400 N Palm Drive
Blythe, CA 92225
MLS #16171852

Income
  • 70units
  • 66,000sq ft
$3,300,000
Est. P&I payment: $12603.76/mo
400 N Palm Drive, Blythe, CA 92225
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Description for 400 N Palm Drive, Blythe, CA 92225
Now fully rehabbed and vacant units ready to be leased up, Recently Foreclosed , Newer 1991 built Pride Garden apartment complex consisting of 70 units in 15 buildings plus rental office, of which 30 are 2 Bedroom 1 bath and 40 are 3 bedrooms 1.5 bath townhouse style, over 2.5 Million spent to rehab complex in 2008 total cost over $9M. Building is currently 50% rented with rents that are 30% below market , Market rents are 725 for the 2 bedrooms and 800-825 for the 3 bedrooms market rents, each unit has own laundry hook ups and water heater . Amenities include : Pool , Rec room, secured ample parking, each unit has its own outside private storage room, Tremendous long term upside on rents .
MLS #16171852
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My Notes for MLS #16171852

General Features

  • Number Of Buildings: 16
  • Number Of Units Total: 70
  • Year Built: 1991
  • Zoning: M1
  • Improvements Amount: 3,739,291
  • Land Value: 832,181

Exterior Features

  • Stories Total: 2
  • Lot Features: Sprinklers None
  • Lot Size SqFt: 402,494
  • Lot Size Units: Square Feet
  • Parking YN: 1
  • Parking Features: Parking Space

Utility Features

  • Cooling YN: 1
  • Cooling: Central
  • Laundry YN: 1
  • Laundry Features: See Remarks

Financial Features

  • CapRate: 9.4
  • Net Operating Income: 310,000
  • Price Per SqFt: 50
  • Total Expenses: 236,000
  • Gross Multiplier: 6
  • Gross Operating Income: 546,000

Miscellaneous Features

  • Building Area Total: 66,000
  • Days On Market: 408
  • Lot Size Source: Assessor
  • Special Listing Conditions: Standard
  • Cumulative Days On Market: 408

Location

 
Street View Not Available
Directions to 400 N Palm Drive, Blythe, CA 92225
10 Freeway exit Lovekin Blvd go North to Hobsonway ( East ) to Palm Drive ( North )
Listing information for 400 N Palm Drive, Blythe, CA 92225 was graciously provided by our friends at the listing brokerage, Century Realty Group and by listing agent Ostayan Sam DRE# 00956615

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P&I Payment $12603.76
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Last Updated 01/21/2018 at 6:08am
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