11941 Lee Ave - Apartments FOR SALE


Adelanto, CA 92301
$1,500,000 USD
714-423-3819
11941 Lee Ave, Adelanto, CA for Sale
$1,500,000 USD
Apartments - FOR SALE
1/9
null | 6.72% Cap Rate

11941 Lee Ave
Adelanto, CA 92301


HIGHLIGHTS

  • ProForma CAP Rate of 7.31% With a ProForma GRM of 8.59. Current CAP Rate of 6.72%. ProForma CAP Rate is Based on Leveling Off Current Rents.
  • Diverse Unit Mix The property consists six 2-bedroom, 2-bathroom units and three 3-bedroom, 2-bathroom units, catering to various tenant demographics.
  • Desirable Lot Size: Spanning 0.89 acres, the property offers ample parking and outdoor space, enhancing its appeal for families and long-term tenants.
  • Future Growth Potential Benefiting from Adelanto' pro-business policies and ongoing infrastructure improvements, increasing desirability for residents
  • Tenant-Paid Utilities Separate gas & electric meters for each unit ensure tenants are responsible for their utilities, reducing operating expenses.

OVERVIEW

Located in the thriving High Desert region, 11941 Lee Ave presents a prime investment opportunity in Adelanto's expanding rental market. This 9-unitapartment complex, built in 1982, spans approximately 0.89 acres and offers a well-balanced mix of spacious units. The property features six 2-bedroom,2-bathroom units, each equipped with a single-car garage, and three 3-bedroom, 2-bathroom units, appealing to a variety of tenants. The complex provides scenic desert and mountain views, complemented by easy access to major transportation routes and local amenities. With separate gas and electric meters for each unit, utility management is straight forward. Situated in a city known for its pro-business policies and robust economic growth, this property offers excellent potential for consistent cash flow and long-term appreciation.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$115 USD /SF

# OF UNITS

9

PRICE/UNIT

$166,667

CAP RATE

6.72%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

BP

APN/PARCEL ID

0459-163-04

ASK ABOUT THIS PROPERTY

Anthony LeLe Investment GroupMore Info
714-423-3819

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Anthony LeLe Investment GroupMore Info
714-423-3819

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.