Mariposa Apartments | 6419 Mariposa Ave
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Mariposa Apartments 6419 Mariposa Ave
12 Unit Apartment Building $1,399,000 ($116,583/Unit) 7.28% Cap Rate Twentynine Palms, CA 92277
Investment Highlights
- ProForma CAP Rate of 8.81% With a ProForma GRM of 7.11 & Current CAP Rate of 7.28% / New Interior & Exterior Renovations
- New Vinyl Flooring for Each Unit / Washer / Dryer Hookups Installed for Each Unit / New Split Heating / AC Units for Each Unit
- Home to the Famous Joshua Tree Music Festival Showcasing a Variety of Genres and Often Features Local and Regional Artists
- Wrought Iron Fencing Around the Property / New Vinyl Fencing Giving Each Tenant Private Backyards / New Interior & Exterior Paint
- New Water Heaters for Majority of the Units / New Windows for Each Unit / Within Minutes from Many Major Regional Employers Located Minutes Away from
Executive Summary
This 12 Unit Apartment Community is located on 6419 Mariposa Avenue, Twentynine Palms, CA 92277 . The property consists of Three (3) Studios, Five (5) One- Bedroom / One Bathroom Units, Two (2) Two- Bedroom / One Bathrooms Units, One (1) Two-Bedroom / Two Bathroom Unit, & One (1) Three-Bedroom / One Bathroom Unit. Pride of ownership has been a priority for current ownership as many interior and exterior renovations have been done to the property over the last few years. The properties are currently is situated on a large 2.64 Acre Lot.
Twentynine Palms is a city located in the Mojave Desert of Southern California, known for its proximity to Joshua Tree National Park, a renowned destination for desert landscapes and outdoor activities. The city serves as a gateway to the national park and offers a variety of services and accommodations to visitors. Twentynine Palms is also home to a thriving arts community, a military presence with the Twentynine Palms Marine Corps Base, and several cultural and natural attractions in the surrounding area, making it a hub for nature enthusiasts, artists, and those seeking a desert adventure.
Twentynine Palms is a city located in the Mojave Desert of Southern California, known for its proximity to Joshua Tree National Park, a renowned destination for desert landscapes and outdoor activities. The city serves as a gateway to the national park and offers a variety of services and accommodations to visitors. Twentynine Palms is also home to a thriving arts community, a military presence with the Twentynine Palms Marine Corps Base, and several cultural and natural attractions in the surrounding area, making it a hub for nature enthusiasts, artists, and those seeking a desert adventure.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,399,000 | Property Subtype | Apartment |
| Price Per Unit | $116,583 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.28% | Lot Size | 2.64 AC |
| Sale Conditions | 1031 Exchange | Building Size | 8,425 SF |
| Gross Rent Multiplier | 7.77 | No. Stories | 1 |
| No. Units | 12 | Year Built | 1948 |
| Property Type | Multifamily |
| Price | $1,399,000 |
| Price Per Unit | $116,583 |
| Sale Type | Investment |
| Cap Rate | 7.28% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 7.77 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.64 AC |
| Building Size | 8,425 SF |
| No. Stories | 1 |
| Year Built | 1948 |
Unit Amenities
- Microwave
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | $925.00 | 500 |
| 1+1 | 5 | $1,175 | 700 |
| 2+1 | 2 | $1,400 | 800 |
| 2+2 | 1 | $1,400 | 850 |
| 3+1 | 1 | $1,650 | 975 |
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PROPERTY TAXES
| Parcel Number | 0615-103-03 | Total Assessment | $456,320 (2024) |
| Land Assessment | $90,203 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $366,117 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
0615-103-03
Land Assessment
$90,203 (2024)
Improvements Assessment
$366,117 (2024)
Total Assessment
$456,320 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | CT |
| CT |
-
Albert Le -
Aaron Sanders -
Le Investment Group
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Mariposa Apartments | 6419 Mariposa Ave
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