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15563 5Th Street

Victorville, CA 92395

$850,000

List Price

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bed Beds

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1940

calendar_month Built

Property 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.

Listing Information

List Price $850,000
Status Active
MLS CV24175181
Type Residential Income
Subtype Apartment
Year Built 1940
Lot Size 7,100
Structure Size N/A
Courtesy Of RE/MAX 2000 REALTY
Listing Agent Kristopher German DRE#01800021

Interior Features

Laundry Information
Location(s) Common Area, Inside
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A

Exterior Information

Maps

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king_bed N/A
shower N/A
straighten N/A
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Listing information courtesy of: Kristopher German, RE/MAX 2000 REALTY . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:32 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.