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.
Seven properties went into escrow in October.
For Coachella Valley
Multi-family properties have been the hardest hit segment in the desert area for number of sales during the current real estate downturn.
I am always frustrated how the media and other trade groups use statistical data to prove the point they want to make, thus I like to do my own statistical research.
It can be very profitable purchasing bank owned properties in the current real estate market.
Some of the most outrageous episodes in property ownership that the owners lived to tell about.
Only 5% sales agents or brokers actually own investment property, and only 10% actually sell a property.
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