Built in 1986 on roughly 4.03 acres, the Apple Valley Town Homes offers an investor the opportunity to acquire an asset with huge value add potential as current rents are approximately 20% below market. Priced at $98,684 on a per unit basis and a price per square foot of $97.96, there is a potential to achieve over a 7% cap rate and a gross rent multiplier of 8.5 at the forecasted market rent levels translating to a substantial cash on cash return. The property features sixteen (3 Bedroom + 1.5 Bathroom Townhomes), nineteen (2 Bedroom + 1.5 Bathroom Townhomes) and three (1 Bedroom + 1 Baths). Tenant amenities include individual water heaters, central A/C and heat, large patios, a central common area with playground and basketball court, and assigned garages and car spaces.
Based on information from California Regional Multiple Listing Service, Inc. as of September 15th, 2019 at 3:27pm CDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.