204 Woodham AveBarstow, CA 92311
- Residential income properties
- 3,960 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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