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Palm Desert Garden Apartments 73600 San Gorgonio Way 25 Unit Apartment Building $3,995,000 ($159,800/Unit) 5.10% 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 |
$414,312
|
$26.72
|
| Other Income |
$13,237
|
$0.85
|
| Vacancy Loss |
$20,716
|
$1.34
|
| Effective Gross Income |
$406,833
|
$26.24
|
| Taxes |
$48,919
|
$3.16
|
| Operating Expenses |
$154,346
|
$9.96
|
| Total Expenses |
$203,265
|
$13.11
|
| Net Operating Income |
$203,568
|
$13.13
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $414,312 |
| Annual Per SF | $26.72 |
| Other Income | |
|---|---|
| Annual | $13,237 |
| Annual Per SF | $0.85 |
| Vacancy Loss | |
|---|---|
| Annual | $20,716 |
| Annual Per SF | $1.34 |
| Effective Gross Income | |
|---|---|
| Annual | $406,833 |
| Annual Per SF | $26.24 |
| Taxes | |
|---|---|
| Annual | $48,919 |
| Annual Per SF | $3.16 |
| Operating Expenses | |
|---|---|
| Annual | $154,346 |
| Annual Per SF | $9.96 |
| Total Expenses | |
|---|---|
| Annual | $203,265 |
| Annual Per SF | $13.11 |
| Net Operating Income | |
|---|---|
| Annual | $203,568 |
| Annual Per SF | $13.13 |
PROPERTY FACTS
| Price | $3,995,000 | Apartment Style | Garden |
| Price Per Unit | $159,800 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.04 AC |
| Cap Rate | 5.10% | Building Size | 15,503 SF |
| Gross Rent Multiplier | 9.34 | No. Stories | 1 |
| No. Units | 25 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.1/1,000 SF |
| Property Subtype | Apartment | Cross Streets | San Carlos Ave. |
| Zoning | R3 - Multifamily | ||
| Price | $3,995,000 |
| Price Per Unit | $159,800 |
| Sale Type | Investment |
| Cap Rate | 5.10% |
| Gross Rent Multiplier | 9.34 |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.04 AC |
| Building Size | 15,503 SF |
| No. Stories | 1 |
| Year Built | 1964 |
| Parking Ratio | 1.1/1,000 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 | $48,919 ($3.16/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
$48,919 ($3.16/SF)
Tax Year
2025 Payable 2025
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Palm Desert Garden Apartments | 73600 San Gorgonio Way
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