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Lisa Angell

[email protected] +1(760) 423-3443

$ 935,000

Est. payment | -/mo

9 Beds

7 Baths

0.34 Acres Lot

Save

$ 935,000

Est. payment | -/mo

Save

9 Beds

7 Baths

0.34 Acres Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID 219143150

Bedrooms 9

Full Baths 7

HOA Y/N No

Year Built 2024

Lot Size 0.340 Acres

Property Sub-Type Apartment

Property Description

Rare investment opportunity in Desert Hot Springs trading at an 8.61 GRM with a clear path to a 9.44% stabilized cap. This 2024 built 7 unit property features a versatile mix for rental income: 1 fully detached 2BD/1BA, 1 attached 2BD/1BA, 1 1BD/1BA, and 4 studios. All units sit behind a private gate, providing privacy and security for tenants. Current gross rents of $9,191/mo ($110,292/yr) are in place and documented, with six of seven units occupied.
The operational story is what separates this deal. Seven individual electric meters, designed in at construction, mean tenants absorb the single largest line item in the Coachella Valley, the summer cooling bill. Combined with the lower maintenance profile of new construction, this drives owner operating expenses to just 27% of gross income.
Conveniently located near local amenities, shopping, and easy freeway access, the asset is ideal for the investor seeking a turnkey rental portfolio or the owner occupant looking to offset a mortgage with six streams of rental income. No deferred maintenance, no CapEx event, no refresh cycle. Just rent mark to market as leases turn. Full pro forma, T12 expenses, and rent roll available

Location

State CA

County Riverside

Area 340 - Desert Hot Springs

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace false

Exterior

View Y/N false

Private Pool No

Building

Story 2

Entry Level One,Two

Sewer In, Connected and Paid

Level or Stories One, Two

Others

Senior Community No

Acceptable Financing 1031 Exchange, Cash

Listing Terms 1031 Exchange, Cash

Special Listing Condition Standard

Listed by eXp Realty Of Southern California Inc

Schools and Properties Nearby

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+1(760) 423-3443

[email protected]

Learn More About LPT Realty

11771 Upland WAY Desert Hot Springs, CA 92240