1800 Smoke Tree Lane
Palm Springs, CA 92264
MLS #216030166DA

Income
  • 53units
  • 425sq ft
$2,950,000
Est. P&I payment: $11267/mo
1800 Smoke Tree Lane, Palm Springs, CA 92264
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Description for 1800 Smoke Tree Lane, Palm Springs, CA 92264
Sellers motivated! Updated information provided 11.20.17 - now a 5% cap rate! Smoke Tree Apartments - 51 studio apartments and 2 one bedrooms units; rarely a vacancy. Attractive Pool, Spa, very well maintained. Located just off Hwy. 111, between two large shopping centers, restaurants, supermarkets, amenities, and only minutes to downtown Palm Springs and Palm Springs international airport. It includes an approximate 1 acre of vacant land for expansion. Property information sheet is attached (click on staple above) Zoned for Sober or Assisted living with CUP - Potential to QUADRUPLE income!
MLS #216030166DA
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My Notes for MLS #216030166DA

General Features

  • Number Of Buildings: 7
  • Number Of Units Total: 53
  • Zoning: RGA
  • Subdivision Name: Smoketree Ranch
  • Subdivision Name Other: Smoketree Ranch

Exterior Features

  • Construction Materials: Frame
  • Roof: Shingle,​Composition
  • Lot Features: Landscaped,​Paved,​Sprinklers On Side,​Front Yard
  • Lot Size SqFt: 143,312
  • View YN: 1
  • Direction Faces: West
  • Entry Location: Other
  • Pool Private YN: 1
  • Pool Features: Gunite,​In Ground,​Exercise Pool
  • Property Condition: Updated/Remodeled
  • Architectural Style: Traditional

Interior Features

  • Interior Features: Balcony
  • Room Type: See Remarks
  • Spa YN: 1
  • Spa Features: Heated,​Gunite
  • Average Studio Area: 400

Utility Features

  • Heating YN: 1
  • Heating: Forced Air,​Natural Gas
  • Laundry Equipment Own Lease: Own
  • Utilities: Cable Available,​Underground Utilities
  • Appliances YN: 1
  • Appliances: Gas Cooking

Financial Features

  • Electric Expense: 25,700
  • Laundry Income: 3,719
  • Maintenance Expense: 43,798
  • Net Operating Income: 209,534
  • Operating Expense: 206,025
  • Other Expense: 59,519
  • Other Income1: 120
  • Price Per SqFt: 6,941.18
  • Professional Management Expense: 24,694
  • Supplies Expense: 285
  • Total Expenses: 206,025
  • Trash Expense: 8,457
  • Water Sewer Expense: 12,394
  • Land Lease YN: 1
  • Land Lease Amount: 59,519
  • Cable Tv Expense: 24,422
  • Fuel Expense: 10,136
  • Gardner Expense: 10,021
  • Gross Income: 34,310
  • Gross Multiplier: 7.17
  • Gross Operating Income: 415,559
  • Licenses Expense: 1,942
  • Operating Expense Percent: 50
  • Pest Control Expense: 600
  • Pool Expense: 4,021
  • Price Per Unit: 55,660
  • Total Actual Rent: 411,720

Community Features

  • Community Features: Street Lighting,​Storm Drains,​Sidewalks,​Curbs
  • Association Amenities: Common RV Parking,​Club House,​Pet Rules,​Onsite Property Management,​Meeting Room,​Card Room

Miscellaneous Features

  • Building Area Total: 425
  • Days On Market: 369
  • Inclusions: Large clubhouse and management office,​ approximately 1 acre of unimproved land.
  • Lot Size Source: Assessor
  • Special Listing Conditions: Standard
  • Cumulative Days On Market: 483

Location

 
Street View Not Available
Directions to 1800 Smoke Tree Lane, Palm Springs, CA 92264
Take Hwy 111 to Smoke Tree Lane, go south 1/2 block, located on east side of street.
Listing information for 1800 Smoke Tree Lane, Palm Springs, CA 92264 was graciously provided by our friends at the listing brokerage, Leonard Bustos & Associates and by listing agent Bustos Leonard DRE# 00865572

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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Alliance Realty's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Alliance Realty, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 01/18/2018 at 3:37am
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