21225 Wigwam Street, Apple Valley, CA 92307
Property · 2 recorded sales since 2014
Sold November 2019
Listing Agent: ALBERT LE (DRE #01468313) · Listing Office: LE INVESTMENT GROUP · Contact: 909-256-7889 · Bought with: ALBERT LE · LE INVESTMENT GROUP · MLS #IV19096154 · Source: CRMLS
About this property
Investment Highlights: Offering Actual CAP Rate of 6.91 % / ProForma CAP Rate of 7.53 %. Offering Actual GRM of 8.80, With a ProForma GRM of 8.04. Conservative 5-7 % Upside in Potential Rental Income. Located 8 Minutes From St. Mary’s Medical Center Hospital. Recent Capital Improvements. Non-Rent Control Community & Area. Long Term Tenants With Upside in Potential Rental Income. The Apartment is 100 % Occupied & Rental Comparables Illustrate a 99 % Occupancy Area. The 21225 Wigwam apartments are located on the corner lot of Dale Evans Parkway and Wigwam Road. This large 0.64 acre lot has great visibility from Highway 18 and the 15 freeway. The Property has accessible onsite parking in the front. This six unit apartment community is composed of all 2 bedroom / 1 bedroom units that are approximately 933 Sq. Ft. The property has recent improvements and is 100% occupied. This apartment community has been well maintained throughout ownership. The current owner does updates and improvements on a scheduled basis. The repairs and maintenance of the property and ground have been done as necessary, on time, & without deferring maintenance. The condition of the property offers prospective buyers an asset that will require very minimal maintenance for decades to come.
Listing description from the November 2019 sale, as reported to CRMLS.
Sale history
