Fredricks Apartments
Type: Multifamily
511-517 East Fredricks St Barstow, CA 92311
Total Number of Units: 21
Year Built: 1959-1964
Sale Price: $1,995,000
Price per Unit: $95,000
Price per Square Foot: $153.84
CAP Rate: 6.12%
GRM: 8.09
Downpayment: $917,700
Net Operating Income: $122,168
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, California. Offered at $1,995,000 ($95,000/unit), the property features a 6.12% Current Cap Rate with upside to an 8.03% ProForma Cap Rate through continued rental growth. The asset consists entirely of one bedroom units, offers tenant paid gas and electricity, and is strategically located near Interstate 15, Interstate 40, the Marine Corps Logistics Base, and the proposed Brightline West high speed rail project. This is an excellent opportunity to acquire a cash flowing value add asset in one of Southern California’s growing logistics markets.
