6038 Bagley Avenue, 29 Palms, California 92277, 29 Palms, 92277 - bed, bath
ACTIVE$979,900
6038 Bagley Avenue, 29 Palms, California 92277
0Bed
0Bath
10,450Sqft
44,866Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
High-Yield Investment: A multi-unit property with 10 units, explicitly marketed as a 'lucrative investment opportunity' with strong income potential.
Top Cons:
Property Age: Constructed in 1947, the property's age may lead to higher long-term maintenance costs and potential for aging infrastructure or systems despite being 'well-maintained'.
Compared to the nearby listings
Price:$979.9K vs avg $650.0K (+$329,950)50%
Size:10,450 sqft vs avg 6,151 sqft50%
Price/sqft:$94 vs avg $13350%
More Insights
Built in 1947 (78 years old).
Condition: The property was built in 1947, making it 77 years old. While the description states 'well-maintained units' with a 'solid rental track record,' and exterior images show functional buildings, there are no interior photos to assess the condition, style, and features of kitchens, bathrooms, appliances, flooring, or electrical devices. Given its age, it's highly probable that interiors are dated and would require minor updates to meet modern standards, aligning with the 'Fair' category. The visible mini-split AC units suggest some functional updates, but without interior views, a higher score cannot be justified.
Year Built
1947
Close
-
List price
$980K
Original List price
$1.25M
Price/Sqft
$94
HOA
-
Days on market
-
Sold On
-
MLS number
DW24161111
Home ConditionFair
Features
Good View:
View-
About this home
***MASSIVE PRICE REDUCTION***Welcome to a lucrative investment opportunity nestled in the heart of 29 Palms. This multi-unit property, located at 6038 Bagley Avenue, boasts 10 spacious and well-maintained units, offering a blend of comfort and convenience. This property is an ideal addition to any investment portfolio, offering a winning combination of current income and future appreciation. The area is known for its proximity to Joshua Tree National Park, making it a popular spot for nature lovers and those seeking outdoor activities. Don't miss this opportunity to acquire a valuable piece of real estate in a growing community. 10 well maintained units the have a solid rental track record. Mix of a Studio, 1's, 2's & Onsite laundry. Also, each unit is individually metered for electricity! Current Actual Cap rate 7.42%!!! and GRM is 9.8%!!
Nearby schools
4/10
Oasis Elementary School
Public,•K-6•0.5mi
2/10
Palm Vista Elementary School
Public,•K-6•1.8mi
4/10
Twentynine Palms Junior High School
Public,•7-8•1.3mi
5/10
Twentynine Palms High School
Public,•9-12•0.9mi
Condition Rating
Fair
The property was built in 1947, making it 77 years old. While the description states 'well-maintained units' with a 'solid rental track record,' and exterior images show functional buildings, there are no interior photos to assess the condition, style, and features of kitchens, bathrooms, appliances, flooring, or electrical devices. Given its age, it's highly probable that interiors are dated and would require minor updates to meet modern standards, aligning with the 'Fair' category. The visible mini-split AC units suggest some functional updates, but without interior views, a higher score cannot be justified.
Pros & Cons
Pros
High-Yield Investment: A multi-unit property with 10 units, explicitly marketed as a 'lucrative investment opportunity' with strong income potential.
Attractive Financial Metrics: Boasts a high actual Cap Rate of 7.42% and a favorable Gross Rent Multiplier (GRM) of 9.8, indicating strong cash flow.
Reduced Operating Costs: All units are individually metered for electricity, transferring utility expenses to tenants and maximizing landlord profitability.
Proven Rental Performance: Features a 'solid rental track record' and units described as 'well-maintained,' suggesting stable occupancy and reduced immediate capital expenditures.
Strategic Location Advantage: Proximity to Joshua Tree National Park enhances tenant appeal, attracting a consistent pool of renters and supporting future property appreciation.
Cons
Property Age: Constructed in 1947, the property's age may lead to higher long-term maintenance costs and potential for aging infrastructure or systems despite being 'well-maintained'.
Market Size & Diversity: Located in 29 Palms, a smaller community, which might present limitations in market depth, tenant diversity, or long-term economic growth compared to larger urban centers.
Significant Price Adjustment: The 'MASSIVE PRICE REDUCTION' from the original list price, while beneficial for buyers, could signal an initial overpricing or potential underlying issues that necessitated such a large drop, requiring thorough due diligence.