51704 Cesar Chavez St - Apartments FOR SALE


Coachella, CA 92236
$1,495,000 USD
619-705-9670
51704 Cesar Chavez St, Coachella, CA for Sale
$1,495,000 USD
Apartments - FOR SALE
1/13
null | 5.91% Cap Rate

51704 Cesar Chavez St
Coachella, CA 92236


HIGHLIGHTS

  • Signalized hard-corner location at Cesar Chavez Street & Cairo Street with excellent visibility and street frontage
  • Mixed-use asset consisting of three commercial suites, two residential apartments, and one warehouse/storage space
  • ±21,344 SF lot (0.49 acres) with ample parking
  • CG zoning offering flexibility for a variety of commercial and mixed-use redevelopment opportunities
  • Recently renovated ±1,500 SF attached rear warehouse/storage space with separate rear access

OVERVIEW

SVN® Vanguard is pleased to present 51704–51710 Harrison Street (also known as 51704 Cesar Chavez Street), a mixed-use investment and value-add opportunity located at the signalized corner of Cesar Chavez Street and Cairo Street in Coachella, California. Situated on approximately 0.49 acres (±21,344 SF), the property consists of three ground-floor commercial storefronts, two second-floor 3-bedroom/1-bathroom apartments, and a recently renovated ±1,500 SF attached rear warehouse/storage space, along with ample on-site parking. The commercial component includes a ±700 SF CPA office and a ±1,800 SF restaurant occupying two storefronts. The attached rear warehouse/storage space features HVAC, a private restroom, and separate rear access and is currently vacant and available for lease, providing a near-term lease-up opportunity. The property currently generates approximately $101,670 in annual gross rental income with an estimated seller-provided in-place NOI of $88,390, representing a 5.91% in-place cap rate at the $1,495,000 asking price. Lease-up of the vacant warehouse at the current asking rent of $2,000/month ($24,000/year) results in an estimated pro forma NOI of $112,390 and a 7.52% pro forma cap rate, assuming no material change in operating expenses. Zoned CG (General Commercial), the property offers flexibility for a variety of commercial uses. The sizable corner parcel and existing mixed-use configuration also provide potential for future repositioning or redevelopment, subject to buyer investigation, applicable zoning requirements, and municipal approvals.

FOR SALE DETAILS

PRICE

$1,495,000 USD

PRICE/SF

$238 USD /SF

# OF UNITS

6

PRICE/UNIT

$249,167

CAP RATE

5.91%

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

CG

APN/PARCEL ID

778-150-001

ASK ABOUT THIS PROPERTY

Pouya RostampourSVN | VanguardMore Info
619-705-9670

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Pouya RostampourSVN | VanguardMore Info
619-705-9670

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