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1483 E Lynwood Drive - Villa Park, San Bernardino, CA

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1483 E Lynwood Drive - Villa Park

San Bernardino, CA 92404-7016 - Northeast Sterling MF Submarket

Property Type:Multi-Family Number of Units:21 Status:Existing Year Built:1982
Stories:2 Building Size:13,100 SF Land Area:.59 AC (25,761 SF)
For Sale Price:$1,554,000 Price/Unit:$74,000.00 Cap Rate:6.64 % GRM:8.09

Parking:1.33 Parking Spaces / 1,000 SF

Location Corner: SE

Property Description: Multi Family - 21 Units

Sale Notes:
The Villa Park Apartments are situated on a large 1.11 acre lot . This twenty one unit apartment community is composed of 16 one bedroom / one Bathroom units and 5 two bedroom / one bathroom units.

The Apartment community is located in the East Lynwood Drive / Del Rosa Avenue area. The areas real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes. Many of the residences in the East Lynwood Drive / Del Rosa Avenue neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999. Home and apartment vacancy rates are 5-10% East Lynwood Drive / Del Rosa Avenue area. Analysis shows that this rate is lower than 40% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Competitive Offering Actual CAP Rate of 6.26%,
Proforma Cap of 6.64%
Competitive Offering Actual GRM of 8.78,
Proforma GRM of 8.09
Many Interior Units Have Been Updated, Non-Rent Control Community & Area
Rental Comparables Illustrate a 97% Occupancy Area
8% - 9% Upside In Potential Rental Income Per Rental Comparables
BBQ / Pool Area, Onsite Laundry, Gated, Covered Parking

16 - One Bedroom, 1 Bathroom $750/month 550 SF
5 - Two Bedroom, 1 Bathroom $800/month 750 SF

Operating Expenses $103,125
Net Operating Income $103,186

Le Investment Group
Albert Le
(909) 259-9950

Anthony Le
(714) 423-3819

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