We are pleased to exclusively present an 18-unit multifamily investment property located in the City of Victorville, California. Situated on 1.18 acres, the offering presents the opportunity for investors to acquire a value-add asset in one of the most desirable submarkets of the High Desert in the Inland Empire.
The property is located within short commute to national/regional tenants that include Costco, Home Depot, WinCo Foods as well as St Mary’s Medical Center and within proximity to the future Brightline West High-Speed Rail Terminal provided rail service between California and Las Vegas, Nevada.. The community grants residents&#39' easy access to the entire Victor Valley consisting of Adelanto, Apple Valley, Hesperia, and Victorville that consists of over 173,000 people within a 5-mile radius. Interstate 15 and State Route 18 grant convenient access to surrounding employment hubs throughout the Inland Empire, Los Angeles &#38' Orange County regions.
The subject property consist entirely of two-bedroom units with 853 square feet of living space. Units are individually metered for gas &#38' electricity with amenities that include(s): dual-pane windows, dual-glass patio doors, vinyl plank flooring &#38' bathtubs (most units), copper plumbing, detached enclosed garages, open space parking, laundry facility, swimming pool (not in use), and balconies/patios.
The strong demand for rentals in the area is evidenced by its historical occupancy as it caters to families &#38' working professionals alike. With significant value-add potential coupled with growing demand for this submarket, the offering presents investors the opportunity to acquire an appreciating, cash flowing asset with additional upside through continued renovation &#38' proactive management to capture upside in rents achievable at the property.