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26665 - 26675 Ward Street - Ward Street Apartments, Highland, CA

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26665 - 26675 Ward Street - Ward Street Apartments

Highland, CA 92346-5676 - Cypress MF Submarket

Property Type:Multi-Family Number of Units:11 Status:Existing Year Built:1963
Stories:1 Building Size:4,548 SF Land Area:.53 AC (23,170 SF)
For Sale Price:$725,000 Price/Unit:$65,909.09 Cap Rate:7.36 % GRM:9.76

Parking:1 Parking Spaces / 1,000 SF

Property Description: Multi Family - 11 Units

Sale Notes:
Competitive Offering CAP Rate of 6.06% With a Pro Forma CAP Rate of 6.43%
Competitive Offering GRM of 9.76 With a Pro Forma GRM of 9.39
Potential 5%-7% Upside in Potential Rental Income
Rental Comparables Illustrate a 99 % Occupancy Area
11 Unit & 4 Unit Properties are Individually Parceled. Can be Sold Together or Separately
Large Lot, Absolute Turn Key, Very Clean & Well Maintained, Financeable Asset

The Ward Street properties are situated on two
individually parceled lots totaling 23,169 Sq. Ft. The
properties combined, feature a unit mix composed of
eleven studios and four 2 bedroom 2 bathroom units.
The properties have been very well maintained
throughout the years and reflects a pride of ownership.
The tenants are provided secure onsite parking with
detached garages, pool access, & onsite laundry.
The City of Highland is among one of the fastest
growing communities in the Inland Empire. There are
currently six developers working on large scale
residential developments in the city. Increased
occupancy and stabilization have lead to an increase
in demand, which has resulted in higher rental prices
and returns. Currently less than 20% of dwellings in
Highland are designated for multifamily, this factor will
continue to contribute to much higher demand for this
type of housing in the future. The growth in the City of
Highland make this multifamily asset an ideal
investment opportunity.

Le Investment Group
Albert Le
(909) 256-7889

Anthony Le
(714) 423-3819

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