16518 Avalon Ave - Apartments FOR SALE


Victorville, CA 92395
$3,384,000 USD
626-679-7947
16518 Avalon Ave, Victorville, CA for Sale
$3,384,000 USD
Apartments - FOR SALE
1/26
null | 5.56% Cap Rate

16518 Avalon Ave
Victorville, CA 92395


HIGHLIGHTS

  • Built 1985 | 100% Two-Bedroom One-Bathroom Units Updated with Double-Pane Windows & Dual-Glass Patio Doors
  • $400,000 CapEx Improvements on Interior/Exterior | 80% of the Units Upgraded with Vinyl Plank Flooring & Bathtubs with Modern Finishes
  • Proximity to Brightline West High-Speed Rail Terminal to Provide Rail Service to Las Vegas, NV | Located in a Single-Family Residential Neighborhood
  • Individually Metered for Gas & Electricity | Private Patios/Balconies for All Units
  • On-Site Laundry Facility (Machines Owned) | Detached Private Garages & Ample Open Space Parking
  • Easy Connectivity to Surrounding Employment Centers by Way of Interstate 15 & State Route 18

OVERVIEW

We are pleased to exclusively present an 18-unit multifamily investment property located in the City of Victorville, California. Situated on 1.18 acres, the offering presents the opportunity for investors to acquire a value-add asset in one of the most desirable submarkets of the High Desert in the Inland Empire. The property is located within short commute to national/regional tenants that include Costco, Home Depot, WinCo Foods as well as St Mary’s Medical Center and within proximity to the future Brightline West High-Speed Rail Terminal provided rail service between California and Las Vegas, Nevada.. The community grants residents' easy access to the entire Victor Valley consisting of Adelanto, Apple Valley, Hesperia, and Victorville that consists of over 173,000 people within a 5-mile radius. Interstate 15 and State Route 18 grant convenient access to surrounding employment hubs throughout the Inland Empire, Los Angeles & Orange County regions. The subject property consist entirely of two-bedroom units with 853 square feet of living space. Units are individually metered for gas & electricity with amenities that include(s): dual-pane windows, dual-glass patio doors, vinyl plank flooring & bathtubs (most units), copper plumbing, detached enclosed garages, open space parking, laundry facility, swimming pool (not in use), and balconies/patios. The strong demand for rentals in the area is evidenced by its historical occupancy as it caters to families & working professionals alike. With significant value-add potential coupled with growing demand for this submarket, the offering presents investors the opportunity to acquire an appreciating, cash flowing asset with additional upside through continued renovation & proactive management to capture upside in rents achievable at the property.

FOR SALE DETAILS

PRICE

$3,384,000 USD

PRICE/SF

$221 USD /SF

# OF UNITS

18

PRICE/UNIT

$188,000

CAP RATE

5.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.18 AC

LAND SF

51,401 SF

ZONING

-

APN/PARCEL ID

0478-061-39

ASK ABOUT THIS PROPERTY

Sean HwangboRe/Max Commercial Real EstateMore Info
626-679-7947

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Sean HwangboRe/Max Commercial Real EstateMore Info
626-679-7947

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