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11771 Upland Way 7 Unit Apartment Building $915,000 ($130,714/Unit) 9.50% Cap Rate Desert Hot Springs, CA 92240
Investment Highlights
- 9.4% Cap Rate – Turnkey 7-Unit Compound | 2024 Full Remodel
- Priced at $915,000 for a rapid sale, this asset provides over $400,000 in immediate equity compared to market-average cap rates.
- The property features 7 individual electric meters, a critical operational advantage
Executive Summary
Immediate 9.4% Cap Rate on a stabilized, high-cash-flow asset in the Desert Hot Springs opportunity zone. Extensively remodeled in 2024, this 7-unit multi-family property offers a rare combination of modern aesthetics and mechanical efficiency.
The property features 7 individual electric meters, a critical operational advantage in the desert that shifts the highest utility burden—air conditioning—directly to the tenants. The 2024 renovation included updated systems, new finishes, and a private gated perimeter, ensuring zero deferred maintenance for the incoming investor.
Priced at $915,000 for a rapid sale, this asset provides over $400,000 in immediate equity compared to market-average cap rates.
Investment Highlights:
Superior Yield: Stabilized 9.46% Cap Rate with a 19-21% expense ratio.
Major 2024 Renovation: Turnkey asset with new systems and finishes.
Operational Efficiency: 7 individual electric meters significantly reduce owner-paid utilities.
Gated Perimeter: Enhances security and curb appeal for high-quality tenant retention.
The Property: 11771 Upland Way
Price: $915,000
Units: 7
Status: Fully Remodeled 2024
Net Income: $86,601
Why Invest Here?
Most investors in the Coachella Valley struggle with high utility costs and aging infrastructure. This property solves both. With a 2024 remodel and individual metering, your overhead is locked in while your income is protected by the high demand for modern rentals in the 92240 zip code.
Contact Information:
Joe Corbisiero Compass
License: DRE #01886351
The property features 7 individual electric meters, a critical operational advantage in the desert that shifts the highest utility burden—air conditioning—directly to the tenants. The 2024 renovation included updated systems, new finishes, and a private gated perimeter, ensuring zero deferred maintenance for the incoming investor.
Priced at $915,000 for a rapid sale, this asset provides over $400,000 in immediate equity compared to market-average cap rates.
Investment Highlights:
Superior Yield: Stabilized 9.46% Cap Rate with a 19-21% expense ratio.
Major 2024 Renovation: Turnkey asset with new systems and finishes.
Operational Efficiency: 7 individual electric meters significantly reduce owner-paid utilities.
Gated Perimeter: Enhances security and curb appeal for high-quality tenant retention.
The Property: 11771 Upland Way
Price: $915,000
Units: 7
Status: Fully Remodeled 2024
Net Income: $86,601
Why Invest Here?
Most investors in the Coachella Valley struggle with high utility costs and aging infrastructure. This property solves both. With a 2024 remodel and individual metering, your overhead is locked in while your income is protected by the high demand for modern rentals in the 92240 zip code.
Contact Information:
Joe Corbisiero Compass
License: DRE #01886351
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$109,764
|
$45.74
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,292
|
$1.37
|
| Effective Gross Income |
$106,472
|
$44.36
|
| Taxes |
$12,422
|
$5.18
|
| Operating Expenses |
$13,230
|
$5.51
|
| Total Expenses |
$25,652
|
$10.69
|
| Net Operating Income |
$80,820
|
$33.68
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $109,764 |
| Annual Per SF | $45.74 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,292 |
| Annual Per SF | $1.37 |
| Effective Gross Income | |
|---|---|
| Annual | $106,472 |
| Annual Per SF | $44.36 |
| Taxes | |
|---|---|
| Annual | $12,422 |
| Annual Per SF | $5.18 |
| Operating Expenses | |
|---|---|
| Annual | $13,230 |
| Annual Per SF | $5.51 |
| Total Expenses | |
|---|---|
| Annual | $25,652 |
| Annual Per SF | $10.69 |
| Net Operating Income | |
|---|---|
| Annual | $80,820 |
| Annual Per SF | $33.68 |
Property Facts
| Price | $915,000 | Building Class | C |
| Price Per Unit | $130,714 | Lot Size | 0.35 AC |
| Sale Type | Investment | Building Size | 3,200 SF |
| Cap Rate | 9.50% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.35 | No. Stories | 2 |
| No. Units | 7 | Year Built/Renovated | 1966/2024 |
| Property Type | Multifamily | Parking Ratio | 3.13/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | TR, Desert Hot Spgs | ||
| Price | $915,000 |
| Price Per Unit | $130,714 |
| Sale Type | Investment |
| Cap Rate | 9.50% |
| Gross Rent Multiplier | 8.35 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 3,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2024 |
| Parking Ratio | 3.13/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | TR, Desert Hot Spgs |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Ceiling Fans
- Refrigerator
- Range
- Yard
- Deck
- Double Pane Windows
- Quartz Countertops
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $1,100 | 350 - 400 |
| 1+1 | 1 | $1,330 | 400 |
| 2+1 | 2 | $1,750 | 700 - 720 |
1 1
Somewhat walkable
30/100
Moderately drivable
70/100
Limited public transit
20/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 639-322-016 | Total Assessment | $616,428 |
| Land Assessment | $72,828 | Annual Taxes | $12,422 ($3.88/SF) |
| Improvements Assessment | $543,600 | Tax Year | 2025 |
Property Taxes
Parcel Number
639-322-016
Land Assessment
$72,828
Improvements Assessment
$543,600
Total Assessment
$616,428
Annual Taxes
$12,422 ($3.88/SF)
Tax Year
2025
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11771 Upland Way
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