37250 Bankside Drive, Cathedral City, CA 92234
- $1,800,000
- List Price
- $1,800,000
- Status
- ACTIVE
- MLS#
- PW26156345
- Year Built
- 1963
- Lot Size
- 15,682
- Acres
- 0.36
- Lot Location
- Irregular Lot
- Days on Market
- 10
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Neighborhood
- .
Property Description
We are pleased to present Bankside Apartments, well-maintained and upgraded 12-unit apartment community located in Cathedral City, CA. The property offers an attractive unit mix consisting of spacious, single-story Studio, 1-bedroom, and 2-bedroom units. Eleven of the twelve units have been thoughtfully renovated with wood-look porcelain tile flooring, upgraded kitchens and bathrooms, stainless sinks, and dual-pane windows. The community features a sparkling swimming pool within a gated courtyard, central heating and air conditioning, an on-site laundry facility, open parking, and all-new electrical panels. Bankside Apartments presents a compelling value-add opportunity with approximately 45% upside in rental income. Through the continued implementation of market rents, a new owner has the potential to significantly increase cash flow and achieve an estimated 8.2% capitalization rate, making this an attractive investment in one of the Coachella Valley’s strongest rental markets.
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Additional Information
- Pool
- Yes
- Pool Description
- Private
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 12
- Gross Scheduled Income
- $154,860
- Operating Expense
- 70138
Listing courtesy of Listing Agent: Ryan Loria (Ryan.Loria@TriqorGroup.com) from Listing Office: Triqor Group.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.