15771 Kasota Rd, Apple Valley, CA 92307

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’s 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.