Fredricks Apartments
Type: Multifamily
511-517 East Fredricks St Barstow, CA 92311
Total Number of Units: 21
Year Built: 1959-1964
Sale Price: $2,200,000
Price per Unit: $104,762
Price per Square Foot: $169.65
CAP Rate: 5.45%
GRM: 8.92
Downpayment: $990,000
Net Operating Income: $119,989
Rentable Square Feet: 12,968
Lot Size: .620
Unit Type
1B1B
No. of Units
21
Le Investment Group is pleased to present 511–517 East Fredricks Street, a 21-unit multifamily investment opportunity in Barstow, CA. Offered at $2,200,000 ($104,762/unit), the property features all one-bedroom/one-bathroom units across two buildings situated on approximately 0.62 acres. The asset offers a 5.45% Current Cap Rate with upside to an estimated 7.18% ProForma Cap Rate through continued rental growth and operational efficiencies. Additional highlights include tenant-paid gas/electricity, RUBS and laundry income, strong workforce housing demand, and proximity to I-15, I-40, Marine Corps Logistics Base, and the proposed Brightline West rail development. This is a strong opportunity to acquire a cash-flowing, below-replacement-cost multifamily asset in a key logistics corridor.
