7412 Cherokee Trl
Yucca Valley, CA 92284

The Cherokee Trail Apartments, built in 1972, consists of six spacious two bedroom, one bath apartment homes, six carports with extra storage, and four open parking spaces. All of the units have been updated with contemporary design elements, and are in excellent condtion, featuring numerous amenities, including: Washer/Dryer Hookups, Ceiling Fans, Patios & Porches, Tile Flooring, High Speed Internet Access, Additional Storage, Carports & Guest Parking, Evaporative Coolers, & Breakfast Nook / Dining Rooms. It's beautiful high-desert mountain views, stylish architectural design, lifestyle amenities, and the numerous recreational and entertainment options available to the tenants, including it's close proximity to the Joshua Tree National Park, make this investment an ideal candidate for a year-round vacation rental, or a low-maintenance long-term rental property. With current rents about 25% below the average for similar apartment homes in the area, the investor who brings the existing rents to market with sensible management could yield a 7% capitalization rate and realize a 30% internal rate of return on their investment over a five year period. This is an ideal opportunity for an investor wanting a low maintenance property with easy management, in a rising market where demand for rental properties is outpacing demand for single family homes at an increasing pace, and the housing supply shortfall is growing for both rental & owner occupied properties, with virtually no new construction planned.