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1777 E Arenas Rd 7 Unit Apartment Building $1,295,000 ($185,000/Unit) 7.15% Cap Rate Palm Springs, CA 92262
Investment Highlights
- Close to downtown, area shopping, farmer's market, parks, and library. Mid-century building with upgrades that preserve original details.
Executive Summary
Well-maintained 7-unit mid-century property in the heart of Palm Springs. Each unit offers 2 bedrooms and 1.5 baths, private patios, and off-street parking. A central courtyard pool offers mountain views and a classic Palm Springs vibe. All units have individual rooftop HVAC package units (tenants pay their own heating and cooling costs.) On-site coin-op laundry and a total of 9 parking spaces. Six of the seven units have been updated preserving original period details like jalousie windows. Minutes from downtown shops, the weekend Farmer's Market, and the upcoming College of the Desert campus (opening 2027). Owner's unit to be delivered vacant. Monthly income (1 unit @pro-forma of $1700) is approximately $10,305 monthly, $123,660 annually. Seller is a licensed Realtor. Buyer to participate in seller's 1031 Exchange at no expense to buyer. Easy to show owner's unit with short notice.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,295,000 | Apartment Style | Low-Rise |
| Price Per Unit | $185,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 7.15% | Building Size | 7,307 SF |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| No. Units | 7 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.23/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R2 - Residential/Multi-Family | ||
| Price | $1,295,000 |
| Price Per Unit | $185,000 |
| Sale Type | Investment |
| Cap Rate | 7.15% |
| Sale Condition | 1031 Exchange |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 7,307 SF |
| No. Stories | 1 |
| Year Built | 1963 |
| Parking Ratio | 1.23/1,000 SF |
| Zoning | R2 - Residential/Multi-Family |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Range
- Views
- Carpet
- Yard
- Patio
- Smoke Free
- Floor to Ceiling Windows
Site Amenities
- Courtyard
- Pool
- Gated
- Laundry Service
- Smoke Free
- Trash Pickup - Curbside
- Public Transportation
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 7 | - | - |
1 1
Walk Score®
Very Walkable (77)
Property Taxes
| Parcel Number | 502-163-005 | Improvements Assessment | $502,417 |
| Land Assessment | $175,841 | Total Assessment | $678,258 |
Property Taxes
Parcel Number
502-163-005
Land Assessment
$175,841
Improvements Assessment
$502,417
Total Assessment
$678,258
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1777 E Arenas Rd
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