Desert Oasis | 11211 La Habra Ave
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Desert Oasis 11211 La Habra Ave
48 Unit Apartment Building $10,801,152 CAD ($225,024 CAD/Unit) 7.03% Cap Rate Adelanto, CA 92301
Investment Highlights
- ProForma CAP Rate of 7.03% With a ProForma GRM of 9.20.ProForma CAP Rate is Based on Leveling Off Current Rents.
- Roughly $350,000 in Capital Improvements.
- Ample Onsite Covered Parking & Private Patios for Tenants
- Attractive Current CAP Rate of 6.13% With a Current GRM of 10.57
- Pride Of Ownership, Absolute Turn Key, Financeable Asset.
- California High-Speed Rail (planned): Expected to pass nearby, potentially reducing travel time between Adelanto and major urban centers.
Executive Summary
The Desert Oasis Apartments are located on the corner lot of La Habra Avenue and Bellflower Street. This single story apartment building is placed on a 2.03-acre lot and is composed of (24) 1 Bedroom, 1 Bath units and (24) 2Bedroom, 1 Bath Units. The tenants are provided with secure onsite covered parking as well as access to the laundry facilities. Current ownership has invested $350k in capital improvements, including but not limited to installing new flooring, applying fresh paint, upgrading water heaters and A/C units, and constructing a retaining wall on the west side of the property.
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,125,176
|
$39.17
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$365,717
|
$12.73
|
| Net Operating Income |
$759,459
|
$26.44
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,125,176 |
| Annual Per SF | $39.17 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $365,717 |
| Annual Per SF | $12.73 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $759,459 |
| Annual Per SF | $26.44 |
Property Facts
| Price | $10,801,152 CAD | Apartment Style | Garden |
| Price Per Unit | $225,024 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.03 AC |
| Cap Rate | 7.03% | Building Size | 28,728 SF |
| Gross Rent Multiplier | 9.2 | No. Stories | 1 |
| No. Units | 48 | Year Built | 1988 |
| Property Type | Multifamily | Parking Ratio | 2.23/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $10,801,152 CAD |
| Price Per Unit | $225,024 CAD |
| Sale Type | Investment |
| Cap Rate | 7.03% |
| Gross Rent Multiplier | 9.2 |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.03 AC |
| Building Size | 28,728 SF |
| No. Stories | 1 |
| Year Built | 1988 |
| Parking Ratio | 2.23/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Patio
Site Amenities
- Laundry Facilities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 554 |
| 2+1 | 24 | - | 735 |
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PROPERTY TAXES
| Parcel Number | 0459-073-21 | Improvements Assessment | $7,882,731 CAD |
| Land Assessment | $222,352 CAD | Total Assessment | $8,105,083 CAD |
PROPERTY TAXES
Parcel Number
0459-073-21
Land Assessment
$222,352 CAD
Improvements Assessment
$7,882,731 CAD
Total Assessment
$8,105,083 CAD
zoning
| Zoning Code | R3, Adelanto (Multiple Residential) |
| R3, Adelanto (Multiple Residential) |
-
Anthony Le -
Darren Correa -
Le Investment Group
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Desert Oasis | 11211 La Habra Ave
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