Greg Malik Real Estate
10592 Sunset Avenue
Desert Hot Springs, CA 92240

$1,100,000

Description

****PRICE REDUCTION OF $100,000****These Sunset Springs Apartments are a well maintained 12-unit complex nestled in the hills of Desert Hot Springs. Built in the 1980's, the subject property boasts an excellent unit mix consisting 12 large two bedroom, two bath apartment homes measuring approximately 900 square feet each. All units have central AC & Heat and separate tenant gas and electric meters for low landlord utility expense. There is also on on-site laundry room with leased machines for additional landlord income; additionally, the subject property offers the tenants a sparkling pool and a 17 space parking lot with ample street parking. The Sunset Springs Apartments is attractively priced below replacement value (only $101.85 cpsf) and located within a track of predominantly single family homes with very little apartment construction in the neighborhood; additionally, the hilltop location offers the tenants expansive white-capped mountain and valley views - increasing tenant demand for the apartments. and a quiet residential location close to all employment centers in the Coachella Valley. Strong cash-on-cash return for a savy investor. Actual cap of 6.5% with a 9.8 GRM and Market- Cap of 7.5 with a 8.9 GRM.

Details

MLS#PW18229856
Sub-TypeResale
StatusActive
Year1980
Days On Site12

Features

SQ Feet10,800
Units12
Building(s)1

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Area Information

StateCA
CountyRiverside
CityDesert Hot Springs
Zip Code92240
Area340 - Desert Hot Springs
Listing VS Median (in 92240)
Price:
$1,100,000
low | high
Med:
$180,000
100% of Average
SqFt:
10,800
low | high
Med:
1,336
100% of Average
$ / SqFt:
$102
low | high
Med:
$135
17.719107240065% of Average
On Site:
12
low | high
Med:
12
100% of Average
Listing Updated: 01/16/2019
MLS Number: PW18229856
Listing Provided By:
Ed Diaz  of  Vanguard Property Group
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