1945 Calle Lileta
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1945 Calle Lileta
5 Unit Apartment Building $1,695,000 ($339,000/Unit) 3.60% Cap Rate Palm Springs, CA 92262
Investment Highlights
- Premium Location in Central Palm Springs
- Corner Lot with 2 parking spaces per unit
Executive Summary
Premium 5 unit building located in Central Palm Springs. Each unit remodeled in 2022/2023 with granite counter tops, dual pane windows, stainless steel appliances. Each unit is rented to long term tenants. Easy walking distance to shopping, restaurants.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$112,000
|
$25.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$112,000
|
$25.54
|
| Taxes |
-
|
-
|
| Operating Expenses |
$48,000
|
$10.95
|
| Total Expenses |
$48,000
|
$10.95
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $112,000 |
| Annual Per SF | $25.54 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $112,000 |
| Annual Per SF | $25.54 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $10.95 |
| Total Expenses | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $10.95 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,695,000 | Apartment Style | Low Rise |
| Price Per Unit | $339,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 3.60% | Building Size | 4,385 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 15 | No. Stories | 1 |
| No. Units | 5 | Year Built/Renovated | 1990/2023 |
| Property Type | Multifamily | Parking Ratio | 2.28/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,695,000 |
| Price Per Unit | $339,000 |
| Sale Type | Investment |
| Cap Rate | 3.60% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 15 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 4,385 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1990/2023 |
| Parking Ratio | 2.28/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Views
- Carpet
- Yard
- Dining Room
- Garden
- Lawn
- Window Coverings
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 5 | - | 877 |
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Walk Score ®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 502-182-001 | Improvements Assessment | $571,809 (2023) |
| Land Assessment | $150,170 (2023) | Total Assessment | $721,979 (2023) |
PROPERTY TAXES
Parcel Number
502-182-001
Land Assessment
$150,170 (2023)
Improvements Assessment
$571,809 (2023)
Total Assessment
$721,979 (2023)
zoning
| Zoning Code | R2, Palm Springs |
| R2, Palm Springs |
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Presented by
Jeannie Niles Real Estate Investment
1945 Calle Lileta
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