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Listed by Ryan Loria • Triqor Group
$ 1,800,000
Est. payment /mo
New
37250 Bankside Drive Cathedral City, CA 92234
6,680 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 6,680 sqft
Price per Sqft $269
Subdivision Cathedral City Cove
MLS Listing ID PW-26156345
Year Built 1963
Lot Size 0.360 Acres
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
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 336 - Cathedral City South
Interior
Laundry Common Area
Exterior
Pool Private
Community Features Sidewalks
Building
Lot Description Irregular Lot
Sewer Public Sewer