15522 3Rd StVictorville, CA 92395

Property Details for 15522 3Rd St

Year built

1952

Construction

WOOD FRAME

Lot size

0.16 AC

Property size (Sq ft)

2,477 SF

Property type

Apartment buildings

APN

0478-241-03-0000

APU

478241030000

Description

This exceptional investment opportunity presents a well-maintained, five-unit apartment building located at 15522 3rd St, Victorville, CA 92395. The property, situated on a 0.163-acre lot, boasts 7,100 total square feet with 2,477 square feet of net rentable space. Built in 1952 and extensively renovated in 2021, this Class C multifamily property features two one-story buildings. Currently operating at 80% occupancy, the property offers five units, each designed for comfortable living. The asking price is $680,000, translating to $136,000 per unit and a price per square foot of $95.77. The property's strong performance is reflected in its 6.40% cap rate. This is a fantastic opportunity for investors seeking a solid return on investment in a desirable location. The property's convenient location in Victorville provides easy access to essential amenities, shopping, and transportation. The spacious lot presents potential for future expansion or improvements. The property is offered for sale by owner and is held under joint ownership. The APN is 0478-241-03-0000. There is no ground lease associated with this property. This is a turnkey investment ready for immediate income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $759,344

  6.5%

  $700,933

  7%

  $650,867

• Comparable approach

  Method

  Valuation

  Relative Method

  $625,709

  Geo Method

  $730,091

• Alternative Use

  Use

  Valuation

  Residential

  $700,933

  Hospitality

  $642,051

  Educational

  $534,179

  Medical

  $552,550

  Retail

  $830,945

Location Insight

City

Victorville

County

San Bernardino

State

California

Latitude

34.5371

Longitude

-117.299

CBSA code

40140

CBSA name

RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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