RECENT PRICE IMPROVEMENT 6.27% CAP RATE
7 Units + Single family home on separate APN. The property consists of a total of Five (5) separate APNs. 526 031 16, 526 031 17, 526 031 18, 526 031 19, & 526 031 006.
Highlights: Strong yield with a current CAP Rate of 6.27% with a Pro Forma CAP Rate of 7.08% achievable through market rent adjustments / Current GRM of 10.27 with a Pro Forma GRM of 9.15.
Community located at 5029250330 Ramona Street, a well located eight unit multifamily property in Cabazon, California. Built in 1950, this single story asset consists of seven detached buildings situated on a generous 0.72 acre lot, offering approximately 5,750 square feet of rentable living area. The unit mix features a variety of layouts well suited for tenants seeking affordability and privacy, including five (5) one bedroom one bath units, one (1) two bedroom one bath unit, one (1) two bedroom one bath single family residence, and one (1) three bedroom one and a half bath single family residence. Most units are detached, providing residents with a more residential feel and reduced density compared to typical multifamily properties. Each unit is separately metered for gas and electricity, minimizing owner paid utilities.