7595 Kickapoo

    Yucca Valley, CA 92284
    • $1,600,000
    • STATUS: Active
    • ON SITE: 93 days
    • ID#: IV18197971
    UPDATED: 24 min ago
    $1,600,000
    • 0
      BEDS
    • 1.25
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,584
      SQFT
    • $103
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1988
    County:

    School Ratings & Info

    Description

    Property Highlights; 5 Units Completely Renovated.+G- The Improvements Include: New Appliances, Paint, Flooring, Fixtures, and A/C units.Competitive Offering Actual CAP Rate of 6.18 %, ProForma CAP Rate of 7.74 % +G-ProForma CAP Rate Based on Increasing Rents to Current Market Rental Rates., Offering Actual GRM of 10.50, With a ProForma GRM of 8.77, $200,000+ in Capital Improvements Completed Between 2017-2018. +G-The Improvements Include: New Roofing, HVAC Systems, Garage Door Replacements, Septic Tank, 5 Units Fully Rehabilitated, New Plumbing & Electrical Fixtures as Necessary. Occupied With Long Term Tenants, Conservative 7% -10% Upside in Potential Rental Income. Rental Comparables Illustrate a 98 % Occupancy Area. +G-Rental Survey Completed 07/03/2018, Pride Of Ownership, Absolute Turn Key, Financeable Asset. The Chelsey Court Apartment community is a true pride of ownership property, owned and operated by the same owner. Located on a large 1.25 acre lot. The property is composed of twelve 3-bedroom 2-bathroom units (1,260 sq. ft.) and one 1-bedroom 1-bathroom (464 sq. ft.). All units include: central air and heating, washer and dryer hook-ups, walk-in closets, and 1-2 car garages. The owner has invested over $200k in capital expenditures that include: a new roof, garage doors, septic tank, plumbing, new fixtures, A/C units, toilets, new appliances, and 5 completely renovated units. This asset is situated near Joshua Tree National park.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-18T09:29:00.23. 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.fredsedgroup.com/homes/86607809

    7595 Kickapoo Yucca Valley, CA 92284

    • Price: $1,600,000
    • Status: Active
    • Updated: 24 min ago
    • ID#: IV18197971
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.25
    Acres
    15,584
    SQFT
    $103
    $/SQFT
    1988
    Built
    Neighborhood:
    DC521 - Central West
    County:
    San Bernardino
    Area:
    DC521 - Central West
    Property Description
    Property Highlights; 5 Units Completely Renovated.+G- The Improvements Include: New Appliances, Paint, Flooring, Fixtures, and A/C units.Competitive Offering Actual CAP Rate of 6.18 %, ProForma CAP Rate of 7.74 % +G-ProForma CAP Rate Based on Increasing Rents to Current Market Rental Rates., Offering Actual GRM of 10.50, With a ProForma GRM of 8.77, $200,000+ in Capital Improvements Completed Between 2017-2018. +G-The Improvements Include: New Roofing, HVAC Systems, Garage Door Replacements, Septic Tank, 5 Units Fully Rehabilitated, New Plumbing & Electrical Fixtures as Necessary. Occupied With Long Term Tenants, Conservative 7% -10% Upside in Potential Rental Income. Rental Comparables Illustrate a 98 % Occupancy Area. +G-Rental Survey Completed 07/03/2018, Pride Of Ownership, Absolute Turn Key, Financeable Asset. The Chelsey Court Apartment community is a true pride of ownership property, owned and operated by the same owner. Located on a large 1.25 acre lot. The property is composed of twelve 3-bedroom 2-bathroom units (1,260 sq. ft.) and one 1-bedroom 1-bathroom (464 sq. ft.). All units include: central air and heating, washer and dryer hook-ups, walk-in closets, and 1-2 car garages. The owner has invested over $200k in capital expenditures that include: a new roof, garage doors, septic tank, plumbing, new fixtures, A/C units, toilets, new appliances, and 5 completely renovated units. This asset is situated near Joshua Tree National park.
    Exterior Features

    Garage Spaces 26.00 Lot Features 11-15 Units/AcreSprinkler System Lot Size Source Assessor Lot Size Units Square Feet Parking Features AssignedGarage - Two Door Parking Total 26.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area 464 Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area 1260 Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central Cooling YN Yes Heating Central Furnace Heating YN Yes Laundry Features CommunityInsideSee Remarks Levels Two

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 7.74 Community Features Sidewalks Country Us Electric Expense 137.28 Elevation Units Feet Gross Income 182400.00 Gross Multiplier 8.77 Gross Scheduled Income 182400.00 Insurance Expense 1918.00 Land Lease YN No Laundry YN Yes Net Operating Income 123856.00 New Construction YN No New Taxes Expense 17182.00 Number Of Separate Electric Meters 13 Number Of Separate Gas Meters 13 Number Of Separate Water Meters 1 Operating Expense 47600.00 Professional Management Expense 8573.00 Rent Control YN No Senior Community YN No Sewer Conventional Septic Special Listing Conditions Standard Total Expenses 47600.00 Trash Expense 2432.00 Utilities Natural Gas Connected Water Sewer Expense 5421.00 Water Source Public Year Built Source Assessor Zoning 92/6

    Listing provided courtesy of Albert Le of Le Investment Group.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-18T09:29:00.23. 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.
     
    Fred Sed Realty - Keller Williams
    4010 Barranca Pkwy Suite 100
    Irvine CA, 92604