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16377 Wato Road, Apple Valley, California 92307, Apple Valley, 92307 - bed, bath

16377 Wato Road, Apple Valley, California 92307 home-pic-0
ACTIVE UNDER CONTRACT$2,100,000
16377 Wato Road, Apple Valley, California 92307
0Bed
0Bath
9,384Sqft
22,250Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Investment Opportunity: This is a rare, first-time-on-market, 10-unit apartment complex, explicitly described as a stable, income-generating asset with a solid history and future potential, built and owned by the original owner.
Top Cons:
Inconsistent Unit Condition: While some units are rehabbed, the description implies not all units have been updated, which could lead to varying tenant experiences and necessitate future capital expenditure to bring all units to a consistent modern standard.

Compared to the nearby listings

Compared against 0 nearby listings

More Insights

Built in 1985 (40 years old).
Condition: Built in 1985, the property has undergone partial renovations, with 'some apartments' being rehabbed to ensure a 'modern appeal.' The provided images of a rehabbed unit (Unit #1) showcase a kitchen with modern stainless steel appliances, updated granite-like countertops, and contemporary cabinetry. The bathroom in this unit also features updated vanity, fixtures, and a clean tub/shower combo. Flooring includes modern tile and LVP/laminate. While the property's age suggests potential for older systems in un-rehabbed units, the 'well-maintained' description and the condition of the shown rehabbed unit indicate a move-in ready state for those units, aligning with the 'Good' criteria for properties with significant updates within the last 5-15 years.
Year Built
1985
Close
-
List price
$2.1M
Original List price
$2.1M
Price/Sqft
$224
HOA
-
Days on market
-
Sold On
-
MLS number
HD25189446
Home ConditionGood
Features
Good View: City Lights
Patio
ViewCity Lights

About this home

APPLE VALLEY - Welcome to an exceptional and rare investment opportunity! For the first time on the market, this well-maintained ten (10) unit apartment complex, built and owned by the original owner, is now available. The apartments sit on two parcels (.51 and .52 acres +/-) totaling approximately one acre. Total square footage of the buildings is 9,384 +/-. Two bedrooms, one and a half baths, living room, kitchens offer cooktops, ovens and dishwashers, private patios. Rooms are bright and open, some ceiling fans. There are two double garages and 8 single garages, additional parking on property. Some apartments have been rehabbed, ensuring a modern appeal and tenant satisfaction. Strategically positioned, the property offers convenience. It is located close to St Marys Medical Center and a strong tenant base of medical and office professionals. Easy access to the I-15 makes for commuting and further enhancing the property's appeal. This is a stable, income generating asset with a solid history and unlimited future potential. Don't miss this chance to acquire a meticulously, cared-for income producing property in a highly sought-after location. The interior pictures of the rehabbed Unit #1 are a sample of the layout of the other apartments. This is an opportunity you won't want to miss!

Nearby schools

4/10
Desert Knolls Elementary School
Public,•K-6•1.4mi
3/10
Granite Hills High School
Public,•9-12•6.9mi
Condition Rating
Good
Built in 1985, the property has undergone partial renovations, with 'some apartments' being rehabbed to ensure a 'modern appeal.' The provided images of a rehabbed unit (Unit #1) showcase a kitchen with modern stainless steel appliances, updated granite-like countertops, and contemporary cabinetry. The bathroom in this unit also features updated vanity, fixtures, and a clean tub/shower combo. Flooring includes modern tile and LVP/laminate. While the property's age suggests potential for older systems in un-rehabbed units, the 'well-maintained' description and the condition of the shown rehabbed unit indicate a move-in ready state for those units, aligning with the 'Good' criteria for properties with significant updates within the last 5-15 years.
Pros & Cons

Pros

Strong Investment Opportunity: This is a rare, first-time-on-market, 10-unit apartment complex, explicitly described as a stable, income-generating asset with a solid history and future potential, built and owned by the original owner.
Strategic Location & Tenant Base: The property is strategically located close to St. Mary's Medical Center, attracting a strong tenant base of medical and office professionals, and offers easy access to the I-15 for convenient commuting.
Ample Parking & Large Lot Size: The complex provides significant parking with two double garages, eight single garages, and additional on-property parking, situated on approximately one acre across two parcels, offering space and convenience.
Partial Modernization: Some apartments have been recently rehabbed, ensuring a modern appeal and contributing to tenant satisfaction, which can help maintain competitive rental rates.
Well-Maintained Property: The property is explicitly stated to be 'well-maintained' and 'meticulously cared-for,' suggesting a lower immediate need for deferred maintenance on common areas.

Cons

Inconsistent Unit Condition: While some units are rehabbed, the description implies not all units have been updated, which could lead to varying tenant experiences and necessitate future capital expenditure to bring all units to a consistent modern standard.
Age of Property & Infrastructure: Built in 1985, the property's age, despite being well-maintained, suggests that major infrastructure components (e.g., plumbing, electrical, HVAC systems) may be nearing the end of their useful life and could require significant capital investment in the near future.
Lack of Detailed Financials: The listing highlights the property as an 'income generating asset' but lacks specific financial details such as current rental income, occupancy rates, operating expenses, or cap rate, which are crucial for a comprehensive investment analysis.

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