37250 Bankside Dr - Apartments FOR SALE


Cathedral City, CA 92234
$1,800,000 USD
714-604-6608
37250 Bankside Dr, Cathedral City, CA for Sale
$1,800,000 USD
Apartments - FOR SALE
1/14
null | 4.45% Cap Rate

37250 Bankside Dr
Cathedral City, CA 92234


HIGHLIGHTS

  • Excellent Unit Mix Consisting of Spacious Single-Story Studios, 1, and 2-Bedroom Units
  • Great Location Near Palm Springs, Rancho Mirage, New Shops, and Restaurants
  • Interior and Exterior Have Been Extensively Remodeled
  • Approximately 45% Upside in Rents

OVERVIEW

Triqor Group is pleased to present Bankside Apartments, well-maintained and upgraded 12-unit apartment community located in Cathedral City, CA. The property offers an attractive unit mix consisting of spacious, single-story Studio, 1-bedroom, and 2-bedroom units. Eleven of the twelve units have been thoughtfully renovated with wood-look porcelain tile flooring, upgraded kitchens and bathrooms, stainless sinks, and dual-pane windows. The community features a sparkling swimming pool within a gated courtyard, central heating and air conditioning, an on-site laundry facility, open parking, and all-new electrical panels. Bankside Apartments presents a compelling value-add opportunity with approximately 45% upside in rental income. Through the continued implementation of market rents, a new owner has the potential to significantly increase cash flow and achieve an estimated 8.2% capitalization rate, making this an attractive investment in one of the Coachella Valley’s strongest rental markets.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$269 USD /SF

# OF UNITS

12

PRICE/UNIT

$150,000

CAP RATE

4.45%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

R302M

APN/PARCEL ID

687-101-002

ASK ABOUT THIS PROPERTY

Ryan LoriaTriqor GroupMore Info
714-604-6608

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

Ryan LoriaTriqor GroupMore Info
714-604-6608

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