204 Woodham AveBarstow, CA 92311

  • Residential income properties
  • 3,960 SF
For Sale
$925,000 View listing

Property Details for 204 Woodham Ave

Year built
1959
Construction
WOOD FRAME
Lot size
0.35 AC
Property size (Sq ft)
3,960 SF
Property type
Residential income properties
Property subtype
Other apartment buildings
APN
0427-201-05-0000
APU
427201050000

Description

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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,222,189
    6.5%
    $1,128,174
    7%
    $1,047,591
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,005,582
    Geo Method
    $1,167,202
  • Alternative Use

    Use
    Valuation
    Residential
    $1,128,174
    Hospitality
    $1,033,402
    Educational
    $859,778
    Medical
    $889,347
    Retail
    $1,337,433
204 Woodham Ave, Barstow, California

Location Insight

City
Barstow
County
San Bernardino
State
California
Latitude
34.8861
Longitude
-117.075
CBSA code
40140
CBSA name
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$8,046
$43,963
$265,656
$309,619
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