16025 L St, Mojave, CA 93501

8 beds4 baths3,264 sqft Edit

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Sold: $50,000
Sold on 03/11/13
Zestimate®: $201,704
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A Zestimate® home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more

My Notes

Edit
This is an outstanding investment.
Rent for each unit is $580. 4 x $580 = $2320 / month income Three of four units rented as of March 2014
2013 Cap Rate 10% CAP Rate = NET operating income / asking price
Zillow listed a fact incorrectly - property was NOT sold for $50,000. Instead a mortgage was taken out for $50,000
Asking price is $149,000 which cash flows nicely. Where else can you buy a house for $149,000 and collect $2320 monthly rent? But because it is Mojave, this unit will probably appraise for $135,000. There are few comps here unfortunately. I am not willing to drop the price to $135,000 so if you are interested, a down payment of around $41,000 will be required to qualify for a bank loan for the remaining balance.
Owner can be reached at 661-992-6800 or 661-824-2267 or kreigh@scaled.com
 

What I love about the home

Walking distance to Mojave airport and City of Mojave. Newer 4 plex with bamboo lined back porch area.
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Facts

  • Lot: 7,500 sqft
  • Multi Family
  • Built in 1987
  • Views: 982 all time views
  • Heating: Forced air, Wall
  • Last sold: Mar 2013 for $50,000
  • Last sale price/sqft: $15

Features

  • Ceiling Fan

      Construction

      • Construction quality:
        6.0
        Provided by the county assessor, this grade is based on a scale that varies by market. For more information, or to update the grade, contact the county assessor's office.
      • Roof type: Composition
      • Stories: 1
      • Unit count: 4

      Other

      • Floor size: 3,264 sqft
      • Last remodel year: 1987
      • Parcel #: 23617207
      • Zillow Home ID: 18966216

      Zestimate Details

      Zestimate
      A Zestimate home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more

      The Value Range is the high and low estimate market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table

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      $201,704
      +$460 Last 30 days
      $175K
      $238K
      Zestimate range
      Rent Zestimate A Rent Zestimate is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. Learn more

      The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table
      $713/mo
      +$40 Last 30 days
      $442
      $1.1K
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      Popularity on Zillow

      982 all-time views
      of this home (chart)

      Mortgages

      Neighborhood

      Market guide

      Zillow predicts 93501 home values will rise 6.7% next year, compared to a 6.7% rise for Mojave as a whole. Among 93501 homes, this home is valued 153.7% more than the midpoint (median) home, but is valued 79.5% less per square foot.

      Foreclosures will be a factor impacting home values in the next several years. In 93501, the number of foreclosures waiting to be sold is 87.4% greater than in Mojave, and 18.1% less than the national average. This higher local number may prevent 93501 home values from rising as quickly as other regions in Mojave.

      Learn more about forecast calculations or 93501 home values.
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        Nearby Schools in Mojave

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