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40235-40255 Harris Ln
Palm Desert, CA 92211 Outlying Palm Springs

$6,000,000 USD

Apartments For Sale • 24,360 SF

Property Details

Property Type Apartments
Total Building Size 24,360 SF
Lot Size 3.29 AC
Building Class C
Year Built 1980
Cap Rate 5.04 %
Zoning R-3, Palm Desert

0 Transit Score

72 Walk Score

                
                    Highlights
                
                                Ideal Opportunity to Acquire a 24-Unit Property in Palm Desert with a 5.04% Cap Rate Already In Place
                            
                                Well-Kept ±24,360 SF Property Situated on a Spacious ±143,312 SF Lot Built in 1980
                            
                                Condo Map Property with Each Unit Having its Individual APN
                            
                                Featuring All Two-Bedroom Townhome Floor Plans | Average Unit Size of 1,015 SF Feet
                            
                                Value-Add Opportunity; Approximately 21% Rental Upside Potential
                            
                                Extensively Renovated and Upgraded Property Including: New Appliances, Replace Bath Tubs/Sinks, Replace Ceiling Fans, Replace AC/Heating, New Flooring

Financial Summary (Actual)

Net Operating Income: $302,455 USD (2023)

Cap Rate:	5.04 %
Total Expenses:	$241,685 USD

Amenities

Air Conditioning
Balcony
Pool
Spa
Storage Space
Tennis Court
Washer/Dryer Hookup
Stainless Steel Appliances
Tub/Shower
Dining Room

Public Transportation

Airport	Drive	Walk	Distance
Palm Springs International	22 min	-	15.7 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	48
Type:	Covered
Included in Rent:	Yes

Eric Chen 909-418-2071 CBRE, Inc.

40235-40255 Harris Ln Palm Desert, CA 92211 Outlying Palm Springs