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PRICE REDUCED! Prime Location! Well maintained and well established 10 unit office space units with courtyard. A total of 5463 Sq'. Total rent is about $60,000 pa. and after direct expenses achieves a net income before taxes of $47,121. The property is well located in town with easy access and parking. Many of the tenants in the building are long term and turnover has been modest. The property has been upgraded in the past 5 years with a new roof, A/C units, parking asphalt and the cash assets include a $18,160 deposit with the Hi Desert Water Assessment for the sewer improvement project (i.e. a future expense that has been paid). Right behind Chase bank off Hwy 62. Great Opportunity! Close to Joshua Tree National Park! Owner May Carry with acceptable offer. Effective sales price is 840,000 - 18,000 (Water Assessment paid)= $ 822,000 which provides a cap rate of 5.7 per seller. GREAT OPPORTUNITY!
Property Type(s):
Commercial
| Last Updated | 8/12/2024 | Year Built | 1975 |
|---|---|---|---|
| Community | Central East | County | San Bernardino |
Price History
| Prior to Nov 28, '19 | $895,000 |
|---|---|
| Nov 28, '19 - Today | $840,000 |
Additional Details
| AREA | Central East |
|---|---|
| HEAT | Forced Air, Natural Gas |
| STORIES | 1 |
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Listed with Bennion Deville Homes
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