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2200 Sahara Rd
Palm Springs, CA 92262
Multifamily Property For Sale
·
2 Units
Investment Highlights
- A 10-unit multifamily investment opportunity located in the desirable Desert Park Estates neighborhood of Palm Springs
- Desirable unit mix consisting of (4) one-bedroom / one-bathroom units and (6) studio units
- Individually metered for electricity; ownership currently pays water, sewer, trash, and gas; property is served by two water heaters
- Seven units feature private grass yards and three units feature private patios
- Resort-style amenities include a swimming pool, gated dog park area, lush landscaped grounds, and an on-site laundry room
- Conveniently located near Downtown Palm Springs, Palm Springs International Airport, shopping, dining, and entertainment amenities
Executive Summary
Marcus & Millichap is pleased to present Sahara Road Apartments, a 10-unit multifamily investment opportunity located at 2200 E Sahara Road in the desirable Desert Park Estates neighborhood of Palm Springs, California. Situated on an expansive ±0.57-acre lot, the property offers investors the opportunity to acquire a stabilized, pride-of-ownership asset in one of the Coachella Valley's most established and desirable rental markets.
Sahara Road Apartments consists of (4) one-bedroom / one-bathroom units and (6) studio units and is 100% occupied. The community features desirable single-story construction, attractive open floor plans, and well-maintained interiors that have been updated throughout the years of ownership. This true pride-of-ownership asset offers investors a stabilized investment opportunity with strong occupancy and an attractive resident environment.
Residents enjoy a highly amenitized living environment featuring a swimming pool, gated dog park area, lush landscaped grounds, and an on-site laundry facility. Additionally, seven units feature private grass yards and three units feature private patios, further enhancing tenant appeal. The property is individually metered for electricity, while ownership currently pays water, sewer, trash, and gas. Additional operational features include two water heaters and a variety of electric cooling systems throughout the property, including central air conditioning, mini-split systems, and wall-mounted A/C units.
Ideally located near Downtown Palm Springs, Palm Springs International Airport, major retail corridors, restaurants, and entertainment destinations, Sahara Road Apartments presents investors with the opportunity to acquire a well-maintained multifamily asset offering strong in-place occupancy, desirable amenities, and long-term investment potential within a highly sought-after Palm Springs location.
Sahara Road Apartments consists of (4) one-bedroom / one-bathroom units and (6) studio units and is 100% occupied. The community features desirable single-story construction, attractive open floor plans, and well-maintained interiors that have been updated throughout the years of ownership. This true pride-of-ownership asset offers investors a stabilized investment opportunity with strong occupancy and an attractive resident environment.
Residents enjoy a highly amenitized living environment featuring a swimming pool, gated dog park area, lush landscaped grounds, and an on-site laundry facility. Additionally, seven units feature private grass yards and three units feature private patios, further enhancing tenant appeal. The property is individually metered for electricity, while ownership currently pays water, sewer, trash, and gas. Additional operational features include two water heaters and a variety of electric cooling systems throughout the property, including central air conditioning, mini-split systems, and wall-mounted A/C units.
Ideally located near Downtown Palm Springs, Palm Springs International Airport, major retail corridors, restaurants, and entertainment destinations, Sahara Road Apartments presents investors with the opportunity to acquire a well-maintained multifamily asset offering strong in-place occupancy, desirable amenities, and long-term investment potential within a highly sought-after Palm Springs location.
Property Facts
| Price Per Unit | $875,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.00 AC |
| Cap Rate | 5.62% | Building Size | 7,241 SF |
| Gross Rent Multiplier | 11.38 | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 1.77/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-1C | ||
| Price Per Unit | $875,000 |
| Sale Type | Investment |
| Cap Rate | 5.62% |
| Gross Rent Multiplier | 11.38 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 7,241 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1956 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | R-1C |
Amenities
Unit Amenities
- Air Conditioning
- Oven
- Range
- Yard
- Patio
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Pool
- Gated
- Pet Play Area
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,094 | 500 |
| 1+1 | 1 | $1,438 | 700 |
Property Taxes
| Parcel Number | 501-352-003 | Improvements Assessment | $378,202 |
| Land Assessment | $132,584 | Total Assessment | $510,786 |
Property Taxes
Parcel Number
501-352-003
Land Assessment
$132,584
Improvements Assessment
$378,202
Total Assessment
$510,786
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