The Palms Apartments is a 16-unit multifamily opportunity located at 201 Walnut Avenue in Coalinga, CA. Comprised of four single-story buildings, the property features all 2-bed/1-bath units with approximately 813 SF each—ideal for tenants seeking accessibility and privacy. Built in 1970 and situated on nearly an acre, the complex benefits from its strategic location directly across from Coalinga College, formerly known as West Hills College. This high-visibility site offers seamless access to Highway 198 and Coalinga's growing retail corridor, enhancing tenant convenience and long-term demand. In-place rents are approximately 10% below market, presenting a value-add opportunity through organic rent growth. With current operations producing over $103K in annual NOI and a cap rate of 6.37%, The Palms is a strong cash-flowing asset with upside potential in a supply-constrained rental market.