2200 Sahara Rd - Apartments FOR SALE


Palm Springs, CA 92262 | 
$1,695,000 USD
818-268-4325
2200 Sahara Rd, Palm Springs, CA for Sale
$1,695,000 USD
Apartments - FOR SALE
1/27
null | 5.84% Cap Rate

2200 Sahara Rd
Palm Springs, CA 92262


HIGHLIGHTS

  • A 10-unit multifamily investment opportunity located in the desirable Desert Park Estates neighborhood of Palm Springs
  • Seven units feature private grass yards and three units feature private patios
  • Desirable unit mix consisting of (4) one-bedroom / one-bathroom units and (6) studio units
  • Resort-style amenities include a swimming pool, gated dog park area, lush landscaped grounds, and an on-site laundry room
  • Individually metered for electricity; ownership currently pays water, sewer, trash, and gas; property is served by two water heaters
  • Conveniently located near Downtown Palm Springs, Palm Springs International Airport, shopping, dining, and entertainment amenities

OVERVIEW

Marcus & Millichap is pleased to present Sahara Road Apartments, a 10-unit multifamily investment opportunity located at 2200 E Sahara Road in the desirable Desert Park Estates neighborhood of Palm Springs, California. Situated on an expansive ±0.57-acre lot, the property offers investors the opportunity to acquire a stabilized, pride-of-ownership asset in one of the Coachella Valley's most established and desirable rental markets. Sahara Road Apartments consists of (4) one-bedroom / one-bathroom units and (6) studio units and is 100% occupied. The community features desirable single-story construction, attractive open floor plans, and well-maintained interiors that have been updated throughout the years of ownership. This true pride-of-ownership asset offers investors a stabilized investment opportunity with strong occupancy and an attractive resident environment. Residents enjoy a highly amenitized living environment featuring a swimming pool, gated dog park area, lush landscaped grounds, and an on-site laundry facility. Additionally, seven units feature private grass yards and three units feature private patios, further enhancing tenant appeal. The property is individually metered for electricity, while ownership currently pays water, sewer, trash, and gas. Additional operational features include two water heaters and a variety of electric cooling systems throughout the property, including central air conditioning, mini-split systems, and wall-mounted A/C units. Ideally located near Downtown Palm Springs, Palm Springs International Airport, major retail corridors, restaurants, and entertainment destinations, Sahara Road Apartments presents investors with the opportunity to acquire a well-maintained multifamily asset offering strong in-place occupancy, desirable amenities, and long-term investment potential within a highly sought-after Palm Springs location.

FOR SALE DETAILS

PRICE

$1,695,000 USD

PRICE/SF

$234 USD /SF

# OF UNITS

2

PRICE/UNIT

$847,500

CAP RATE

5.84%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

PARKING SPACES

10

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

R-1C

APN/PARCEL ID

501-352-003

ASK ABOUT THIS PROPERTY

Gisele PinedoMarcus & MillichapMore Info
818-268-4325

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Gisele PinedoMarcus & MillichapMore Info
818-268-4325

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.