$3,300,000

Estimated payment $20,917/month

2 Beds
2 Baths
17,360 Sq Ft
$190 Price per Sq Ft

Highlights

  • No HOA
  • Mountainous Community
  • Central Heating and Cooling System
  • Laundry Room

About This Home

We are pleased to present the exclusive investment opportunity for Allegheny Arms Apartments, a 16-unit multifamily community located in the high-growth market of Apple Valley. Located at 19087 Allegheny Road, Apple Valley, CA, this well-located asset sits just a block off Highway 18, providing tenants with a premium location and unparalleled convenience to essential retail and lifestyle amenities. Its prime positioning offers quick access to destinations like St. Mary Medical Center, Desert Mountain Plaza, and Apple Valley Center, all within a short drive. The property’s proximity to Highway 18 allows for direct connection to other major cities within San Bernardino County and is conveniently located on the way to Las Vegas. Furthermore, the community is within a short driving distance of national retailers like Costco in Victorville and a variety of local shops and restaurants. Allegheny Arms Apartments represents a rare multifamily asset in the market, consisting of 16 single-story condo-style units spanning a generous ±60,767 SF lot size with a ±17,360 SF building size. Built in 1987, the property features a uniform unit mix of sixteen 2-bedroom/2-bathroom single-story flats, averaging approximately 1,085 SF per unit. The community features low-maintenance, drought-resistant landscaping complemented by lush, mature greenery and a tranquil outdoor seating area, offering a serene environment designed to reduce overhead while maintaining high tenant retention. The architecture is defined by open-beam ceilings and brick fireplaces, creating a spacious and inviting interior feel. Interior features are equally impressive, boasting detached garages, two large private patios per unit, and in-suite laundry connections. The investment profile is further enhanced by recent infrastructure updates, including a resurfaced parking lot, redone decks and railings, and a completely relandscaped front exterior. Additional in-unit comforts include central air and heating, dishwashers, and breakfast bars. This stable, well-maintained unit base provides immediate income security and remains a highly attractive offering for residents seeking quality, single-story housing in a convenient, well-established location. Whether for a first-time purchaser, a seasoned institutional investor, or a 1031 exchange buyer, Allegheny Arms Apartments offers long-term stability and an exceptional foothold in the thriving San Bernardino County submarket.

Listing Agent

Eric Chen

CB RICHARD ELLIS Brokerage Phone: 626-757-5717 Listed on: 05/14/2026

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 29,698 Sq Ft Lot
  • Two or More Common Walls
  • Density is 16-20 Units/Acre
  • 0473-037-28

Parking

  • 20 Open Parking Spaces
  • 16 Car Garage

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 17,360 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Utilities

  • Central Heating and Cooling System

Listing and Financial Details

  • Legal Lot and Block 389 / 2
  • Tax Tract Number 4475
  • Assessor Parcel Number 0473037270000
  • $3,073 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 6 Buildings
  • 16 Units
  • Mountainous Community

Building Details

  • 16 Leased Units
  • 16 Separate Electric Meters
  • 16 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,742
  • Fuel Expense $225
  • Gardener Expense $8,600
  • Insurance Expense $8,395
  • Maintenance Expense $12,000
  • Other Expense $3,200
  • Pest Control $1,295
  • Professional Management Expense $6,000
  • Trash Expense $12,600
  • Water Sewer Expense $2,424
  • New Taxes Expense $36,907
  • Operating Expense $93,388
  • Gross Income $292,085
  • Net Operating Income $184,092

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

0.68 Acres

Parking

16

Listing Details

  • CapRate: 5.58
  • Professional Management Expense: 6000.00
  • Property Attached: Yes
  • Water Sewer Expenses: 2424.00
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 8600.00
  • Parcel Number: 0473037270000
  • Year Built: 1987
  • Special Features: None

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Entry Level: 1
  • Levels: One, Two
  • Price Per Square Foot: 190.09

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 16.00
  • Total Parking Spaces: 36.00
  • Uncovered Spaces: 20.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Central
  • Laundry Features: Gas Dryer Hookup, Washer Hookup
  • Pest Control Expense: 1295.00
  • Sewer: Public Sewer
  • Trash Expense: 12600.00
  • Water Source: Public
  • Cooling: Central Air
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Mountainous

Lot Info

  • Additional Parcels: Yes
  • Additional Parcels Description: 0473-037-28
  • Land Lease: No
  • Lot Features: 16-20 Units/Acre, Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 29698.00
  • Lot Size Acres: 0.6818

Multi Family

  • Electric Expense: 1742.00
  • Fuel Expense: 225.00
  • Gross Income: 292085.00
  • Gross Multiplier: 11.30
  • Gross Operating Income: 277480.00
  • Gross Scheduled Income: 292085.00
  • Insurance Expense: 8395.00
  • Lot Size Area: 29698.0000 Square Feet
  • Maintenance Expense: 12000.00
  • Net Operating Income: 184092.00
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 16
  • Number Of Units Total: 16
  • Operating Expense: 93388.00
  • Other Expense: 3200.00
  • Other Expense Description: Reserves
  • Rent Control: No
  • Total Actual Rent: 289533.00
  • Total Expenses: 93388.00

Tax Info

  • New Taxes Expense: 36907.00
  • Tax Block: 2
  • Tax Census Tract: 009726
  • Tax Lot: 389
  • Tax Tract Number: 4475
  • TaxOtherAnnualAssessmentAmount: 3073.00

Map

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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 List to Sale Price per Sq Ft
05/14/2026 05/14/26 For Sale $3,300,000 -- $190 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: CV26105265

California Regional Multiple Listing Service (CRMLS)
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