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66327 7th St 6 Unit Apartment Building $789,000 ($131,500/Unit) 8.64% Cap Rate Desert Hot Springs, CA 92240
Investment Highlights
- Pro Forma CAP Rate of 9.65% with a Pro Forma GRM of 7.23, compared to a current CAP Rate of 8.64%
- Current ownership focus has been on quality improvements of the property, the latest improvements being the roof, exterior paint, A/C units, & wiring.
- Owner pays all remaining utilities (water, trash, and gas) for County and Non-County programmed tenants.
- The property features an efficient unit mix consisting of Five (5) Studio Units and One (1) One-Bedroom / One-Bathroom Unit.
- County Program implemented for some tenants (Units 2 & 4), which include paid rent and electricity.
- The area offers quick connectivity to Highway 62 and Interstate 10, granting direct routes to Joshua Tree National Park, Rancho Mirage, & more.
Executive Summary
This Six (6) Unit Apartment Property is located at 66327 7th Street, Desert Hot Springs, CA 92240. The property is comprised of Five (5) Studio Units and One (1) One- Bedroom / One-Bathroom Unit, totaling approximately 2,500 square feet of living area situated on a 0.15-acre lot. Originally constructed in 1960, the asset offers a simple and efficient unit mix well-suited for consistent occupancy, appealing to both long-term tenants and workforce housing demand within the area. Its manageable size and layout present a practical investment opportunity with potential for rental upside and operational ease.
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 | $789,000 | Building Class | C |
| Price Per Unit | $131,500 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 3,500 SF |
| Cap Rate | 8.64% | Average Occupancy | 75% |
| Gross Rent Multiplier | 7.86 | No. Stories | 1 |
| No. Units | 6 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 1.6/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | TR | ||
| Price | $789,000 |
| Price Per Unit | $131,500 |
| Sale Type | Investment |
| Cap Rate | 8.64% |
| Gross Rent Multiplier | 7.86 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,500 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 1.6/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | TR |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | $1,275 | 550 |
| 1+1 | 1 | $1,600 | 600 |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 639-202-008 | Improvements Assessment | $532,440 (2026) |
| Land Assessment | $94,860 (2026) | Total Assessment | $627,300 (2026) |
Property Taxes
Parcel Number
639-202-008
Land Assessment
$94,860 (2026)
Improvements Assessment
$532,440 (2026)
Total Assessment
$627,300 (2026)
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