Riverview Apartments consists of (16) 2 Bd/2Ba units and (4) 3 Bd/2 Ba townhouse style units. The units average over 1,000 sq. ft., and all units have a large balcony or patio. The 2 Bd/2 Ba units also include a tub and kitchen pantry. The building features a large courtyard and newly renovated pool. Each unit has 1 car port space, which includes a lockable storage unit, and there is ample open parking on site. At the list price, the going in cap rate is 6.10% (based on the 2017 Actual Collected Income). There is significant rent upside achieved by bringing the rents to market, as well as an extremely high occupancy history. The property (approximately 7 miles from Victorville) boasts amazing views of the valley and the San Bernardino Mountains. The below rents are based off the current average rent/unit for the 2 Bd/2 Ba and 3 Bd/2 Ba units. The full Offering Memorandum is included as an attachment to this listing.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
