Search Results for 

400 Palm Drive - Desert Breeze Villas, Blythe, CA

Welcome to SHOWCASE.COM, the Web's most comprehensive source of commercial property data, where you can search from 900,000 listings nationwide. To see more Commercial Real Estate listings, Office Space, Industrial Space, Retail Space, Commercial Land, Multi-Family or other commercial property types, just click the button to the right.
400 Palm Drive - Desert Breeze Villas

Blythe, CA 92225 - Outer Riverside County MF Submarket

Property Type:Multi-Family Number of Units:70 Status:Existing Year Built:1992
Stories:2 Building Size:66,280 SF Land Area:9.24 AC (402,494 SF)
For Sale Price:$3,300,000 Price/Unit:$47,142.86 Cap Rate:8.00 % GRM:6.83


Sale Notes:
Garden Apartment Complex sitting on over 9 acres of land, Recently acquired foreclosure may need some clean up , 70 units total plus rental office , 36 are 3Br 1.5 Bath appx 1025 SF 34 units are 2Br 1Bath appx 804 SF, Currently 41 units are rented to low income housing generating appx $22,000 per month income , 29 units are vacant ( 9x3br -20x2br) in need of rehab that can generate an additional $18,500 per month income for a total projected annual income of $486,000.
upside on rent when low income tenants move out units can be rented at market rate, each unit has own private laundry hookups .
With an estimated 45% Expense ratio the projected cap rate would be 8%.
ALL INCOME AND EXPENSES ARE ESTIMATED,since subject was just acquired . Please contact Sam with more info, there is no marketing package available at this time

Century Realty Group
Sam Ostayan
(818) 789-7271

Share this listing

Copy and paste this HTML into your blog or web page:
<a href="" target="_blank">400 Palm Drive - Desert Breeze Villas, Blythe, CA - Commercial property</a>

Send Email
Add a personalized message: (Optional)
Copyright © 1997-2016 CoStar Realty Information, Inc. All rights reserved.  |  About SHOWCASE.COM |  Advertise |  Site Map