6372 Mesquite Springs Rd
Twentynine Palms, CA 92277
8 UNITS PERFORMING AT 39.97% CASH ON CASH! · Multifamily Property For Sale · 8 Units

This offering is a beautifully upgraded and taken care of eight units in Twentynine Palms. It's location is as good as it can get, near the main & main intersection of Adobe Road and Twentyine Palms Highway. This complex consists of six 2 bedrooms 2 baths, and two 2 bedrooms 1 baths. Please note that the 2 bedroom 2 bath option, is the most sought after bedroom/bath mix in Twentynine Palms. This strategic location benefits tremendously from the super employment opportunities very nearby. Just down the street is one of the largest Marine bases in the world. And Marine's make great tenants. Further, this complex is just a short walking distance from Tortoise Rock Casino, which is ideal for this casino's employees In the near future, the local paper has indicated that Iron Age Mining Company is coming in, just blocks away. This is supposed to bring in 400 jobs. Finally, since this complex is within walking distance to all the major retailers, this complex is ideally beneficial for its tenants to walk and shop as well as walk to work at the nearby by shopping center retailers. All the units have wall heat/air as well as swamp coolers in each unit. And most of the units are tile floored throughout. What's really astonishing about this complex is its returns. It's priced extremely low for the rent it produces as you will see directly below. At actual rents (we're 100% full), we put out $60,720 gross rent per year annually. Also, we put out an eyeopening 8.73 Gross Rent Multiplier, a 10.07% Cap Rate, and a robust 22.05% Cash on Cash Return. AND at market rents, we put out $83,040 gross rent per year annually. Also, we put out an astonishing 6.38 Gross Rent Multiplier, a 14.28% Cap Rate, and an unheard of 38.90% Cash on Cash Return. To view the income, expenses, returns, and rent comp, please go to the links within this listing. In regard to the RENT COMPS attached. I could only find a nearby 2 bedroom 1 bath, and couldn't find a nearby 2 bedroom 2 bath. So as you can see, this 2 bedroom 1 bath at 6299 Yucca Street has rented for $850 monthly. In the spirit of figuring conservatively, I figured all market rents at 850 monthly even thought six of our eight units are 2 bedroom 2 bath. If you are a direct buyer (w/o an agent), seller wants to know in advance since seller get's a commission discount, and thus can give direct buyer's a better deal. Also, my staff and I will take great care of you, every step of the way. So please give us a call at 951-375-7433. And if you are an agent, please correspond through text only, and text us at 951-775-5799. We will text back with status by next day.