Joshua Tree, CA 92252 7242 Olympic Road
$1,725,000
6 more
Presented By: ALBERT LE with LE INVESTMENT GROUP; 909-256-7889
- MLS# IV25019322
- 01/27/2025
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
Beds • 16
Baths • 1
SQFT • 7,600
Garage • 8
Home Details
FIRST TIME EVER ON THE MARKET! The Olympic Village Apartments consist of a two-property portfolio with a total of eight (8) units, located side by side at 7242-7264 Olympic Road, Joshua Tree, CA 92252. These properties are being offered together for $1,725,000 or individually at $862,500 each. Each unit features a two-bedroom, one-bathroom layout. Built in 1991, the properties sit on a combined 0.903 acres of land and demonstrate a clear pride of ownership, with well-maintained grounds and units. The Pro Forma CAP Rate is 6.97%, with a Pro Forma GRM of 10.27, while the current CAP Rate stands at 5.02%.
Presented By: ALBERT LE with LE INVESTMENT GROUP; 909-256-7889
Interior Features for 7242 Olympic Road
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 7242 Olympic Road
Additional Parcels Description0601-441-14
Additional Parcels Y/NYes
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.02
Carport Y/NNo
CityJoshua Tree
Community FeaturesSidewalks
CountySan Bernardino
DirectionsPlease refer to maps.
Electric Expense0.0
Electric On Property Y/NNo
Entry LocationFloor
Fuel Expense0.0
Garage Spaces8.0
Garage Y/NYes
Gross Income130800.0
HOANo
Home Warranty Y/NNo
Insurance Expense0.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsSubmit
Lot Size Square Feet39334.68
Lot Size UnitsAcres
MLS AreaDC626 - Outlying North/Sunfair Heights
MobileHomeRemainsYNNo
Net Operating Income86620.0
New ConstructionNo
Number Of Units Total8
Operating Expense38240.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerSepticTank
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot19
Trash Expense0.0
Water Sewer Expense0.0
Waterfront Y/NNo
Year Built1991
Year Built SourceAppraiser
Exterior for 7242 Olympic Road
Building Area Total7600.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesTwoToFiveUnitsAcre
Lot Size Acres0.903
Lot Size Area0.903
Lot Size SourceAssessor
Number of Buildings4
Number of Separate Electric Meters8
Number of Separate Gas Meters8
Number of Separate Water Meters2
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking8.0
Water SourcePublic
Additional Details
Price History
Hal Schlegel
Broker Associate