73600 San Gorgonio Way

Palm Desert, CA 92260

$4,500,000
Price
3
Beds
25
Baths
15,503 Sq. Ft.
$290 / Sq. Ft.
15,503
Sq. Ft.
$290
per Sq. Ft.

Description

Palm Desert Garden Apartments is a 25-unit multifamily investment property located at 73600 San Gorgonio Way, Palm Desert, CA. Situated on a 1.04-acre lot, Palm Desert Garden Apartments offers a diverse mix of studio, one-, and two-bedroom floor plans, some of which feature private patios. Additionally, the property features single-story construction, a highly desirable characteristic to prospective renters. Furthermore, Palm Desert Garden Apartments features attractive amenities such as a swimming...Palm Desert Garden Apartments is a 25-unit multifamily investment property located at 73600 San Gorgonio Way, Palm Desert, CA. Situated on a 1.04-acre lot, Palm Desert Garden Apartments offers a diverse mix of studio, one-, and two-bedroom floor plans, some of which feature private patios. Additionally, the property features single-story construction, a highly desirable characteristic to prospective renters. Furthermore, Palm Desert Garden Apartments features attractive amenities such as a swimming pool, a spa, storage sheds, and ample surface parking. Palm Desert Garden Apartments is situated in an optimal Palm Desert location, within walking distance to a plethora of retail, dining, and entertainment options along the Highway 111 retail corridor. Additionally, the property benefits from its close proximity to College of The Desert, helping to attract a diverse renter pool. Furthermore, Palm Desert Garden Apartments’ location, moments away from a multitude of golf courses and parks, provides residents with convenient access to outdoor activities. The property’s desirable single-story construction and attractive Palm Desert location are primary draws for potential renters. This overall demand for well-located rental units will be a key driver in the continued growth and success at Palm Desert Garden Apartments.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com

Property Details for 73600 San Gorgonio Way

Parking Spaces Total
17
Private Pool
No
Total Units
25.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
15503
Assessor Parcel Number
627-142-017
Property Attached YN
false
LISTING UPDATED: 12/16/2024 08:49 AM

Property Details for 73600 San Gorgonio Way

StatusActive
MLS #OC24250471
Days on MarketListed Today
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1964
CountyRiverside County

Building Information for 73600 San Gorgonio Way

Building/Complex73600 San Gorgonio WayFloor-Stories1Residences-Pet Policy-Year Built1964Building Size-

Property Information for 73600 San Gorgonio Way

Income / Expense / Tax Details
Income Details
  • Gross Income: $408,266
  • Gross Scheduled Income: $397,392
  • Vacancy Allowance: 19870
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $377,522
  • Net Operating Income: $206,069
  • Other Income Description: Misc
  • Other Income 1: $10,874
  • Gross Multiplier: 11.02
  • Cap Rate: 4.58
Expense Details
  • Operating Expense: $182,328
  • Operating Expense Percent: 46.90%
  • New Taxes Expense: $55,103
  • Fuel Expense: $6,775
  • Electric Expense: $6,775
  • Insurance Expense: $23,013
  • Maintenance Expense: $12,500
  • Professional Management Expense: $19,420
  • Other Expense: $45,189
  • Other Expense Description: Misc
  • Trash Expense: $6,775
  • Water Sewer Expense: $6,778
  • Total Expenses: $182,328
Tax / Assessment Info
  • Tax Block: 6
  • Tax Tract Number: 45127
  • Tax Census Tract: 451.27
  • Tax Lot: 9
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: No
  • Laundry Features: None
  • Heating Type: Central
  • Heating: Central
Exterior Features
  • Entry Location: First level
  • Pool Features: Community
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 25
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: One
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Uncovered Spaces: 17
  • Open Other Spaces Total: 17
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: Other
  • Builders Tract Code: Other (OTHR)
Unit Information
Unit 1
  • Unit Type Units Total: 11
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $12,996
  • Unit Type Total Rent: $12,996
  • Unit Type Pro Forma: 15325
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $6,289
  • Unit Type Total Rent: $6,289
  • Unit Type Pro Forma: 7925
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 9
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $13,831
  • Unit Type Total Rent: $13,831
  • Unit Type Pro Forma: 17900
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 7
  • Number Of Separate Electric Meters: 25
  • Number Of Separate Gas Meters: 25
  • Number Of Separate Water Meters: 1

Property History for 73600 San Gorgonio Way

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 73600 San Gorgonio Way

Taxable ValueLand$288,886Additions$1,356,406Total$1,645,292
Tax Record2024$31,343 ($2,612 / month)
Home Facts
Total Finished SqFt1,904 SqFtAbove Grade Finished SqFt1,904 SqFtStories1Lot Size45,302 SqFtStyleMulti-Family Res (5+ Units)Year Built1947ZoningR3CountyRIVERSIDEAPN627-142-017

Schools near 73600 San Gorgonio Way

This home is within Desert Sands Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 8
Rating
School
Distance
Abraham Lincoln Elementary School
PublicK to 5

La Quinta Middle School
Public6 to 8

Palm Desert High School
Public9 to 12

Palm Desert Charter Middle School
Charter6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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73600 San Gorgonio Way is a multi-family home for sale in Palm Desert, CA 92260. This property was listed for sale on December 16, 2024 by Marcus & Millichap RE Invest, it's currently listed at $4,500,000. This listing's school district is Desert Sands Unified School District. Nearby schools include Abraham Lincoln Elementary School, La Quinta Middle School and Palm Desert High School. 73600 San Gorgonio Way is a 3-bed, 25-bath, 15,503 sqft multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.