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$ 935,000
Est. payment /mo
Price Dropped by $15K
11771 Upland WAY Desert Hot Springs, CA 92240
9 Beds
7 Baths
0.34 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 219143150
Bedrooms 9
Full Baths 7
HOA Y/N No
Year Built 2024
Lot Size 0.340 Acres
Property Sub-Type Apartment
Property Description
Rare investment opportunity in Desert Hot Springs trading at an 8.61 GRM with a clear path to a 9.44% stabilized cap. This 2024 built 7 unit property features a versatile mix for rental income: 1 fully detached 2BD/1BA, 1 attached 2BD/1BA, 1 1BD/1BA, and 4 studios. All units sit behind a private gate, providing privacy and security for tenants. Current gross rents of $9,191/mo ($110,292/yr) are in place and documented, with six of seven units occupied.
The operational story is what separates this deal. Seven individual electric meters, designed in at construction, mean tenants absorb the single largest line item in the Coachella Valley, the summer cooling bill. Combined with the lower maintenance profile of new construction, this drives owner operating expenses to just 27% of gross income.
Conveniently located near local amenities, shopping, and easy freeway access, the asset is ideal for the investor seeking a turnkey rental portfolio or the owner occupant looking to offset a mortgage with six streams of rental income. No deferred maintenance, no CapEx event, no refresh cycle. Just rent mark to market as leases turn. Full pro forma, T12 expenses, and rent roll available
The operational story is what separates this deal. Seven individual electric meters, designed in at construction, mean tenants absorb the single largest line item in the Coachella Valley, the summer cooling bill. Combined with the lower maintenance profile of new construction, this drives owner operating expenses to just 27% of gross income.
Conveniently located near local amenities, shopping, and easy freeway access, the asset is ideal for the investor seeking a turnkey rental portfolio or the owner occupant looking to offset a mortgage with six streams of rental income. No deferred maintenance, no CapEx event, no refresh cycle. Just rent mark to market as leases turn. Full pro forma, T12 expenses, and rent roll available
Location
State CA
County Riverside
Area 340 - Desert Hot Springs
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace false
Exterior
View Y/N false
Private Pool No
Building
Story 2
Entry Level One,Two
Sewer In, Connected and Paid
Level or Stories One, Two
Others
Senior Community No
Acceptable Financing 1031 Exchange, Cash
Listing Terms 1031 Exchange, Cash
Special Listing Condition Standard
Listed by eXp Realty Of Southern California Inc