1111 Apple Ave - Apartments FOR SALE


Wrightwood, CA 92397
$1,450,000 USD
818-482-3666
1111 Apple Ave, Wrightwood, CA for Sale
$1,450,000 USD
Apartments - FOR SALE
1/13
null | 5.02% Cap Rate

1111 Apple Ave
Wrightwood, CA 92397


HIGHLIGHTS

  • Rare six-unit multifamily offering in supply-constrained Wrightwood
  • Strong in-place cash flow with immediate upside
  • Approximately 31% rental upside to market, value add potential through possible ADU strategy
  • Two-car attached garages with direct access (high tenant demand amenity)
  • Newer roof 2022
  • Pride of ownership condition

OVERVIEW

Leola Commercial, Inc. is proud to exclusively present 1111 Apple Avenue — a rare opportunity to acquire a stabilized six-unit multifamily asset in the highly desirable mountain community of Wrightwood, CA. This pride-of-ownership property consists of six large two-bedroom, one-bathroom townhome-style units totaling approximately 6,602 rentable square feet on an expansive 18,489 square foot lot. Each unit features a highly desirable two-car attached garage with direct access — an amenity rarely found in comparable multifamily properties and a significant competitive advantage within the market. All six units have been renovated with new flooring and fresh interior paint, creating strong in-place income while minimizing immediate capital expenditure requirements. Major capital improvements include a newer roof (2022) and newer water heaters in most units, providing additional operational stability for the next owner. Compelling Value-Add Opportunity Current rents are approximately 31% below market, presenting a clear and measurable path to income growth. An investor has the opportunity to capture significant upside through natural rent increases and improved management efficiencies. Additionally, the oversized garage configuration offers potential for future ADU conversion (buyer to verify), creating an additional layer of long-term value enhancement. The property benefits from convenient access to State Highway 2 and Highway 38 and is located approximately 15 miles from Interstate 15, ensuring connectivity to surrounding employment hubs while maintaining Wrightwood’s desirable small-town, mountain lifestyle. Founded in 1924 and located in the scenic Swarthout Valley, Wrightwood is a well-established mountain community known for its year-round recreation, including skiing at Mountain High and hiking along the Pacific Crest Trail. Once primarily a vacation destination, the area now supports over 4,000 full-time residents and continues to attract families and professionals seeking affordability relative to nearby Southern California markets. With a median household income of approximately $78,496 and an average household income of approximately $112,633 (2024/2025 data), Wrightwood demonstrates stable household earnings that support long-term rental demand.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$220 USD /SF

# OF UNITS

6

PRICE/UNIT

$241,667

CAP RATE

5.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1984

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,823 SF

ZONING

RM

APN/PARCEL ID

0355-113-07,0355-113-08

ASK ABOUT THIS PROPERTY

Gabriel ChipeLEOLA CommercialMore Info
818-482-3666

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Gabriel ChipeLEOLA CommercialMore Info
818-482-3666

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.