6563 Oasis Ave is a fully rebuilt multifamily asset in Twentynine Palms, California. The property has undergone extensive capital improvements in the last 18 months, including all new plumbing, full electrical, roofs, windows, HVAC, quartz countertops, vinyl flooring, cabinetry, fencing, landscaping, stucco, and paint. This turnkey investment property produces an above-market in-place cap rate of 7.50% and a proforma cap rate of 8.40%. The property consists of (4) Studios, (4) One bedrooms , and (1) Two bedroom / One bath unit. With its highly qualified and stable U.S. Military tenant base, this asset is sure to generate superior returns to market rate t-bills and bonds. In addition to the strong cash flow, investors will also benefit from the various tax benefits and appreciation returns of California real estate. This is a rare opportunity to acquire a truly turnkey multifamily asset at above-market return metrics with a strong tenant base and excellent upside potential. 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.
Property Details
Price:
$1,099,000
MLS #:
PTP2402260
Status:
Active
Baths:
0
Address:
6563 Oasis Avenue
Type:
Residential Income
City:
29 Palms
Listed Date:
Apr 5, 2024
State:
CA
ZIP:
92277
Lot Size:
26,136 sqft / 0.60 acres (approx)
Year Built:
1936
Schools
Interior
Exterior
Community Features
B L M/ National Forest
Garage Spaces
0.00
Lot Features
11-15 Units/ Acre
Pool Features
None
Sewer
Conventional Septic
Stories Total
1
Financial
Association Fee
0.00
See this Listing
Mortgage Calculator
Map
Similar Listings Nearby
- 73636 Cactus Drive
29 Palms, CA$850,000
0.29 miles away
- 73538 Sun Valley Drive
29 Palms, CA$839,000
0.72 miles away
Courtesy of Commercial Asset Advisors. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Palm Springs, Coachella Valley, and High Desert. Detailed information about real estate listings held by brokerage firms other than Leaskou Partners, Inc include the name of the listing broker. Neither the listing company nor Leaskou Partners, Inc shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Palm Springs, Coachella Valley, and High Desert. All rights reserved.
6563 Oasis Avenue
29 Palms, CA
LIGHTBOX-IMAGES