List Price $699,000 - Closed
Apartment complex-4,716 sqft, 19,000 SQFT LOT
Rare 6-Plex within walking distance of Frontier Café and revitalized Old Town. Short drive to Pioneertown and renown Pappy & Harriet's. Close to Joshua Tree and National Park. Fully occupied, excellent investment. Updated. Each unit has its own carport and patio. Ideal opportunity for investor searching for an under-utilized rising market where demand for rental properties has outpaced availability. With quickly rising rents in area, a prudent investor over time could possibly increase rents by 25% on par with some similar units in the area, allowing buyer to realize a 7% capitalization rate and possible 30% internal rate of return over a five year period (buyer to check).
