15522 3Rd StVictorville, CA 92395

  • Residential income properties
  • 2,477 SF
For Sale
$680,000 View listing

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
Residential income properties
Property subtype
Other 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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
15522 3Rd St, Victorville, California

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

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
$6,918
$78,030
$504,594
$582,624
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