Palm Desert Garden Apartments | 73600 San Gorgonio Way
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Palm Desert Garden Apartments 73600 San Gorgonio Way
25 Unit Block of Flats £3,579,840 (£143,194/Unit) 4.58% Net Initial Yield Palm Desert, CA 92260
Investment Highlights
- Offers a Mix of Studio, One-, & Two-Bedroom Floor Plans
- Private Patios (Select Units) | Swimming Pool & Spa | Storage Sheds | 17 Surface Spaces & Ample Street Parking
- Moments Away from College of The Desert, Attracting a Diverse Renter Pool
- Highly Desirable Single-Story Construction
- Within Walking Distance to a Plethora of Retail, Dining, & Entertainment Options Along the Highway 111 Retail Corridor
- In Close Proximity to a Multitude of Golf Courses & Parks, Providing Residents Convenient Access to Outdoor Activities
Executive Summary
The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Palm Desert Garden Apartments, a 25-unit multifamily investment property located in Palm Desert, CA.
Situated on a 1.04-acre lot, Palm Desert Garden Apartments offers a diverse mix of studio, one-, and two-bedroom floor plans, some of which feature private patios. Additionally, the property features single-story construction, a highly desirable characteristic to prospective renters. Furthermore, Palm Desert Garden Apartments features attractive amenities such as a swimming pool, a spa, storage sheds, and ample surface parking.
Palm Desert Garden Apartments is situated in an optimal Palm Desert location, within walking distance to a plethora of retail, dining, and entertainment options along the Highway 111 retail corridor. Additionally, the property benefits from its close proximity to College of The Desert, helping to attract a diverse renter pool. Furthermore, Palm Desert Garden Apartments’ location, moments away from a multitude of golf courses and parks, provides residents with convenient access to outdoor activities.
The property’s desirable single-story construction and attractive Palm Desert location are primary draws for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at Palm Desert Garden Apartments.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Situated on a 1.04-acre lot, Palm Desert Garden Apartments offers a diverse mix of studio, one-, and two-bedroom floor plans, some of which feature private patios. Additionally, the property features single-story construction, a highly desirable characteristic to prospective renters. Furthermore, Palm Desert Garden Apartments features attractive amenities such as a swimming pool, a spa, storage sheds, and ample surface parking.
Palm Desert Garden Apartments is situated in an optimal Palm Desert location, within walking distance to a plethora of retail, dining, and entertainment options along the Highway 111 retail corridor. Additionally, the property benefits from its close proximity to College of The Desert, helping to attract a diverse renter pool. Furthermore, Palm Desert Garden Apartments’ location, moments away from a multitude of golf courses and parks, provides residents with convenient access to outdoor activities.
The property’s desirable single-story construction and attractive Palm Desert location are primary draws for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at Palm Desert Garden Apartments.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£316,133
|
£20.39
|
| Other Income |
£8,650
|
£0.56
|
| Vacancy Loss |
£15,807
|
£1.02
|
| Effective Gross Income |
£308,977
|
£19.93
|
| Taxes |
£43,836
|
£2.83
|
| Operating Expenses |
£101,210
|
£6.53
|
| Total Expenses |
£145,046
|
£9.36
|
| Net Operating Income |
£163,931
|
£10.57
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £316,133 |
| Annual Per SF | £20.39 |
| Other Income | |
|---|---|
| Annual | £8,650 |
| Annual Per SF | £0.56 |
| Vacancy Loss | |
|---|---|
| Annual | £15,807 |
| Annual Per SF | £1.02 |
| Effective Gross Income | |
|---|---|
| Annual | £308,977 |
| Annual Per SF | £19.93 |
| Taxes | |
|---|---|
| Annual | £43,836 |
| Annual Per SF | £2.83 |
| Operating Expenses | |
|---|---|
| Annual | £101,210 |
| Annual Per SF | £6.53 |
| Total Expenses | |
|---|---|
| Annual | £145,046 |
| Annual Per SF | £9.36 |
| Net Operating Income | |
|---|---|
| Annual | £163,931 |
| Annual Per SF | £10.57 |
Property Facts
| Price | £3,579,840 | Apartment Style | Garden |
| Price Per Unit | £143,194 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.04 AC |
| Net Initial Yield | 4.58% | Building Size | 15,503 SF |
| Gross Rent Multiplier | 11.02 | Number of Floors | 1 |
| No. Units | 25 | Year Built | 1964 |
| Property Type | Residential | Parking Ratio | 1.1/1,000 SF |
| Property Subtype | Apartment | Cross Streets | San Carlos Ave. |
| Price | £3,579,840 |
| Price Per Unit | £143,194 |
| Sale Type | Investment |
| Net Initial Yield | 4.58% |
| Gross Rent Multiplier | 11.02 |
| No. Units | 25 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.04 AC |
| Building Size | 15,503 SF |
| Number of Floors | 1 |
| Year Built | 1964 |
| Parking Ratio | 1.1/1,000 SF |
| Cross Streets | San Carlos Ave. |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Patio
Site Amenities
- Laundry Facilities
- Pool
- Spa
- Gated
- Cabana
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 11 | - | 469 |
| 1+1 | 5 | - | 579 |
| 2+1 | 9 | - | 828 |
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Walk Score ®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 627-142-017 | Total Assessment | £1,278,401 (2023) |
| Land Assessment | £225,309 (2023) | Annual Taxes | £43,836 (£2.83/sf) |
| Improvements Assessment | £1,053,093 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
627-142-017
Land Assessment
£225,309 (2023)
Improvements Assessment
£1,053,093 (2023)
Total Assessment
£1,278,401 (2023)
Annual Taxes
£43,836 (£2.83/sf)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | R3 (Multifamily) |
| R3 (Multifamily) |
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Palm Desert Garden Apartments | 73600 San Gorgonio Way
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