Jeannie Niles Real Estate Investment
 |
44667 San Pablo, Palm Desert, CA
All units have been upgraded within the past 2 years. All 2 bedrooms/2 baths with ceramic tile throughout the apartment. Added income from the non-permitted studio apartment - $750/mo rent. Carport for the units, with extra off-street parking for guests or 2nd cars. Swimming pool and spa with upgraded security gates. The 6th unit is a non-conforming studio that has not been permitted by the city.
| Monthly | Annually | ||
|---|---|---|---|
| Rents | 5,475 | 65,700 | |
| Vacancy and Credit Loss | 274 | 3,285 | |
| Gross Operating Income | 5,201 | 62,415 | |
| Advertising | 45 | 540 | Actual 2007 |
| Cleaning | 93 | 1,116 | Actual 2007 |
| Gardening | 414 | 4,968 | Actual 2007 |
| Insurance | 311 | 3,732 | Actual 2007 |
| Licenses and Permits | 53 | 636 | Actual 2007 |
| Pest Control | 2 | 24 | Actual 2007 |
| Repairs and Maint. | 300 | 3600 | Actual 2007 |
| Pool Service | 398 | 4,776 | Actual 2007 |
| Property Taxes | 755 | 9,060 | Projected @ 1.25% |
| Property Management | 520 | 6,242 | Projected @ 10% |
| Utilities: | |||
| Trash | 127 | 1,524 | Actual 2007 |
| Water | 202 | 2,424 | Actual 2007 |
| Gas and Electric | 289 | 3,468 | Actual 2007 |
| Total Operating Expenses | 3,509 | 42,110 | |
| Net Operating Income | 1,692 | 20,306 | 65% |
Cap Rate 2.8 725,000
Directions: Hwy 111 to San Pablo, north to San Gorgonio Way, property on north-west corner of San Pablo and San Gorgonio Way.
Above is a model and no guarantees are implied by broker.
I've started a blog to provide clients my perspective on recent market trends, and sage advice collected from the life of a seasoned investment broker.
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Every investor's situation is unique, and I have over 25 years experience solving problems. Use the form below to ask me about your unique needs.
Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
