The unit mix features a variety of layouts well-suited for tenants seeking affordability and privacy, including five (5) one-bedroom one-bath units, one (1) two-bedroom one bath unit, one (1) two-bedroom one-bath single-family residence, and one (1) three-bedroom one-and-a-half-bath single-family residence. Most units are detached, providing residents with a more residential feel and reduced density compared to typical multifamily properties. Each unit is separately metered for gas and electricity, minimizing owner-paid utilities.
Cabazon is located in California. Cabazon, California has a population of 2,264. Cabazon is less family-centric than the surrounding county with 21.9% of the households containing married families with children. The county average for households married with children is 35.14%.
The median household income in Cabazon, California is $65,952. The median household income for the surrounding county is $76,066 compared to the national median of $69,021. The median age of people living in Cabazon is 32.8 years.
The average high temperature in July is 98.4 degrees, with an average low temperature in January of 37.1 degrees. The average rainfall is approximately 12.3 inches per year, with 0 inches of snow per year.
