Description

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 is located in Opportunity Zone & 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' 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 & 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 & electricity with amenities that include(s): dual-pane windows, dual-glass patio doors, vinyl plank flooring & 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 & 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 & proactive management to capture upside in rents achievable at the property.