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    15771 Kasota Road

    Apple Valley, CA 92307
    • $1,175,000
    • STATUS: Closed
    • ON SITE: 358 days
    • ID#: IV19238598
    Sold - 04/15/2020
    $1,175,000
    SOLD - 04/15/2020
    • 0
      BEDS
    • 0.79
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,158
      SQFT
    • $0
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1989
    County:

    School Ratings & Info

    Description

    Offering Actual CAP Rate of 6.00 % / ProForma CAP Rate of 7.27 %. Offering Actual GRM of 9.99, With a ProForma GRM of 8.86 Conservative 5-7 %. Upside in Potential Rental Income. Located Less Than One Block From The St. Mary+GGs Medical Center. 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. Turn Key Financeable Asset. The 15771 Kasota Road apartment community is located on the corner lot of Olalee Road and Kasota Road. The thirteen-unit apartment is composed of (12) 1-bedroom / 1-bathroom units that are approximately 620 Sq. Ft and (1) 2-bedroom / 1-bathroom that is approximately 718 Sq. Ft. The owner has invested in recent capital improvements that include renovated units and new A/C units. 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.

    Sold by Jose Gutierrez of Village Realtors.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-01T18:30:01.95. 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 deemed reliable but is not guaranteed accurate by the MLS or The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

    www.livelovethefoothills.com/homes/99711822
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    15771 Kasota Road Apple Valley, CA 92307

    • Price: $1,220,000
    • Status: Closed
    • Updated: 29 min ago
    • ID#: IV19238598
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.79
    Acres
    8,158
    SQFT
    $0
    $/SQFT
    1989
    Built
    Neighborhood:
    APPV - Apple Valley
    County:
    San Bernardino
    Area:
    APPV - Apple Valley
    Property Description
    Offering Actual CAP Rate of 6.00 % / ProForma CAP Rate of 7.27 %. Offering Actual GRM of 9.99, With a ProForma GRM of 8.86 Conservative 5-7 %. Upside in Potential Rental Income. Located Less Than One Block From The St. Mary+GGs Medical Center. 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. Turn Key Financeable Asset. The 15771 Kasota Road apartment community is located on the corner lot of Olalee Road and Kasota Road. The thirteen-unit apartment is composed of (12) 1-bedroom / 1-bathroom units that are approximately 620 Sq. Ft and (1) 2-bedroom / 1-bathroom that is approximately 718 Sq. Ft. The owner has invested in recent capital improvements that include renovated units and new A/C units. 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.
    Exterior Features

    Garage Spaces 0.00 Lot Features 11-15 Units/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 13.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Cooling Central Air Cooling YN Yes Laundry Features CommunityDryer IncludedWasher Included Levels One

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Cap Rate 7.27 Community Features Urban Country Us Electric Expense 1728.00 Elevation Units Feet Fuel Expense 420.00 Gardener Expense 1440.00 Gross Income 137700.00 Gross Multiplier 8.86 Gross Scheduled Income 137700.00 Insurance Expense 3938.00 Land Lease YN No Laundry YN Yes Maintenance Expense 6576.00 Net Operating Income 88639.00 New Construction YN No New Taxes Expense 12688.00 Number Of Separate Electric Meters 13 Number Of Separate Gas Meters 13 Number Of Separate Water Meters 1 Operating Expense 42889.00 Other Expense 161.00 Other Expense Description Admin Professional Management Expense 6576.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Total Expenses 42889.00 Trash Expense 5157.00 Vacancy Allowance 6923 Vacancy Allowance Rate 5.00 Water Sewer Expense 4205.00 Water Source Public Year Built Source Other

    Listing provided courtesy of Albert Le of Le Investment Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-01T18:30:01.95. 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 deemed reliable but is not guaranteed accurate by the MLS or The Costantino Group | Cal American Homes and Realty. Licensed in the State of California, USA.

     
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    The Costantino Group | Cal American Homes and Realty
    405 West Foothill Blvd Suite 203
    Claremont CA, 91711