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11583 Cactus Dr 3 Unit Apartment Building $650,000 ($216,667/Unit) 5.70% Cap Rate Desert Hot Springs, CA 92240
INVESTMENT HIGHLIGHTS
- Paid for Solar System
- Live in and Rent Opportunity
- Great Unit mix
EXECUTIVE SUMMARY
Great opportunity to own stabilized triplex with future upside in the income potential. The property is located on the corner of Cactus Drive and 3rd street, just blocks from downtown Desert Hot Springs. There is a good mix of units including a three (3) bedroom, two (2) bath, two (2) bedroom, one (1) bath, and a one (1) bedroom, one (1) bath which are all currently occupied. Each unit enjoys tile flooring, desert landscaping and an owned solar system that has been covering all electrical costs. Please do not disturb tenants, reach out to Broker for more information.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$52,548
|
$20.41
|
| Other Income |
$600
|
$0.23
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$53,148
|
$20.65
|
| Taxes |
$7,904
|
$3.07
|
| Operating Expenses |
$8,167
|
$3.17
|
| Total Expenses |
$16,071
|
$6.24
|
| Net Operating Income |
$37,077
|
$14.40
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $52,548 |
| Annual Per SF | $20.41 |
| Other Income | |
|---|---|
| Annual | $600 |
| Annual Per SF | $0.23 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $53,148 |
| Annual Per SF | $20.65 |
| Taxes | |
|---|---|
| Annual | $7,904 |
| Annual Per SF | $3.07 |
| Operating Expenses | |
|---|---|
| Annual | $8,167 |
| Annual Per SF | $3.17 |
| Total Expenses | |
|---|---|
| Annual | $16,071 |
| Annual Per SF | $6.24 |
| Net Operating Income | |
|---|---|
| Annual | $37,077 |
| Annual Per SF | $14.40 |
PROPERTY FACTS
| Price | $650,000 | Property Subtype | Apartment |
| Price Per Unit | $216,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 5.70% | Building Size | 2,574 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| Gross Rent Multiplier | 12.38 | Year Built/Renovated | 1956/2019 |
| No. Units | 3 | Opportunity Zone |
Yes
|
| Property Type | Multifamily |
| Price | $650,000 |
| Price Per Unit | $216,667 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.38 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 2,574 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1956/2019 |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Heating
- Ceiling Fans
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 1 | - | - |
| 3+2 | 1 | - | - |
ZONING
| Zoning Code | R3 |
| R3 |
MAP
ADDITIONAL PHOTOS
DJI_0306
DJI_0296
DJI_0308
Primary Photo