For Sale
$925,000

204 Woodham AveBarstow, CA 92311

11-Unit Apartment Building, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional value-add investment opportunity presents an 11-unit apartment building located at 204 Woodham Ave, Barstow, CA 92311, in San Bernardino County. The property, built in 1959 and renovated in 2023, boasts 3,960 square feet of net rentable space situated on a 15,130 square foot lot. The single-story building features eleven spacious studio apartments, each equipped with a full bathroom and well-equipped kitchen, offering ample storage. On-site laundry facilities cater to residents' convenience. Seven of the eleven units have been fully updated. Currently operating at 63% occupancy, the property generates a Net Operating Income (NOI) of $52,852, with a pro-forma NOI projected at $66,510, representing a 5.71% current cap rate and a 7.19% pro-forma cap rate. The asking price is $925,000, translating to $84,091 per unit and $233.59 per square foot. One parking space is available. An added benefit is an adjacent vacant lot, offering potential for future expansion or development. The property is conveniently located in the heart of a residential neighborhood in Barstow, providing easy access to major highways, shopping centers, and dining options. This property offers a compelling blend of stable income and significant upside potential.

Highlights

  • Stable cash flow from an 11-unit apartment complex.
  • Excellent location in a high-growth area.
  • High occupancy potential due to attractive units and modern amenities; 7 of 11 units recently renovated.

Property Details for 204 Woodham Ave

Property type
Apartment buildings
Square Feet
3,960 SF
Class
C
Year Built/Renovated
1959/2023
Buildings
1
Stories
1
Units
11

Location Insight

City
Barstow
County
San Bernardino
State
California
Latitude
34.8860779
Longitude
-117.0747811
204 Woodham Ave, Barstow, California

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204 Woodham Ave
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