37250 Bankside Dr, Cathedral City, CA 92234
- $1,800,000
- 8
- BD
- 12
- BA
- 6,680
- SqFt
- List Price
- $1,800,000
- MLS#
- PW26156345MR
- Status
- ACTIVE
- Type
- Multifamily
- Bedrooms
- 8
- Bathrooms
- 12
- Living Area
- 6,680
- Neighborhood
- Cathedral City Cove
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
- Year Built
- 1963
Mortgage Calculator
Courtesy of Triqor Group, Ryan Loria.
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