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16683 Lynn Street,  Victorville CA, 92395 (Residential Income)

Status: Active
MLS#: 508387
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Last Updated: 3/19/2019 9:41 AM
Description for 16683 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
508387
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: Cluster, 1 Story
0.69 Acres $124.74 1958
Yes-3 spaces 1 Other Construction
3 Total
Neighborhood
Room Information
Interior Features
Oven
A/C - Other
Other, Other
3
Furnished
Exterior / Lot Features
3 Garage Spaces, 3 Parking Spaces, Garage
Other
Desert View
0
Residential 3
Paved Road
Financial Considerations
0478083220000
$0
$0
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: Jerrad Schendel - Coldwell Banker Commercial Real Estate Solutions
This content last refreshed on 3/19/2019 9:41 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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