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38-Unit Condominium Portfolio Fully Renovated 74380 El Camino 38 Unit Apartment Building $10,255,440 CAD ($269,880 CAD/Unit) 9% Cap Rate Palm Desert, CA 92260
Investment Highlights
- Palm Desert opportunity: 38 of 52 condo units, 73% majority ownership of the entire community, in a highly desirable year-round tourism destination.
- Strong day-one cash flow with a 9.00% CAP, plus significant upside to an 11.92% pro forma CAP and a per-unit basis 15%–30% below nearby condo sales.
- Prime Palm Desert location near El Paseo, with a $200 pro forma ADR and significant peak-season upside driven by major events and year-round tourism.
- 38 fully renovated, furnished and turnkey condos in the heart of Palm Desert, with all FF&E included and approximately $50,000 invested per unit.
- Renovated interiors and upgraded major common-area infrastructure, with additional aesthetic repositioning upside and multiple exit strategies through
- Fully condo-mapped. $575/Unit/Month HOA dues cover water, internet, common area insurance, exterior maintenance, pool & landscaping
Executive Summary
The offering consists of 38 of the 52 condominium units (approximately 73% of the entire project) located at 74380 El Camino in Palm Desert, California. This substantial
concentration of ownership represents a unique opportunity to acquire a controlling majority of the units within a single project, providing investors with significant
scale and the potential to benefit from future improvements and repositioning of the community.
The property is centrally located in Downtown Palm Desert, just steps from El Paseo Drive, the city's premier shopping and entertainment destination. The surrounding
area has evolved into an upscale district featuring approximately 150 boutiques, art galleries and restaurants. With its concentration of luxury retailers, landscaped streetscape and proximity to world-class resorts, spas, golf courses, tennis facilities, fine dining and nightlife, El Paseo is often referred to as the “Beverly Hills of the Desert.”
concentration of ownership represents a unique opportunity to acquire a controlling majority of the units within a single project, providing investors with significant
scale and the potential to benefit from future improvements and repositioning of the community.
The property is centrally located in Downtown Palm Desert, just steps from El Paseo Drive, the city's premier shopping and entertainment destination. The surrounding
area has evolved into an upscale district featuring approximately 150 boutiques, art galleries and restaurants. With its concentration of luxury retailers, landscaped streetscape and proximity to world-class resorts, spas, golf courses, tennis facilities, fine dining and nightlife, El Paseo is often referred to as the “Beverly Hills of the Desert.”
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $10,255,440 CAD | Property Subtype | Apartment |
| Price Per Unit | $269,880 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 9% | Lot Size | 0.25 AC |
| Gross Rent Multiplier | 8.13 | Building Size | 22,800 SF |
| No. Units | 38 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Zoning | R304M - Property has a grandfathering provisions that allows existing short-term rentals (STRs) to continue operating, even if located in residential area. | ||
| Price | $10,255,440 CAD |
| Price Per Unit | $269,880 CAD |
| Sale Type | Investment |
| Cap Rate | 9% |
| Gross Rent Multiplier | 8.13 |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 22,800 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Zoning | R304M - Property has a grandfathering provisions that allows existing short-term rentals (STRs) to continue operating, even if located in residential area. |
Amenities
Unit Amenities
- Air Conditioning
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Views
- Patio
- Vinyl Flooring
Site Amenities
- Courtyard
- Laundry Facilities
- Pool
- Furnished Units Available
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $7,609,911 CAD (2026) | |
| Land Assessment | $1,941,265 CAD (2026) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $5,668,646 CAD (2026) | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$1,941,265 CAD (2026)
Improvements Assessment
$5,668,646 CAD (2026)
Total Assessment
$7,609,911 CAD (2026)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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38-Unit Condominium Portfolio Fully Renovated | 74380 El Camino
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