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66327 7th St
Desert Hot Springs, CA 92240
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Pro Forma CAP Rate of 9.65% with a Pro Forma GRM of 7.23, compared to a current CAP Rate of 8.64%
- Current ownership focus has been on quality improvements of the property, the latest improvements being the roof, exterior paint, A/C units, & wiring.
- Owner pays all remaining utilities (water, trash, and gas) for County and Non-County programmed tenants.
- The property features an efficient unit mix consisting of Five (5) Studio Units and One (1) One-Bedroom / One-Bathroom Unit.
- County Program implemented for some tenants (Units 2 & 4), which include paid rent and electricity.
- The area offers quick connectivity to Highway 62 and Interstate 10, granting direct routes to Joshua Tree National Park, Rancho Mirage, & more.
Executive Summary
This Six (6) Unit Apartment Property is located at 66327 7th Street, Desert Hot Springs, CA 92240. The property is comprised of Five (5) Studio Units and One (1) One- Bedroom / One-Bathroom Unit, totaling approximately 2,500 square feet of living area situated on a 0.15-acre lot. Originally constructed in 1960, the asset offers a simple and efficient unit mix well-suited for consistent occupancy, appealing to both long-term tenants and workforce housing demand within the area. Its manageable size and layout present a practical investment opportunity with potential for rental upside and operational ease.
Property Facts
| Price Per Unit | $182,821 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 8.64% | Building Size | 3,500 SF |
| Gross Rent Multiplier | 7.86 | Average Occupancy | 75% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1.6/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | TR | ||
| Price Per Unit | $182,821 CAD |
| Sale Type | Investment |
| Cap Rate | 8.64% |
| Gross Rent Multiplier | 7.86 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,500 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 1.6/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | TR |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | $1,773 CAD | 550 |
| 1+1 | 1 | $2,224 CAD | 600 |
Property Taxes
| Parcel Number | 639-202-008 | Improvements Assessment | $442,820 CAD |
| Land Assessment | $88,563 CAD | Total Assessment | $531,383 CAD |
Property Taxes
Parcel Number
639-202-008
Land Assessment
$88,563 CAD
Improvements Assessment
$442,820 CAD
Total Assessment
$531,383 CAD
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