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Duplex - NEW CONSTRUCTION 332 ROBERTSON

2 Unit Apartment Building $345,000 ($172,500/Unit) 8.76% Cap Rate Ridgecrest, CA 93555

Investment Highlights

  • Solar, Car Charger, Concrete stamped floors, Energy efficient with LED lighting, all appliances and washer dryer included, Acrylic stucco

Executive Summary

Brand new duplex with solar. Tenants pay all utilities. stamped concrete floors for easy maintenance. Xeriscape front and back yards. Car chargers for each apartment, low cap expenditures for many years. 2x6 walls, fire sprinklers, Air Conditioner, 8.8kw Tesla solar system. $1450 per unit. Acrylic stucco, including eaves which is vastly superior to traditional stucco and maintenance free. Units come with 2-10 New Home Builders Warranty. China Lakes Naval Weapons Station in the midst of a 5 billion dollar building renovation and they are hiring a steady stream of engineers. There is a shortage of new multi family units.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income $34,800 $21.22
Other Income - -
Vacancy Loss - -
Effective Gross Income $34,800 $21.22
Taxes $3,790 $2.31
Operating Expenses $780 $0.48
Total Expenses $4,570 $2.79
Net Operating Income $30,230 $18.43

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual $34,800
Annual Per SF $21.22
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $34,800
Annual Per SF $21.22
Taxes
Annual $3,790
Annual Per SF $2.31
Operating Expenses
Annual $780
Annual Per SF $0.48
Total Expenses
Annual $4,570
Annual Per SF $2.79
Net Operating Income
Annual $30,230
Annual Per SF $18.43

Property Facts

Price $345,000
Price Per Unit $172,500
Sale Type Investment
Cap Rate 8.76%
Gross Rent Multiplier 10.8
No. Units 2
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Dormitory
Building Class B
Lot Size 0.14 AC
Building Size 1,640 SF
No. Stories 1
Year Built 2024
Parking Ratio 2.44/1,000 SF

Amenities

  • Smoke Detector

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Dishwasher
  • Microwave
  • Storage Space
  • Washer/Dryer
  • Washer/Dryer Hookup
  • Heating
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower
  • Double Pane Windows
  • Wheelchair Accessible (Rooms)
  • Quartz Countertops

Site Amenities

  • Fenced Lot
  • Car Charging Station
  • Individual Locking Bedrooms

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 2 $1,450 820

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
478-062-13-00-3
Land Assessment
$7,803
Improvements Assessment
$0
Total Assessment
$7,803
Annual Taxes
$3,790 ($2.31/SF)
Tax Year
2024

zoning

Zoning Code R-1, R (The unit is in a family neighborhood with almost exclusively single family homes.)
R-1, R (The unit is in a family neighborhood with almost exclusively single family homes.)
  • Listing ID: 26364947

  • Date on Market: 8/9/2022

  • Last Updated:

  • Address: 332 ROBERTSON, Ridgecrest, CA 93555

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