204 Woodham Ave Barstow, CA 92311-8621

This exceptional value-add investment opportunity presents an 11-unit apartment building located at 204 Woodham Ave, Barstow, CA 92311, in San Bernardino County. The property, built in 1959 and renovated in 2023, boasts 3,960 square feet of net rentable space situated on a 15,130 square foot lot. The single-story building features eleven spacious studio apartments, each equipped with a full bathroom and well-equipped kitchen, offering ample storage. On-site laundry facilities cater to residents' convenience. Seven of the eleven units have been fully updated. Currently operating at 63% occupancy, the property generates a Net Operating Income (NOI) of $52,852, with a pro-forma NOI projected at $66,510, representing a 5.71% current cap rate and a 7.19% pro-forma cap rate. The asking price is $925,000, translating to $84,091 per unit and $233.59 per square foot. One parking space is available. An added benefit is an adjacent vacant lot, offering potential for future expansion or development. The property is conveniently located in the heart of a residential neighborhood in Barstow, providing easy access to major highways, shopping centers, and dining options. This property offers a compelling blend of stable income and significant upside potential.