20365 Broken Bow, Apple Valley, CA 92307

This five-unit apartment complex includes two 2-bedroom, 1-bath units, two 1-bedroom, 1-bath units, and one studio. Each unit has its own gas and electric meters, with tenants responsible for service payments. The homes feature private yards or patios, upgraded kitchens and appliances, ceiling fans, and tile floors throughout. For climate control, units include window AC and swamp cooler cooling, along with wall heater heating. The roof is reported to be in great shape and approximately 10 years old, with a 30-year warranty.

Located in Apple Valley, the property is described as being within walking distance of Apple Valley Commons Shopping Center amenities, including Walmart, Target, and Albertsons, just a few hundred feet away. The surrounding area is described as a neighborhood of single-family homes and multifamily residences. For household convenience, the units are also within walking distance of elementary, middle, and high schools. Local public bus service is noted as down the block.

From an income standpoint, the offering reports $5,885 in monthly gross rent and $70,620 in annual gross rent at actual rents. Net operating income is stated as $55,203 annually, equating to a 7.90% cap rate at actuals and a 9.90 gross rent multiplier. The property’s rents are reported to be below market and written on a month-to-month basis, and the seller estimates potential to reach $7,800 monthly at market rents.