Seller's Agent in 2021
Albert Le
LE INVESTMENT GROUP
(909) 256-7889
23 Total Sales
11938 1st Ave Hesperia, CA 92345
1
Bed
1
Bath
5,250
Sq Ft
0.85
Acres
Highlights
- Laundry Room
- Chain Link Fence
- 1-Story Property
About This Home
As of January 2021Please contact Le Investment Group for full offering memorandum. Drive by only please do not disturb the tenants. Thank you. Offering an actual CAP Rate of 6.57% With a ProForma CAP Rate of 7.01%. ProForma. Offering an actual GRM of 9.95, With a ProForma GRM of 9.30. Located blocks from Desert Valley Hospital and Victor Valley College. The First Avenue Apartments are located at the major cross streets of Bear Valley Road and Hesperia Road. This ten unit apartment community is composed of all 1 bedroom / 1 bath units that are approximately 525 sqft. The tenants are awarded with onsite parking and a laundry facility. The owner has renovated five units (~$4,000 each) to include new doors, flooring, paint, cabinets, granite countertops (unit 7), A/C units and water heater (unit 5). The First Avenue Apartments are located just minutes from Desert Valley Hospital which is one of the top accredited hospitals in the nation. The centralized location offers many advantages, convenient public transportation, close proximity to schools, shopping, and employment. The property is blocks away from major retail centers such as the Hi Desert Plaza and the Jess Ranch Marketplace. This apartment community has been well maintained throughout ownership. The current owner does updates and improvements on a scheduled basis.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1981
Lot Details
- 0.85 Acre Lot
- Two or More Common Walls
- Chain Link Fence
- Density is 6-10 Units/Acre
Home Design
- Property Attached
Interior Spaces
- 5,250 Sq Ft Home
- 1-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 1 Bedroom
- 1 Bathroom
Parking
- 20 Open Parking Spaces
- 20 Parking Spaces
- Parking Available
- Driveway
Listing and Financial Details
- Tax Lot 156
- Tax Tract Number 5104
- Assessor Parcel Number 0415044130000
Community Details
Building Details
- Rent Control
- 10 Separate Electric Meters
- 10 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $900
- Insurance Expense $3,862
- Maintenance Expense $5,418
- Other Expense $1,800
- Professional Management Expense $5,418
- Trash Expense $1,911
- Water Sewer Expense $3,590
- New Taxes Expense $10,690
- Operating Expense $34,789
- Gross Income $112,860
- Net Operating Income $73,628
Additional Features
- 10 Units
- Laundry Facilities
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/19/2021 01/19/21 | Sold | $975,000 | -7.1% | $186 / Sq Ft |
| 10/12/2020 10/12/20 | Pending | -- | -- | -- |
| 08/27/2020 08/27/20 | Price Changed | $1,049,888 | 0.0% | $200 / Sq Ft |
| 08/10/2020 08/10/20 | For Sale | $1,050,000 | -- | $200 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $11,958 | $1,055,370 | $189,425 | $865,945 |
| 2024 | $11,690 | $1,034,677 | $185,711 | $848,966 |
| 2023 | $11,565 | $1,014,390 | $182,070 | $832,320 |
| 2022 | $11,302 | $994,500 | $178,500 | $816,000 |
| 2021 | $9,400 | $819,301 | $154,585 | $664,716 |
| 2020 | $9,292 | $810,900 | $153,000 | $657,900 |
| 2019 | $4,861 | $405,090 | $97,377 | $307,713 |
| 2018 | $4,773 | $397,147 | $95,468 | $301,679 |
| 2017 | $4,694 | $389,360 | $93,596 | $295,764 |
| 2016 | $4,801 | $381,726 | $91,761 | $289,965 |
| 2015 | $4,547 | $375,992 | $90,383 | $285,609 |
| 2014 | $4,490 | $368,627 | $88,613 | $280,014 |
Source: Public Records
Agents Affiliated with this Home
-
Albert Le
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: IV20161350
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