37250 Bankside Drive, Cathedral City, CA 92234
- $1,800,000
List Agent Ryan Loria () Triqor Group; CoList ()
- List Price
- $1,800,000
- Status
- ACTIVE
- MLS#
- PW26156345
- Year Built
- 1963
- Lot Size
- 15,682
- Lot Location
- Irregular Lot
- Days on Market
- 12
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Neighborhood
- .
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.
Additional Information
- Pool
- Yes
- Pool Description
- Private
- Sewer
- Public Sewer
- Water
- Public
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Based on information from CRISNet MLS as of . All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.