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15705 Tern Rd - Single Family Triplex Portfolio 3 Unit Apartment Building Offered at $1,948,787 CAD at a 5.26% Cap Rate Victorville, CA 92394
Investment Highlights
- Strong yield with a current CAP Rate of 4.85% with a Pro Forma CAP Rate of 5.26% achievable through market rent adjustments.
- Triplex situated on a 0.5 acre lot with approximately 5,967 rentable SF.
- Current GRM of 14.05 with a Pro Forma GRM of 13.19.
- Attractive Unit Mix: (3) 4B3B Units
Executive Summary
A well-maintained, three (3) SFR investment portfolio totaling 5,967 rentable square feet, located in a quiet residential neighborhood. Built in 2006, the property consists of three (3) spacious 4-bedroom, 3-bathroom homes totaling 5,967 rentable square feet on a 0.5-acre lot, with a single APN currently eligible for future division into three separate parcels, adding future flexibility and value potential. The asset offers a 5.26% ProForma CAP rate and 13.19 GRM through legal annual rent increases, supported by strong in-place rents, long-term tenants, and a clean, turnkey, financeable profile ideal for both private and 1031 exchange buyers.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$147,698
|
$6.78
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,385
|
$0.34
|
| Effective Gross Income |
$140,313
|
$6.44
|
| Taxes |
$23,733
|
$1.09
|
| Operating Expenses |
$13,990
|
$0.64
|
| Total Expenses |
$37,723
|
$1.73
|
| Net Operating Income |
$102,590
|
$4.71
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $147,698 |
| Annual Per SF | $6.78 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $7,385 |
| Annual Per SF | $0.34 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $140,313 |
| Annual Per SF | $6.44 |
| Taxes (CAD) | |
|---|---|
| Annual | $23,733 |
| Annual Per SF | $1.09 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $13,990 |
| Annual Per SF | $0.64 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $37,723 |
| Annual Per SF | $1.73 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $102,590 |
| Annual Per SF | $4.71 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Fireplace
- Washer/Dryer Hookup
- Heating
- Kitchen
- Tub/Shower
- Yard
- Attic
- Dining Room
- Family Room
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+3 | 3 | $4,103 CAD | 5,967 |
1 1
Property Taxes
| Parcel Number | 3106-211-21 | Total Assessment | $1,433,676 CAD (2025) |
| Land Assessment | $318,763 CAD (2025) | Annual Taxes | $23,733 CAD ($3.98 CAD/SF) |
| Improvements Assessment | $1,114,913 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
3106-211-21
Land Assessment
$318,763 CAD (2025)
Improvements Assessment
$1,114,913 CAD (2025)
Total Assessment
$1,433,676 CAD (2025)
Annual Taxes
$23,733 CAD ($3.98 CAD/SF)
Tax Year
2026
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15705 Tern Rd - Single Family Triplex Portfolio
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