Grube Hesperia Inn
33 Units | Hesperia, CA | Value Add Opportunity
Marketing description
Martinez & Associates, Inc. is pleased to present the opportunity to acquire Grube Hesperia Inn, a multifamily investment offering consisting of a 33-unit apartment community and an adjacent vacant parcel, sold together, in Hesperia, California.
The offering includes a 33-unit property situated on approximately 1.11 acres, along with a contiguous 0.42-acre vacant parcel, for a combined site area of approximately 1.53 acres. Built in 1970, the apartment community is comprised of 31 studio units and 2 two-bedroom, one-bathroom units with bonus rooms and is 100% occupied, reflecting stable in-place tenancy. The property is fully serviced by city utilities and is located near Hesperia Golf & Country Club, contributing to the area’s overall appeal.
The adjacent vacant parcel provides potential value-add or development optionality, subject to buyer due diligence and applicable approvals, allowing investors to acquire both stabilized cash flow and future upside within a single transaction. The efficient unit mix supports consistent rental demand in a steadily growing San Bernardino County submarket, making the asset well-suited for a long-term hold or phased value-add strategy.
Investment highlights
► 33 Units on 1.53 Acres (Includes Adjacent Vacant Parcel) – Rare opportunity with additional development potential
► Unit Mix: 31 Studios + 2 Two-Bedroom Units – Functional layout with strong rental demand drivers
►Significant Rental Upside (~40%–50%) – Studios currently ~$700–800 with market support for ~$1,000–1,100
► Attractive Basis (~$69K/Unit) – Competitive entry point for a 33-unit asset in the High Desert
► Value-Add Opportunity Through Rent Growth + Utility Optimization – High utility expenses (approx. 37% of income) create room to improve operations
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