Multiple Locations [closely grouped] 19 Doors, 8 buildings
Multifamily | 19 Units | $175,874/unit
Marketing description
Ideal for 1031 Tax Exchange
Consider purchasing all or any subset of the available assets.
The property attracts high-quality tenants, primarily employed as civil service engineers, scientists, administrators, and private contractors working at the China Lake Naval Weapons Station. It’s important to note that for every skilled worker, two to three support workers are typically required.
The Naval Air Weapons Station (NAWS) China Lake is located in Ridgecrest, CA, and all rental properties are within a 10-minute drive. China Lake is the U.S. Navy’s largest landholding, spanning over 1.1 million acres across three counties, and generates significant demand for workforce housing in the area. The base employs over 7,000 full-time personnel. Over the past five decades, the Navy and Marine Corps have developed or tested nearly every major airborne weapon system at China Lake. This activity drives substantial secondary economic growth in Ridgecrest, including increased demand for hotels, restaurants, healthcare, and retail services. The continued presence of China Lake is expected to contribute to ongoing economic stability and growth in the region.
Please note: Do not visit or contact anyone in the community without prior approval from the listing agents.
Investment highlights
Buy all or part of this project.
All units are 100% rented with year-long leases in place. None of the buildings are older than 2 years. While most multifamily units in the area have evaporative coolers and no solar, the homes for sale in this project are equipped with dual-pack air conditioning and heating systems. Tenants particularly prefer air conditioning paired with a solar system to help reduce utility bills, resulting in a waitlist of prospective tenants eager to rent these units. Additionally, most existing multifamily buildings have a single water meter for the entire building, whereas these homes are individually metered for utilities.
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