15563 5th Street
Victorville, CA 92395
0.16 acres | #CV24175181
Description
We are pleased to exclusively offer for sale this well maintained asset that boasts a strong Cap Rate on current financials with a tremendous upside opportunity in rents. 15563 E. 5th Street offers a diverse mix of units: one spacious 2-bed/1-bath stand-alone cottage, three additional 2-bed/1-bath units, and two cozy 1-bed/1-bath units. The property offers ample on-site parking for tenants, and each unit is separately metered for electricity and gas, ensuring streamlined management and utility costs. A dedicated laundry facility, currently not in use, adds potential value. Recently, over $70,000 has been invested in capital improvements, enhancing the property’s appeal and functionality. With a current GRM of 10.12 and a cap rate of 6.86%, this asset promises stable cash flow and requires minimal maintenance.
The city of Victorville, with a median household income of approximately $55,000, provides an affordable living environment for its residents. The city has experienced a moderate historical vacancy rate for apartments, indicating a steady demand for rental housing. Tenants are attracted to Victorville for its convenient access to major highways, diverse shopping options, and growing community amenities, making it an ideal place to call home.
Property Details
- Lot DescriptionSixToTenUnitsAcre
- Stories2
Measurements
- Acres0.163
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1940
Utilities / Energy Details
- Sewer InformationPublicSewer
- Utility SourcePublic
Community and Neighborhood Details
- CountySan Bernardino
Financial Details
- Original List Price$850,000
Other
- MLS #CV24175181
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Kristopher German (#CV33418)
Listing Office: RE/MAX 2000 REALTY (#51247)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
