
Apple Valley, California 92308
This four-unit multifamily High-Potential Investment Opportunity is listed at a List Price of $725,000, positioned well below the $825,322 Fair Market Value by 12%. This valuation gap provides $100,322 in Instant Equity. Featuring a desirable all 2-bedroom, 2-bathroom unit mix, six garages, and onsite laundry, the property offers significant ancillary income potential. With a Condition Rating of 4, the asset requires modernization to maximize long-term returns. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Developers seeking a stable multifamily asset.
Property is moderate renovation needed.
Built in 1966, the property is significantly dated. The kitchen features older painted cabinetry, laminate countertops, and aging appliances showing wear. While the units appear functional and move-in ready for tenants, the presence of popcorn ceilings and the overall age of the structure suggest that systems and interiors require updates to meet modern standards.
The property features a highly desirable all 2-bedroom, 2-bathroom configuration across all four units, which is superior to typical multi-family layouts and maximizes rental appeal.
With six garages and an onsite laundry room, the property offers multiple revenue streams beyond base rents, significantly enhancing the overall cap rate for investors.
The unique wrap-around driveway and full concrete walkways provide excellent accessibility and a spacious atmosphere that sets it apart from standard high-density fourplexes.
Built in 1966, the property may require significant capital expenditures for modernizing major systems like plumbing, electrical, or HVAC to maintain long-term viability.
The list price of $725,000 represents a substantial increase from its $460,000 sale price in 2020, which may challenge investors looking for high immediate cash-on-cash returns.
Rare opportunity to acquire a four-unit property featuring ALL FOUR 2-bedroom, 2-bathroom units. How can you go wrong with that unit mix? It gets better. The property has six garages plus an onsite laundry room for tenants, creating additional income opportunities beyond the base rents. The building has a cool atmosphere and a layout that sets it apart from the typical fourplex, with full concrete walkways and a wrap-around driveway providing easy access throughout the property. The combination of the unit mix, garages, laundry room, and overall layout makes this a unique smaller multifamily asset. The property provides an attractive opportunity for an investor looking to add a manageable multifamily asset to their portfolio in the Victor Valley. With continued rental demand throughout the High Desert and limited availability of smaller multifamily investment properties, 22129 Tehama Road represents an opportunity to acquire a well-located four-unit asset with multiple income streams and long-term appreciation potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 6.5 |
| Baths | 0.0 | 3.5 |
| Square foot | 4,032 | 2,939.125 |
| Lot Size | 18,800 | 21,000 |
| Price | $725.0K | $626.9K |
| Price per sq ft | $180 | $209 |
| Built year | 1966 | 1975 |
| HOA | $0 | $0 |
| Days on market | 44 | 97 |
Sep 10, 2026
$725,000
Initial Listing
Oct 19, 2020
$460,000
Public Record
May 20, 2014
$204,000
Public Record
Oct 22, 2009
$140,000
Public Record
Jul 16, 2008
$500
Public Record
Apr 25, 2008
$500
Public Record
Jan 9, 2006
$470,000
Public Record