19087 Allegheny Rd - Apartments FOR SALE


Apple Valley, CA 92307
$3,300,000 USD
909-418-2071
19087 Allegheny Rd, Apple Valley, CA for Sale
$3,300,000 USD
Apartments - FOR SALE
1/59
null | 5.58% Cap Rate

19087 Allegheny Rd
Apple Valley, CA 92307


HIGHLIGHTS

  • Rare Condo-Style Single-Story Asset: Features a desirable composition of 16 two-bedroom/two-bathroom single-story flats
  • Compelling 26% Rental Upside: Income-producing investment boasting a strong 5.58% entry CAP rate with a clear path to a 7.75% pro forma yield
  • Extensive Recent Capital Improvements: Ownership has recently invested in a resurfaced parking lot, redone decks and railings
  • Premium In-Unit Amenities: Units feature open-beam ceilings, brick fireplaces, central A/C, and interior laundry hookups
  • Superior Parking and Storage: Every unit includes a detached garage and two large private patios, providing significantly more utility
  • Strategic Proximity to Major Medical Hubs: Located just 1.4 miles (3 minutes) from St. Mary Medical Center

OVERVIEW

CBRE, as the exclusive advisor, is pleased to present the exclusive investment opportunity for Allegheny Arms Apartments, a 16-unit multifamily community located in the high-growth market of Apple Valley. Located at 19087 Allegheny Road, Apple Valley, CA, this well-located asset sits just a block off Highway 18, providing tenants with a premium location and unparalleled convenience to essential retail and lifestyle amenities. Its prime positioning offers quick access to destinations like St. Mary Medical Center, Desert Mountain Plaza, and Apple Valley Center, all within a short drive. For regional access, tenants enjoy minutes-long commutes to Victor Valley College, the Mall of Victor Valley, and the 15 Freeway. The property’s proximity to Highway 18 allows for direct connection to other major cities within San Bernardino County and is conveniently located on the way to Las Vegas. Furthermore, the community is within a short driving distance of national retailers like Costco in Victorville and a variety of local shops and restaurants. Property Highlights & Unit Details Allegheny Arms Apartments represents a rare multifamily asset in the market, consisting of 16 single-story condo-style units spanning a generous ±60,767 SF lot size with a ±17,360 SF building size. Built in 1987, the property features a uniform unit mix of sixteen 2-bedroom/2-bathroom single-story flats, averaging approximately 1,085 SF per unit. The community features low-maintenance, drought-resistant landscaping complemented by lush, mature greenery and a tranquil outdoor seating area, offering a serene environment designed to reduce overhead while maintaining high tenant retention. The architecture is defined by open-beam ceilings and brick fireplaces, creating a spacious and inviting interior feel. Interior features are equally impressive, boasting detached garages, two large private patios per unit, and in-suite laundry connections. The investment profile is further enhanced by recent infrastructure updates, including a resurfaced parking lot, redone decks and railings, and a completely relandscaped front exterior. Additional in-unit comforts include central air and heating, dishwashers, and breakfast bars. Investment Stability & Buyer Profile This stable, well-maintained unit base provides immediate income security and remains a highly attractive offering for residents seeking quality, single-story housing in a convenient, well-established location. Whether for a first-time purchaser, a seasoned institutional investor, or a 1031 exchange buyer, Allegheny Arms Apartments offers long-term stability and an exceptional foothold in the thriving San Bernardino County submarket.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$104 USD /SF

# OF UNITS

16

PRICE/UNIT

$206,250

CAP RATE

5.58%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

16

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

60,767 SF

ZONING

R2, Apple Valley

APN/PARCEL ID

0473-037-27,0473-037-28

ASK ABOUT THIS PROPERTY

Eric ChenCBRE, Inc.More Info
909-418-2071

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Eric ChenCBRE, Inc.More Info
909-418-2071

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