Check out this fantastic and 100% occupied 11 Unit Apartment in Palm Springs, CA.
This apartment is a high pride of ownership gem, offering beautiful desirable apartment living inside & out. Very spacious, extra large units that include tile floors, stainless steel appliances, breakfast bar, large living & bedrooms, and private patios that are like a backyard. Tenants truly enjoy the large swimming pool along with the pool area BBQ & patio. Half the spaces are rented well below market (see unit mix below) leaving room to add tremendous value. At current actual rents, this property boasts a sub-9 GRM and a cap rate just under 7%. These returns are unheard of in the current market place, making this the best apartment buy in Southern California.
This is the best apartment location one can find in Palm Springs. Located downtown, just minutes away from the strip, convention center, shopping, airport, and casino. The historical at or near 100% occupancy attests for the tenants wanting to be in this first class apartment at this coveted fine location. If you purchase this offering, you’re buying a trophy property at a wholesale price!!