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Palm Desert Garden Apartments 73600 San Gorgonio Way 25 Unit Apartment Building $4,250,000 ($170,000/Unit) 5.18% Cap Rate Palm Desert, CA 92260
INVESTMENT HIGHLIGHTS
- Offers a Mix of Studio, One-, & Two-Bedroom Floor Plans
- Private Patios (Select Units) | Swimming Pool & Spa | Storage Sheds | 17 Surface Spaces & Ample Street Parking
- Moments Away from College of The Desert, Attracting a Diverse Renter Pool
- Highly Desirable Single-Story Construction
- Within Walking Distance to a Plethora of Retail, Dining, & Entertainment Options Along the Highway 111 Retail Corridor
- In Close Proximity to a Multitude of Golf Courses & Parks, Providing Residents Convenient Access to Outdoor Activities
EXECUTIVE SUMMARY
The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Palm Desert Garden Apartments, a 25-unit multifamily investment property located in Palm Desert, CA.
Situated on a 1.04-acre lot, Palm Desert Garden Apartments offers a diverse mix of studio, one-, and two-bedroom floor plans, some of which feature private patios. Additionally, the property features single-story construction, a highly desirable characteristic to prospective renters. Furthermore, Palm Desert Garden Apartments features attractive amenities such as a swimming pool, a spa, storage sheds, and ample surface parking.
Palm Desert Garden Apartments is situated in an optimal Palm Desert location, within walking distance to a plethora of retail, dining, and entertainment options along the Highway 111 retail corridor. Additionally, the property benefits from its close proximity to College of The Desert, helping to attract a diverse renter pool. Furthermore, Palm Desert Garden Apartments’ location, moments away from a multitude of golf courses and parks, provides residents with convenient access to outdoor activities.
The property’s desirable single-story construction and attractive Palm Desert location are primary draws for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at Palm Desert Garden Apartments.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Situated on a 1.04-acre lot, Palm Desert Garden Apartments offers a diverse mix of studio, one-, and two-bedroom floor plans, some of which feature private patios. Additionally, the property features single-story construction, a highly desirable characteristic to prospective renters. Furthermore, Palm Desert Garden Apartments features attractive amenities such as a swimming pool, a spa, storage sheds, and ample surface parking.
Palm Desert Garden Apartments is situated in an optimal Palm Desert location, within walking distance to a plethora of retail, dining, and entertainment options along the Highway 111 retail corridor. Additionally, the property benefits from its close proximity to College of The Desert, helping to attract a diverse renter pool. Furthermore, Palm Desert Garden Apartments’ location, moments away from a multitude of golf courses and parks, provides residents with convenient access to outdoor activities.
The property’s desirable single-story construction and attractive Palm Desert location are primary draws for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at Palm Desert Garden Apartments.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$408,468
|
$24.98
|
| Other Income |
$10,367
|
$0.63
|
| Vacancy Loss |
$20,423
|
$1.25
|
| Effective Gross Income |
$398,412
|
$24.37
|
| Taxes |
$52,041
|
$3.18
|
| Operating Expenses |
$126,259
|
$7.72
|
| Total Expenses |
$178,300
|
$10.90
|
| Net Operating Income |
$220,112
|
$13.46
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $408,468 |
| Annual Per SF | $24.98 |
| Other Income | |
|---|---|
| Annual | $10,367 |
| Annual Per SF | $0.63 |
| Vacancy Loss | |
|---|---|
| Annual | $20,423 |
| Annual Per SF | $1.25 |
| Effective Gross Income | |
|---|---|
| Annual | $398,412 |
| Annual Per SF | $24.37 |
| Taxes | |
|---|---|
| Annual | $52,041 |
| Annual Per SF | $3.18 |
| Operating Expenses | |
|---|---|
| Annual | $126,259 |
| Annual Per SF | $7.72 |
| Total Expenses | |
|---|---|
| Annual | $178,300 |
| Annual Per SF | $10.90 |
| Net Operating Income | |
|---|---|
| Annual | $220,112 |
| Annual Per SF | $13.46 |
PROPERTY FACTS
| Price | $4,250,000 | Apartment Style | Garden |
| Price Per Unit | $170,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.04 AC |
| Cap Rate | 5.18% | Building Size | 16,351 SF |
| Gross Rent Multiplier | 10.15 | No. Stories | 1 |
| No. Units | 25 | Year Built | 1947 |
| Property Type | Multifamily | Parking Ratio | 1.04/1,000 SF |
| Property Subtype | Apartment | Cross Streets | San Carlos Ave. |
| Zoning | R3 - Multifamily | ||
| Price | $4,250,000 |
| Price Per Unit | $170,000 |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| Gross Rent Multiplier | 10.15 |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.04 AC |
| Building Size | 16,351 SF |
| No. Stories | 1 |
| Year Built | 1947 |
| Parking Ratio | 1.04/1,000 SF |
| Cross Streets | San Carlos Ave. |
| Zoning | R3 - Multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Range
- Patio
SITE AMENITIES
- Laundry Facilities
- Pool
- Spa
- Gated
- Cabana
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 11 | - | 469 |
| 1+1 | 5 | - | 579 |
| 2+1 | 9 | - | 828 |
1 1
Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 627-142-017 | Total Assessment | $1,671,922 |
| Land Assessment | $294,663 | Annual Taxes | $52,041 ($3.18/SF) |
| Improvements Assessment | $1,377,259 | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
627-142-017
Land Assessment
$294,663
Improvements Assessment
$1,377,259
Total Assessment
$1,671,922
Annual Taxes
$52,041 ($3.18/SF)
Tax Year
2025 Payable 2025
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Palm Desert Garden Apartments | 73600 San Gorgonio Way
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