PALM SPRINGS, CATHEDRAL CITY, PALM DESERT, (COACHELLA VALLEY)
It’s unbelievable what multi-family (duplexes, triplexes and four plexes) prices are!
Here’s an example of the type of property I like and recommend to clients.
| Monthly | Annually | ||
|---|---|---|---|
| Rents | 2,100 | 25,200 | |
| Vacancy @5% | 105 | 1,260 | |
| Gross Operating Income | 1,995 | 23,940 | |
| Water and Electric | 50 | 600 | Projected |
| Gardening | 100 | 1,200 | Projected |
| Pool Service | 125 | 1,500 | Projected |
| Repairs and Mainenance | 100 | 1,200 | Projected |
| Insurance | 85 | 1,020 | Projected |
| Property Taxes | 220 | 2640 | Projected |
| Management | 200 | 2394 | 10% of gross rents |
| Total Operating Expenses | 880 | 10,554 | |
| Net Operating Income | 1,116 | 13,386 | <td
Listing Price: $209,900
A 6% cap rate???? Haven’t seen this since the mid 90’s. I prefer units that have a tile roof, ceramic tile flooring, no older than 1986 and in moderately good condition. I don’t mind doing paint, carpet and cosmetics, but I stay away from structural issues. Too many unknowns!
The attached photos are an actual property available for sale. Great condition, nice size units, strong rental area. Rental range will be from $1050 to $1200 per side.
Hi, I'm Jeannie. For over 25 years I've helped investors make money in markets both good and bad. 
