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$1,800,000
Est. payment /mo
3 Beds
3 Baths
0.36 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26156345
Bedrooms 3
Lot Size 0.360 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
We are 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 Valleys strongest rental markets.
Location
State CA
County Riverside
Zoning Public Rec
Direction Driving West on E. Palm Canyon Dr., Turn Left Onto Bankside Dr., Property Will be on Your Left
Interior
Fireplace No
Exterior
Pool Private
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 687101002
Acceptable Financing Conventional
Listing Terms Conventional
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Listed by Ryan Loria, DRE#02006138 Triqor Group
NEARBY SCHOOLS & PROPERTIES
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Mary Ellen Haywood
Broker Associate | CA DRE#01264878
Broker Associate CA DRE#01264878