11411 Cherry Ave Cherry Valley, CA 92223-4723
- Apartment buildings
- 1,800 SF
- 1.86 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 11411 Cherry Ave
- Year built
- 1961
- Construction
- WOOD
- Lot size
- 1.86 lot acres
- Property size
- 1,800 SF
- Zone code
- R1
- Property type
- Apartment buildings
- APN
- 404-131-025
- APU
- 404131025
Description
This exceptional investment opportunity presents a portfolio of seven single-family rental units located at 11411 Cherry Ave, Cherry Valley, CA 92223. The property, situated on a 1.86-acre lot (APN 404-131-025), consists of four single-story buildings totaling 81,022 square feet, with 5,178 square feet of net rentable space. Built in 1961 and extensively renovated in 2023, the property boasts 100% occupancy, generating a substantial net operating income (NOI) of $210,600, representing a 7.29% cap rate. Each unit is thoughtfully designed with features including in-unit laundry hookups and central air conditioning and heating. Six of the seven units include a private one-car garage. The property is zoned R2 and offers significant potential for rental income growth. The asking price is $2,888,000, translating to $412,571.43 per unit and $35.64 per square foot. Seller financing is available. This turnkey investment is ideal for those seeking a strong return on investment in a desirable location. The current monthly rental income is $17,750, with potential for further increases. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,695,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,185,000
- 6.5%
- $1,205,000
- 7%
- $1,315,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,215,000
- Geo Method
- $1,300,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,185,000
- Retail
- $1,380,000
- Mixed-Use
- $1,165,000
- Hospitality
- $1,195,000
- Educational
- $1,455,000
- Residential Income
- $1,280,000
- Energy
- $1,400,000
- Income-Based Land
- $1,095,000
- Food Service
- $1,435,000
Location Insight
- Map
- Local Demand
- City
- Cherry Valley
- County
- Riverside
- State
- California
- Longitude
- -116.965
- Latitude
- 33.9555
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
