1111 Apple Ave - Apartments FOR SALE


Wrightwood, CA 92397
$1,375,000 USD
818-482-3666
1111 Apple Ave, Wrightwood, CA for Sale
$1,375,000 USD
Apartments - FOR SALE
1/13
null | 5.67% Cap Rate

1111 Apple Ave
Wrightwood, CA 92397


HIGHLIGHTS

  • Rare opportunity to acquire a stabilized six-unit multifamily asset
  • Strong in-place cash flow, pride-of-ownership condition
  • Approximately 23.63% rental upside
  • All units renovated with new flooring and fresh interior paint
  • Two-car attached garages with direct unit access
  • Significant value-add potential

OVERVIEW

Leola Commercial, Inc. is proud to present 1111 Apple Avenue, a six-unit multifamily investment opportunity located in the highly desirable mountain community of Wrightwood, California. POSSIBLE SELLER FINANCING AVAILABLE. The property consists of six spacious two-bedroom, one-bathroom townhome-style units, each featuring an attached two-car garage with direct access. Designed to appeal to families and working professionals alike, the large floor plans, private patios, and secure covered parking provide both comfort and convenience. This well-maintained pride-of-ownership asset offers approximately 6,602 rentable square feet situated on an 18,489 square foot lot. All six units have been renovated with new flooring and fresh paint, creating strong in-place cash flow while still offering meaningful value-add potential. Capital improvements include a newer roof installed in 2022 and newer water heaters in most units. Current rents are approximately 23.63% below market, presenting a clear path for income growth. A savvy investor may further enhance returns by exploring the potential conversion of garages into ADUs (subject to local regulations) and adding additional parking at the rear of the property. The property benefits from convenient access to State Highway 2 and State Highway 38 (via the north), and is located approximately 15 miles from Interstate 15, supporting tenant demand and long-term investment stability.

FOR SALE DETAILS

PRICE

$1,375,000 USD

PRICE/SF

$208 USD /SF

# OF UNITS

6

PRICE/UNIT

$229,167

CAP RATE

5.67%

% 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.