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27700 Avenida Terrazo

7 Unit Apartment Building $1,800,000 ($257,143/Unit) 3.95% Cap Rate Cathedral City, CA 92234

Investment Highlights

  • Close proximity to I-10 and commercial centers.
  • This is the only multi-family property in this Single Family Residential area.

Executive Summary

Exceptional opportunity to acquire a 7 unit, well maintained, rental property in a lovely rediential neighborhood of single family homes. Consisting of six 1 bedroom, 1 bath units and one 2 bedroom, 2 bath unit, all units have separate gas and electric meters enabling tenant paid utilities.There is a common laundry room for the use of the tenants, which also generates additonal income for the owner. This unique property, just off of Vista Chino, is located close to all of the neighborhood amenities, including shopping, entertainment and easy access to the I-10 Freeway. A property of this type is a rarity in today's real estate market. The principal of the Seller LLC is a licensed California Real Estate Broker. Buyer will cooperate with the Seller by agreeing to conduct the purchase utilizing an IRS Section 1031 Tax Deferred Exchange transaction, at no expense to Buyer. Buyer is advised to conduct their own due diligence in determining the financial viability of their investment in the property. Seller will provide all available financial information to the Buyer upon the Buyer submitting evidence of financil credibility to complete the traqnsaction and execute an NDA.

Financial Summary (Pro forma - 2025) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro forma - 2025) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $1,800,000
Price Per Unit $257,143
Sale Type Investment
Cap Rate 3.95%
Sale Conditions 1031 Exchange
Gross Rent Multiplier 16.6
No. Units 7
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.43 AC
Building Size 4,131 SF
No. Stories 1
Year Built/Renovated 1983/2018
Parking Ratio 1.43/1,000 SF

Unit Amenities

  • Air Conditioning

Site Amenities

  • 24 Hour Access
  • Laundry Facilities
  • Smoke Detector

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 6 $1,399 480
2+2 1 $1,610 900

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
677-173-055
Land Assessment
$214,439 (2023)
Improvements Assessment
$852,399 (2023)
Total Assessment
$1,066,838 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025

zoning

Zoning Code R1, Cathedral City (Residential)
R1, Cathedral City (Residential)
  • Listing ID: 33723372

  • Date on Market: 11/1/2024

  • Last Updated:

  • Address: 27700 Avenida Terrazo, Cathedral City, CA 92234

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