117 Crooks Avenue,  Barstow CA, 92311 (Residential Income)

7,000 sqft
Status: Sold
MLS#: EV15054495
Skip Slideshow
Last Updated: 12/8/2016 9:36 PM
Description for 117 Crooks Avenue Barstow, CA 92311
PRICE DROPPED TO $250K Cash offer 22 units, 5 buildings! CURRENTLY 18% CAP, PROFORMA CAP is 28%!!! (reduce vacancy to 10%, place individual elec and gas meters on site- check with city, etc) This is an opportunity to buy with cash flow. Asking only $12K per unit! THIS IS PERFECT FOR A VALUE ADD INVESTOR!!!! Tenants are all month to month but most have been there for years. Currently at market rent or below. Landlord pays utilities (new owner can place separate meters and help reduce expenses!) Also if new owner self managed then the $8,000 in management fees would disappear. APPROX - buyer to do own investigations: If You can get the vacancy to 10% and expenses to 40% of gross.... GROSS SCHEDULE INCOME: 133140 VACANCY ALLOWANCE $/%: 32760/25 GROSS OPERATING INCOME: 100380 OPERATING EXPENSE $/%: 67168/50% NET OPERATING INCOME: 33212 CAP - 18% GROSS SCHEDULE INCOME: 133140 VACANCY ALLOWANCE $/%: 13314/10 GROSS OPERATING INCOME: 119826 OPERATING EXPENSE $/%: 47930/40% NET OPERATING INCOME: 71896 CAP - 28% (buyer to verify)
Price
Sold Price:
$250,000
Sold Date:09/29/2015
San Bernardino
7,000 (approx)
EV15054495
Closed
Description
PRICE DROPPED TO $250K Cash offer 22 units, 5 buildings! CURRENTLY 18% CAP, PROFORMA CAP is 28%!!! (reduce vacancy to 10%, place individual elec and gas meters on site- check with city, etc) This is an opportunity to buy with cash flow. Asking only $12K per unit! THIS IS PERFECT FOR A VALUE ADD INVESTOR!!!! Tenants are all month to month but most have been there for years. Currently at market rent or below. Landlord pays utilities (new owner can place separate meters and help reduce expenses!) Also if new owner self managed then the $8,000 in management fees would disappear. APPROX - buyer to do own investigations: If You can get the vacancy to 10% and expenses to 40% of gross.... GROSS SCHEDULE INCOME: 133140 VACANCY ALLOWANCE $/%: 32760/25 GROSS OPERATING INCOME: 100380 OPERATING EXPENSE $/%: 67168/50% NET OPERATING INCOME: 33212 CAP - 18% GROSS SCHEDULE INCOME: 133140 VACANCY ALLOWANCE $/%: 13314/10 GROSS OPERATING INCOME: 119826 OPERATING EXPENSE $/%: 47930/40% NET OPERATING INCOME: 71896 CAP - 28% (buyer to verify)
Listing Information
Property Type: Cluster, Other
0.96 Acres 41,610 sq.ft. 7,000 (approx)
$35.71 1966
Public Water Service
22 Total
Neighborhood
Room Information
Exterior / Lot Features
10 Parking Spaces
Financial Considerations
0181011510000
$133,140 Income ,$67,168Expense
Listing Price History

Barstow Real Estate

Barstow is located in California. Barstow, California 92311 has a population of 22,836.

The median household income in Barstow, California 92311 is $44,623. The median household income for the surrounding county is $54,750 compared to the national median of $53,046. The median age of people living in Barstow 92311 is 32.9 years.

Loading nearby sales and history ...
Courtesy: DEBRA HANNA BROKER DEBRA HANNA
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this website. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Information is deemed reliable but is not guaranteed.

Ask a Question?
Send Now
Start a no spam email conversation
My Drive Time
Enter your work address to view actual drive times with traffic for this property

No    Yes

Calculate & Save Calculating ...
Calculating ...
Here is the weekday INRIX Drive Time from this property to .

When you register, you will receive ...

Weekday drive times
Plus all these great features

  • Drive Time calculations that inform you about traffic conditions from the property you are interested in to your place of work, along with driving directions.
  • Automatic Drive Time calculations for every property. Simply enter your work address to start.
  • Access to INRIX Drive Time data that is used by Garmin, Pioneer, Toyota, and many other well-known companies.
  • Other benefits from being a registered user including: saved properties, saved searches, price alerts, notes, direct access to your agent and much more!

Register or login today to take advantage of Drive Time
Nearby homes for sale
Recent sales nearby