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304 W Broadway Street, Needles, CA

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304 W Broadway Street

Needles, CA 92363-2938 - Outer San Bernardino County MF Submarket

Property Type:Multi-Family Number of Units:16 Status:Existing Year Built:-
Stories:1 Building Size:5,114 SF Land Area:.42 AC (18,483 SF)
For Sale Price:$499,000 Price/Unit:$31,187.50 Cap Rate:11.00 % GRM:-


Sale Notes:
Cap Rate 13% !!! No Rent Control. Total of 16 Units $ 450-$550 Per Month per Unit. Annual Gross Rental Income $88,440 , Annual Operating Expense Appox. $ 23,547 , Annual Net Operating Income $ 64,892. Cap Rate Approx.: 13%. Landlord Pays for Water ,Trash and Common Area's Gas/Electricity, even Cablevision! That's why people love it, everything included in rent!. Close to Everything Centrally Located, Close to Freeway, Walking Distance to Stores and Transportation Local Management Company. No Vacancy's in over 3 years. Easy to Rent waiting list to get in. Most of Tenants are Long-Term Tenants. Rents are low, and can be raised! All 16 units were torn down to the studs approx. 10 years ago. New drywall, new electrical, plumbing, everything!

16 Bungalow style units

Century 21 Masters
Peter Black
(909) 595-6697

Craig Cole
(562) 618-6868

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