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16687 Lynn Street,  Victorville CA, 92395 (Commercial)

Status: Active
MLS#: 511698
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Last Updated: 4/20/2019 10:35 AM
Description for 16687 Lynn Street Victorville, CA 92395
The Basen-Schendel team is proud to present an investment opportunity for the portfolio of two properties consisting of six units on two separate parcels. Each parcel consists of 3 units making it easier for an investor to come into the property with less capital increasing cash on cash returns. The property is fully occupied with long term tenants and low rents. Creating a value add opportunity for any potential investor. 6.33% Cap rate on owner stated utility expenses adjusted for increases in property taxes and insurance based on the new purchase price. With 3,343 units, amounting to 2.4% of the total metro inventory, the Victorville submarket is the second smallest of the sixteen distinct geographic concentrations that form the San Bernardino/Riverside apartment market, larger only than Hemet. In the ten-year period beginning with Q4 2008, there have been no additions to the submarket, and 67 units were removed from the inventory of market rate rentals. The net total loss of 67 apartments equates to an annualized inventory growth rate of -0.2%; by contrast, the annualized growth rate for the metro over the same period was 0.6%.
Price
$360,000
San Bernardino
511698
Active
Description
The Basen-Schendel team is proud to present an investment opportunity for the portfolio of two properties consisting of six units on two separate parcels. Each parcel consists of 3 units making it easier for an investor to come into the property with less capital increasing cash on cash returns. The property is fully occupied with long term tenants and low rents. Creating a value add opportunity for any potential investor. 6.33% Cap rate on owner stated utility expenses adjusted for increases in property taxes and insurance based on the new purchase price. With 3,343 units, amounting to 2.4% of the total metro inventory, the Victorville submarket is the second smallest of the sixteen distinct geographic concentrations that form the San Bernardino/Riverside apartment market, larger only than Hemet. In the ten-year period beginning with Q4 2008, there have been no additions to the submarket, and 67 units were removed from the inventory of market rate rentals. The net total loss of 67 apartments equates to an annualized inventory growth rate of -0.2%; by contrast, the annualized growth rate for the metro over the same period was 0.6%.
Listing Information
Property Type: Other, 1 Story
0.69 Acres $124.74 1958
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Neighborhood
Room Information
Interior Features
A/C - Other
Other, Other
3
Exterior / Lot Features
None
0
Residenti>
Other
Financial Considerations
0478083200000
Listing Price History

Victorville Real Estate

Victorville is located in California. Victorville, California 92395 has a population of 122,225.

The median household income in Victorville, California 92395 is $47,142. The median household income for the surrounding county is $54,100 compared to the national median of $53,482. The median age of people living in Victorville 92395 is 29 years.

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Courtesy: Robert Basen - Coldwell Banker Commercial Real Estate Solutions
This content last refreshed on 4/20/2019 10:35 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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