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.
Details
| MLS # | SR26169312 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1984 |
| Days On Site | 23 |
| Listing Provided By | LEOLA Commercial , Inc. | Gabriel Chipe |
Features
| SQ Feet | 6,602 |
|---|---|
| Garage | 12 |
| Story(s) | 2 |
| Units | 6 |
| Building(s) | 1 |
| Acreage | 0.42 |
Exterior
| Lot Features | Rectangular Lot, Street Level |
|---|
Parking
| Parking Features | Direct Access, Garage |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Mountainous |
|---|
Area Information
| State | CA |
|---|---|
| County | San Bernardino |
| City | Wrightwood |
| Zip Code | 92397 |
| Area | WRWD Wrightwood |
| Listing VS Median (in 92397) | |
Price: $1,375,000 low | high Med: $1,647,500 sqft: 6,602 low | high Med: 6,301 $ / sqft: $208 low | high Med: $264 On site: 23 low | high Med: 47 | |
Market Activity 92397
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Learn More About This Property
| State | CA |
|---|---|
| County | San Bernardino |
| City | Wrightwood |
| Zip Code | 92397 |
| Area | WRWD Wrightwood |
| Listing VS Median (in 92397) | |
Price: $1,375,000 low | high Med: $1,647,500 sqft: 6,602 low | high Med: 6,301 $ / sqft: $208 low | high Med: $264 On site: 23 low | high Med: 47 | |
 | $1,920,0001098 State Highway 2Wrightwood, CA 92397 |