204 Woodham AveBarstow, CA 92311

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

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.

• 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

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

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