51704 Cesar Chavez St 6 Unit Apartment Building $1,495,000 ($249,167/Unit) 5.91% Cap Rate Coachella, CA 92236

SVN® Vanguard is pleased to present 51704–51710 Harrison Street (also known as 51704 Cesar Chavez Street), a mixed-use investment and value-add opportunity located at the signalized corner of Cesar Chavez Street and Cairo Street in Coachella, California. Situated on approximately 0.49 acres (±21,344 SF), the property consists of three ground-floor commercial storefronts, two second-floor 3-bedroom/1-bathroom apartments, and a recently renovated ±1,500 SF attached rear warehouse/storage space, along with ample on-site parking.
The commercial component includes a ±700 SF CPA office and a ±1,800 SF restaurant occupying two storefronts. The attached rear warehouse/storage space features HVAC, a private restroom, and separate rear access and is currently vacant and available for lease, providing a near-term lease-up opportunity.
The property currently generates approximately $101,670 in annual gross rental income with an estimated seller-provided in-place NOI of $88,390, representing a 5.91% in-place cap rate at the $1,495,000 asking price. Lease-up of the vacant warehouse at the current asking rent of $2,000/month ($24,000/year) results in an estimated pro forma NOI of $112,390 and a 7.52% pro forma cap rate, assuming no material change in operating expenses.
Zoned CG (General Commercial), the property offers flexibility for a variety of commercial uses. The sizable corner parcel and existing mixed-use configuration also provide potential for future repositioning or redevelopment, subject to buyer investigation, applicable zoning requirements, and municipal approvals.