6563 Oasis Avenue
29 Palms, CA, 92277 $ 1,000,000
Bedrooms18 Baths33.0 Sq 2,960 Monthly Estimate*
$ 6,646
Listed by Commercial Asset Advisors
for $1,000,000 with 18 bedrooms and 33 full baths. This 2,960 square foot home was built in 1936 on a lot size of 0.6.
Commercial Asset Advisors is pleased to present a recent price reduction on Palm Oasis, the highest cap rate Multifamily acquisition opportunity in drivable Sunny Southern California! 6563 Oasis Ave is a fully renovated multifamily asset producing a massive 8.92% cap rate in-place and a 9.84% proforma cap rate with over $132k in current gross scheduled income. The forecasted aggregate annual return is a MASSIVE 25% aggregate annual return when utilizing financing, a forecasted $32k+ in annual tax depreciation, and a historical 2-3% annual appreciation. The asset provides an investor with the unique opportunity to acquire a truly turnkey multifamily holding in Sunny Southern California with a qualified & stable tenant base next to the US's largest Military Training Base to produce superior returns to market rate t-bills, bonds, etc while also receiving the various tax benefits and appreciation returns of California real estate. The property has undergone extensive capital improvements in the last 18 months including but not limited to all new plumbing supply, electrical, roofs, windows, HVAC, quartz countertops, vinyl flooring, new cabinetry, fencing, landscaping, stucco, and paint. The City of Twentynine Palms rests in the Mojave Desert of Southern California located in between Los Angeles and Phoenix, Arizona. The city is home to Joshua Tree National Park headquarters and north entrance, one of the most popular national parks in the United States. It is also the proud host of the Marine Corps Air Ground Combat Center, the world‘s largest Marine Corps training base. Locals of Southern California are familiar with Twentynine Palm’s proximity to the beautiful vacation town of Palm Springs and Indio, CA, the host of one of the World’s most famous music festivals, Coachella. The city offers a variety of amenities, including restaurants, shops, and parks. There are also a number of outdoor activities available, such as hiking, camping, rock climbing, and dirt biking. Twentynine Palms has a mild climate year-round with temperature ranges from 65 degrees Fahrenheit in the winter to 100 degrees Fahrenheit in the summer.
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FeaturesGeneralSewer SepticTank
Zoning Multifamily
HOA 0.0
Garage Spaces 0.0
Pool Features None
Year Built 1936
Gross Income 128628.0
Community Features NearNationalForest
County San Bernardino
Net Operating Income 82450.0
Operating Expense 42320.0
Insurance Expense 0.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions GPS
City 29 Palms
Entry Location street
View Y/N N
Senior Community Y/N N
Total Units 9
MLS Area DC726 - Four Corners
Lot Size Square Feet 26136.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 9
Street Name Oasis
Listing Terms Conventional
Property Attached Y/N Y
Land Lease Y/N N
Electric Expense 0.0
Home Warranty Y/N N
Fuel Expense 0.0
Trash Expense 0.0
Water Sewer Expense 0.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Virtual Tour https://www.propertypanorama.com/instaview/crmls/PTP2402260
Days on Market 23
Building Area Units SquareFeet
Standard Status Active
Tax Lot 0617-103-05-0000
Total Actual Rent 10395.0
Taxes 11601.0
Cap Rate 7.5
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ExteriorLot Features Item1115UnitsAcre
Total Parking 0.0
Lot Size Area 0.6
Number of Buildings 3
Spa N
Building Area Total 2960.0
Lot Size Acres 0.6
Lot Size Units Acres
Lot Size Source PublicRecords
Number of Separate Water Meters 1
Number of Separate Gas Meters 1
Number of Separate Electric Meters 1
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 1
Common Walls Item1CommonWall
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Avenue
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N N
Total Baths 0
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* Excluded FeaturesList ByCommercial Asset AdvisorsBroker
Affordability Calculator
- Monthly Principal & Interest
- $6,646
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in 29 Palms, CA
Average List Price $768,150
Percent of Sale Price 23%
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
5/8/2024 | $1,000,000 | -9.01% | Price Down |
4/23/2024 | $1,099,000 | | Listed Price |