$500,000
SOLD APR 14, 2016
4 Beds
4 Baths
6,266 Sq Ft
0.75 Acres

Recently Sold

$80 Per Sq Ft

11% Below List Price

67 Days on Market

About This Home

As of July 2017

**Reduced $44K from original list price** True 7.18 cap actual rents/7.6 cap market rents, priced well below replacement value - seller motivated**. Seven (7) single story, two bedroom/two bath units in a nice Apple Valley location across from elementary school & park (Yucca Loma Elementary and Yucca Loma Park). Three of the units have a den that can be used as an office or additional bedroom and four of the units have patios. All units have central ac/heat, separate water heaters and separate tenant meters for gas & electric. There are 6 new AC units plus there is a laundry room for additional income as well (seller owned machines are included in sale). There is ample parking with 14 carport spaces. The subject property has approximately 6266 square feet and sits on a 32,745 square foot lot (buyer to verify all building/lot dimension data) ** Part of a 22 unit/3 separate address Apple Valley portfolio (same seller) that can be sold with 9U at 19161 Allegheny and 6U at 15340 Ute Rd - buy all three buildings as a package deal or buy two buildings or just one ** All units in portfolio are two bedroom with 9 townhomes and 13 single story units and on market** Make all offers**

Last Agent to Sell the Property

Ed Diaz

Vanguard Property Group License #01022469 Listed on: 01/23/2016

Last Buyer's Agent

Nittaya Pichedvanichok

NP International Real Estate License #00880935

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1978

Lot Details

  • 0.75 Acre Lot
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Home Design

  • 6,266 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Parking

  • 28 Parking Spaces
  • 14 Carport Spaces
  • Parking Available

Location

  • Suburban Location

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 3447
  • Tax Tract Number 3641
  • Assessor Parcel Number 3087301130000

Community Details

Overview

  • 7 Units

Building Details

  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $376
  • Maintenance Expense $3,500
  • Trash Expense $4,396
  • Water Sewer Expense $3,074
  • New Taxes Expense $6,334
  • Gross Income $5,000
  • Net Operating Income $36,975

Property Details

Home Type

Multi-Family

Year Built

Built in 1978

Lot Details

0

Listing Details

  • CapRate: 7.18
  • Price Per Unit: 73571
  • Property Attached: Yes
  • Water Sewer Expenses: 3074.00
  • Property Type: Residential Income
  • Parcel Number: 3087301130000
  • Year Built: 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 2+ Common Walls
  • Levels: One
  • Price Per Square Foot: 79.80

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 14.00
  • Parking: Yes
  • Parking Features: Carport
  • Total Parking Spaces: 28.00

Utilities

  • Utilities: Sewer Available
  • Trash Expense: 4396.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Suburban

Lot Info

  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 32745.00
  • Price Per Lot Square Foot: 15.27
  • Lot Size Acres: 0.7520

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Electric Expense: 376.00
  • Gross Income: 5000.00
  • Gross Multiplier: 8.60
  • Gross Scheduled Income: 60000.00
  • Laundry Equipment Own Lease: Own
  • Lot Size Area: 32745.0000 Square Feet
  • Maintenance Expense: 3500.00
  • Net Operating Income: 36975.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 7
  • Operating Expense: 20025.00
  • Other Expense Description: Estimate
  • Rent Control: No
  • Total Actual Rent: 4850.00
  • Vacancy Allowance: 3000
  • Vacancy Allowance Rate: 5.00

Tax Info

  • New Taxes Expense: 6334.00
  • Tax Lot: 3447
  • Tax Tract Number: 3641

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/20/2017 07/20/17 Sold $588,000 -0.2% $94 / Sq Ft
06/05/2017 06/05/17 Pending -- -- --
04/25/2017 04/25/17 For Sale $589,000 +17.8% $94 / Sq Ft
04/14/2016 04/14/16 Sold $500,000 -10.6% $80 / Sq Ft
03/30/2016 03/30/16 Pending -- -- --
01/23/2016 01/23/16 For Sale $559,000 -- $89 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW16014986

California Regional Multiple Listing Service (CRMLS)