Keegan Cin | Realtor® | License # DRE 01971604

Property

Palm Desert, CA 92260 73600 San Gorgonio Way

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Presented By: Tyler Leeson with Marcus & Millichap RE Invest; tleeson@marcusmillichap.com
  • MLS# OC24250471
  • 12/16/2024
  • Request Tour
  • Request Info
  • Beds • 23
  • Baths • 3
  • SQFT • 15,503
  • Year Built • 1964

Home Details

Palm Desert Garden Apartments is a 25-unit multifamily investment property located at 73600 San Gorgonio Way, Palm Desert, CA. Situated on a 1.04-acre lot, Palm Desert Garden Apartments offers a diverse mix of studio, one-, and two-bedroom floor plans, some of which feature private patios. Additionally, the property features single-story construction, a highly desirable characteristic to prospective renters. Furthermore, Palm Desert Garden Apartments features attractive amenities such as a swimming pool, a spa, storage sheds, and ample surface parking. Palm Desert Garden Apartments is situated in an optimal Palm Desert location, within walking distance to a plethora of retail, dining, and entertainment options along the Highway 111 retail corridor. Additionally, the property benefits from its close proximity to College of The Desert, helping to attract a diverse renter pool. Furthermore, Palm Desert Garden Apartments’ location, moments away from a multitude of golf courses and parks, provides residents with convenient access to outdoor activities. The property’s desirable single-story construction and attractive Palm Desert location are primary draws for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at Palm Desert Garden Apartments.
Presented By: Tyler Leeson with Marcus & Millichap RE Invest; tleeson@marcusmillichap.com

Interior Features for 73600 San Gorgonio Way

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesNone
Total Stories1

Other Rooms

Entry Level1

General for 73600 San Gorgonio Way

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.58
Carport Y/NNo
CityPalm Desert
Community FeaturesCurbs, Gutters, Sidewalks, Pool
CountyRiverside
DirectionsCross Streets of San Gorgonio Way & San Pablo Avenue
Electric Expense6775.0
Electric On Property Y/NNo
Entry LocationFirst level
Fuel Expense6775.0
Garage Spaces0.0
Garage Y/NNo
Gross Income408266.0
HOANo
HOA Fee$0.0
HeatingCentral
Home Warranty Y/NNo
Insurance Expense23013.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsOne
Listing TermsCash, CashToNewLoan, Conventional, Exchange1031
Lot Size Square Feet45302.4
Lot Size UnitsAcres
MLS Area322 - North Palm Desert
MaintenanceExpense12500.0
MobileHomeRemainsYNNo
Net Operating Income206069.0
New ConstructionNo
Number Of Units Total25
Open Parking Spaces17.0
Operating Expense182328.0
Pool FeaturesCommunity
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories1
Subdivision NameOther
Tax Lot9
Taxes$55,103
Trash Expense6775.0
Water Sewer Expense6778.0
Waterfront Y/NNo
Year Built1964
Year Built SourceAssessor
ZoningR3

Exterior for 73600 San Gorgonio Way

Building Area Total15503.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesStreetLevel
Lot Size Acres1.04
Lot Size Area1.04
Lot Size SourceAssessor
Number of Buildings7
Number of Separate Electric Meters25
Number of Separate Gas Meters25
Number of Separate Water Meters1
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking17.0
Water SourcePublic

Additional Details

Price History

Alexandra Eston

Sales Associate
Price $4,500,000
MLS#OC24250471
List Date 12/16/2024
Property Type Multi-Family
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