17935 Quantico Road

    Apple Valley, CA 92307
    • $2,195,000
    • STATUS: Active
    • ON SITE: 104 days
    • ID#: SB19001881
    UPDATED: 116 min ago
    $2,195,000
    • 0
      BEDS
    • 0.76
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 20,800
      SQFT
    • $106
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1972
    County:

    School Ratings & Info

    Description

    Riverview Apartments consists of (16) 2 Bd/2Ba units and (4) 3 Bd/2 Ba townhouse style units. The units average over 1,000 sq. ft., and all units have a large balcony or patio. The 2 Bd/2 Ba units also include a tub and kitchen pantry. The building features a large courtyard and newly renovated pool. Each unit has 1 car port space, which includes a lockable storage unit, and there is ample open parking on site. At the list price, the going in cap rate is 6.10% (based on the 2017 Actual Collected Income). There is significant rent upside achieved by bringing the rents to market, as well as an extremely high occupancy history. The property (approximately 7 miles from Victorville) boasts amazing views of the valley and the San Bernardino Mountains. The below rents are based off the current average rent/unit for the 2 Bd/2 Ba and 3 Bd/2 Ba units.The full Offering Memorandum is included as an attachment to this listing.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-19T13:34:57.453. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/90613791

    17935 Quantico Road Apple Valley, CA 92307

    • Price: $2,195,000
    • Status: Active
    • Updated: 116 min ago
    • ID#: SB19001881
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.76
    Acres
    20,800
    SQFT
    $106
    $/SQFT
    1972
    Built
    Neighborhood:
    APPV - Apple Valley
    County:
    San Bernardino
    Area:
    APPV - Apple Valley
    Property Description
    Riverview Apartments consists of (16) 2 Bd/2Ba units and (4) 3 Bd/2 Ba townhouse style units. The units average over 1,000 sq. ft., and all units have a large balcony or patio. The 2 Bd/2 Ba units also include a tub and kitchen pantry. The building features a large courtyard and newly renovated pool. Each unit has 1 car port space, which includes a lockable storage unit, and there is ample open parking on site. At the list price, the going in cap rate is 6.10% (based on the 2017 Actual Collected Income). There is significant rent upside achieved by bringing the rents to market, as well as an extremely high occupancy history. The property (approximately 7 miles from Victorville) boasts amazing views of the valley and the San Bernardino Mountains. The below rents are based off the current average rent/unit for the 2 Bd/2 Ba and 3 Bd/2 Ba units.The full Offering Memorandum is included as an attachment to this listing.
    Exterior Features

    Garage Spaces 20.00 Lot Features 16-20 Units/AcrePaved Lot Size Source Assessor Lot Size Units Square Feet Parking Features AsphaltGarage Parking Total 60.00 Parking YN Yes Pool Features Private Pool Private YN Yes Property Attached YN Yes View Mountain(S)Valley View YN Yes

    Interior Features

    Appliances DishwasherElectric Cooktop Appliances YN Yes Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Interior Features BalconyPantry Laundry Features Individual Room Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Community Features FoothillsSuburban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 217353.00 Gross Operating Income 217353.00 Gross Scheduled Income 217353.00 Insurance Expense 0.00 Land Lease YN No Laundry YN Yes Net Operating Income 133853.00 New Construction YN No New Taxes Expense 25243.00 Number Of Separate Electric Meters 20 Number Of Separate Gas Meters 20 Number Of Separate Water Meters 1 Number Of Units Leased 20 Number With Range 20 Operating Expense 83500.00 Professional Management Expense 12868.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 83500.00 Trash Expense 0.00 Vacancy Allowance Rate 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Martin Ensbury of Keller Williams Beach Cities and Nicholas Galvan of Keller Williams Beach Cities


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-19T13:34:57.453. 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 deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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