$1,049,888

11938 1st Avenue

Hesperia CA, 92345

Description

Please 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.

Details

MLS#IV20161350
Listing TypeFor Sale
Sub-TypeResale
StatusActive Under Contract
Year1981
Days On Site163

Features

SQ Feet5,250
Units10
Building(s)1

Market Activity 92345

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Area Information
StateCA
CountySan Bernardino
CityHesperia
Zip Code92345
AreaHSP - Hesperia
Listing VS Median (in 92345)
Price:
$1,049,888
low | high
Med:
$297,000
100% of Average
SqFt:
5,250
low | high
Med:
2,024
100% of Average
$ / SqFt:
$200
low | high
Med:
$161
69.444668916059% of Average
On Site:
163
low | high
Med:
66
100% of Average
Listing Updated: January 15, 2021 4:36:00 PM PST
ALBERT LE LogoMLS Number: IV20161350
Listing Provided By:
ALBERT LE  of  LE INVESTMENT GROUP
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.