74380 El Camino - Apartments FOR SALE


Palm Desert, CA 92260- Coachella Valley
$7,410,000 USD
714-423-3819
74380 El Camino, Palm Desert, CA for Sale
$7,410,000 USD
Apartments - FOR SALE
1/37
null | 9% Cap Rate

74380 El Camino
Palm Desert, CA 92260
Coachella Valley


HIGHLIGHTS

  • Palm Desert opportunity: 38 of 52 condo units, 73% majority ownership of the entire community, in a highly desirable year-round tourism destination.
  • 38 fully renovated, furnished and turnkey condos in the heart of Palm Desert, with all FF&E included and approximately $50,000 invested per unit.
  • Strong day-one cash flow with a 9.00% CAP, plus significant upside to a 13.36% proforma CAP and a per unit basis 15%–30% below nearby condo sales.
  • Renovated interiors and upgraded major common-area infrastructure, with additional aesthetic repositioning upside and multiple exit strategies through
  • Prime Palm Desert location near El Paseo, with a $237 proforma ADR and significant peak-season upside driven by major events and year-round tourism.
  • Fully condo-mapped. $575/Unit/Month HOA dues cover water, internet, common area insurance, exterior maintenance, pool & landscaping

OVERVIEW

The offering consists of 38 of the 52 condominium units (approximately 73% of the entire project) located at 74380 El Camino in Palm Desert, California. This substantial concentration of ownership represents a unique opportunity to acquire a controlling majority of the units within a single project, providing investors with significant scale and the potential to benefit from future improvements and repositioning of the community. The property is centrally located in Downtown Palm Desert, just steps from El Paseo Drive, the city's premier shopping and entertainment destination. The surrounding area has evolved into an upscale district featuring approximately 150 boutiques, art galleries and restaurants. With its concentration of luxury retailers, landscaped streetscape and proximity to world-class resorts, spas, golf courses, tennis facilities, fine dining and nightlife, El Paseo is often referred to as the “Rodeo Drive of the Desert.”

FOR SALE DETAILS

PRICE

$7,410,000 USD

PRICE/SF

$334 USD /SF

# OF UNITS

38

PRICE/UNIT

$195,000

CAP RATE

9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

38-Unit Condominium Portfolio Fully Renovated

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

R304M

APN/PARCEL ID

625-340-002,625-340-004,625-340-006,625-340-007,625-340-008,625-340-009,625-340-010,625-340-011,625-340-012,625-340-013,625-340-014,625-340-015,625-340-016,625-340-017,625-340-018,625-340-021,625-340-022,625-340-023,625-340-024,625-340-025,625-340-026,625-340-027,625-340-028,625-340-029,625-340-030,625-340-031,625-350-003,625-350-004,625-350-005,625-350-006,625-350-007,625-350-009,625-350-010,625-350-011,625-350-012,625-350-015,625-350-017,625-350-021

ASK ABOUT THIS PROPERTY

Anthony LeLe Investment GroupMore Info
714-423-3819

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Anthony LeLe Investment GroupMore Info
714-423-3819

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