1.28 acres | #IV24170406
Description
The property possesses an extremely attractive unit mix of large two story townhouse style units. The Property is composed of Sixteen (16) Large Three Bedroom units, and (8) Oversized Four-Bedroom units. ProForma CAP Rate of 6.40%. ProForma CAP Rate is based on rental increase Year 2. Offering actual CAP rate of 6.00%. ProForma GRM of 9.97 with a current GRM of 10.44 Property being offered at a below market cost per square footage. Comparable sold properties in the Submarket areas are currently being trading at $325.81/SF. Subject property is priced below replacement costs. The buildings currently operates at 100% occupancy. Indio is a city in Riverside County, California, United States, located in the Coachella Valley of Southern California's Colorado Desert region.
Property Details
- Lot DescriptionTwoToFiveUnitsAcre
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- Original List Price$6,800,000
- MLS #IV24170406
- MLS #IV24170406
- CountyRiverside
- Property SubtypeApartment
- Cost6595000
- Utility SourcePublic
- Acres1.28
- Year Built1980
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: ALBERT LE (#IVLEALBER)
Listing Office: LE INVESTMENT GROUP (#IVLEIN)
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