1111 Apple, Wrightwood, CA 92397
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$1,375,000
Est. payment /mo
0.42 Acres Lot
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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

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Listed by Gabriel Chipe LEOLA Commercial , Inc. 818-482-3666, DRE #02056431

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