Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

7

Building size

4,945 sqft

Lot size

26,040 sqft

Year built

1985

Stories

1

Garage spaces

5

Heating

Forced Air,Central

Cooling

Central Air,Ductless

Pool

None

Status

Active

Days on market

110

MLS #

244438384

About this property

Exceptional opportunity to acquire a well-maintained 7-unit apartment community in the established Harmony Acres neighborhood of Twentynine Palms. Situated on three contiguous parcels totaling approximately 0.59 acres, the property offers a desirable unit mix of five 2-bedroom, 1-bath units and two studios, providing strong in-place cash flow with additional upside through the lease-up of one currently vacant 2-bedroom unit. All seven units have been extensively renovated and feature upgraded kitchens and bathrooms, granite countertops, updated cabinetry, tile flooring, recessed lighting, dual-pane windows, and upgraded sliding glass doors. The five 2-bedroom units are equipped with ducted central heating and air conditioning powered by new York rooftop HVAC systems, while both studio units feature energy-efficient mini-split HVAC systems. The property also features five detached garages, on-site laundry providing additional income, ample off-street parking, and low-maintenance desert landscaping. Gas and electric are separately metered for the 2-bedroom units, while the owner pays utilities for the studio units. Conveniently located just north of CA-62 with quick access to downtown Twentynine Palms, the Marine Corps Air Ground Combat Center, and Joshua Tree National Park, the property benefits from rental demand driven by military personnel, tourism, and the area’s continued growth. Property must be sold concurrently with 6424 Athol Avenue, Twentynine Palms, creating a rare opportunity to acquire a 13-unit apartment portfolio. Interior photographs are representative of the quality of renovations completed throughout the property and are provided for reference only. They do not depict any specific unit, current vacancy, or current condition. All units are subject to an existing affordable housing covenant. Sale includes APNs 0618-254-18-0000, 0618-254-19-0000, and 0618-254-20-0000.

Location

6321 Yucca

29 Palms, San Bernardino, CA, 92277