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Listed by Ryan Loria, DRE #02006138 • Triqor Group
$ 1,800,000
Est. payment /mo
Active
37250 Bankside DR Cathedral City, CA 92234
0.36 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26156345
Year Built 1963
Lot Size 0.360 Acres
Source California Regional MLS
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.
Location
State CA
County Riverside
Area 335 - Cathedral City North
Interior
Laundry Laundry Area
Exterior
Garage Spaces 12.0
Pool Pool - Yes
Building
Lot Description Irregular
Water District - Public
Others
Tax ID 687101002
Special Listing Condition Not Applicable
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