$1,375,000
Est. payment /mo
0.42 Acres Lot
New
1111 Apple Wrightwood, CA 92397
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Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26169312
HOA Y/N No
Year Built 1984
Lot Size 0.424 Acres
Property Sub-Type Apartment
Property Description
Have you been thinking of investing in apartments? Leola Commercial, Inc is proud to present 1111 Apple Avenue, a 6-unit multifamily investment opportunity located in Wrightwood, California. Consisting of all (2+1) renovated units with 2-car attached garages. This investment opportunity offers large units suitable for families and working professionals. This well-maintained property features large unit town-home style layouts, patios, and secured covered parking. Several units have been recently renovated, providing investors with strong in-place cash flow along with meaningful value-add potential. The property boast a newer roof installed in 2022 and newer water heaters in most of the units. The property sits on a 18,489 SF lot and offers approximately 6,602 SF of rentable space. Current rents are approximately 23.63% below market, presenting a clear opportunity for rent growth. A savvy investor may further enhance returns by converting the garages to ADU's and add additional parking in the rear of the building. Nestled about 50 minutes southeast of Palmdale, this mountain community is next to Mountain High Ski Resort! The asset benefits from excellent freeway access via State Highway 2 and State Highway 38 (connecting from the north) and is located about 15 miles from Interstate 15, enhancing tenant demand and long-term investment stability. Highlights: Rare opportunity to acquire a stabilized 6-unit multifamily asset, Strong in-place cash flow, Approximately 23.63% rental upside, 6 of 6 units renovated with new flooring and fresh paint, 2 car attached garages with direct access to the apartment, Significant rental upside and value-add opportunity, Pride-of-ownership property.
Location
State CA
County San Bernardino
Area Wrwd - Wrightwood
Interior
Fireplace No
Laundry None
Exterior
Parking Features Direct Access, Garage
Garage Spaces 12.0
Garage Description 12.0
Pool None
Community Features Mountainous
Total Parking Spaces 12
Private Pool No
Building
Lot Description Rectangular Lot, Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 0355113070000
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
Listed by Gabriel Chipe LEOLA Commercial , Inc. 818-482-3666, DRE #02056431
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