82329 VALENCIA AVENUE, INDIO, CA 92201

82329 VALENCIA AVENUE, INDIO, CA 92201

DRE# 02051182

O: 760.837.1880 72100 Magnesia Falls Drive, Ste 2 Rancho Mirage, CAwilson-meade.com

MULTI-FAMILY PROPERTY | 6 UNIT APARTMENTFOR SALE | $699,000

SCOTT R. WILSONCO-FOUNDERDRE# [email protected]

STEVE SANCHEZEXECUTIVE VICE PRESIDENTDRE# [email protected]

Information has been secured from sources we believe to be reliable, however, WILSON MEADE cannot guarantee its accuracy. WILSON MEADE COMMERCIAL REAL ESTATE | 2020

PROPERTY INFORMATION

Asking Price: $699,000 Property Type: Multifamily

Subtype: Apartment Building Investment Type: Stabilized

Class: C Square Footage: 4,400 Sq. Ft.

Net Rentable: 4,400 Sq. Ft. Price/Sq. Ft.: $158.86

Cap Rate: 6.10% Pro-Forma Cap Rate: 6.44%

Occupancy: 100% NOI: $42,609

Pro-Forma NOI: $44,989 Units: 6

Year Built: 1960 Buildings: 3

Stories: 1 Permitted Zoning: R-3

Lot Size (acres): 0.28 Acres Broker Co-Op: No

APN: 611-042-012 Price/Unit: $116,500

Ground Lease: No Ownership: Fee Simple

PROPERTY HIGHLIGHTS

DETAILS

• W/D Hookups• Window A/C• Security Gate• Separately Metered Water for units A,B,C, and D (Upside: Renew the

leases and have the tenants pay for their own water)• Units E and F share 1 water meter• Separately Metered Gas (Tenants pay)• Separately Metered Electricity (Tenants pay)• (2) 1 Bedrooms / 1 Baths• (4) 2 Bedrooms / 1 Baths• Single-Story Construction



PROPERTY INFORMATION

PER THE SELLER:

• Price is firm, please do not make an offer and try to renegotiate the price/terms.• Property is being sold in “as-is” condition.• Due Diligence items are being provided to include: Rent roll, Seller Property Questionnaire, pictures of the property, etc.• Due to COVID-19: Upon a mutually executed purchase agreement, Seller cannot guarantee Buyer will be able to inspect any or

all units; the Tenants do not feel comfortable with allowing anyone in their units. Buyer will be able to walk the grounds/inspect the outside, but there is no guarantee Tenants will cooperate with inspections.

• Seller is pricing the property (Cap Rate/GRM) at a fair price to avoid back and forth negotiations (even if there is a cash-buyer).• Note: When you’re (Buyer) ready to make an offer, Seller wants to make sure you are satisfied with the terms, due diligence

items, and etc.• This is a C-Class property with good income.

As part of the Due Diligence items, Seller will provide:1. Rent Roll2. Lease Agreements3. Seller Property Questionnaire (CAR Form SPQ)4. Estoppel’s (CAR Form)5. Termite Inspection Report (During Escrow)6. Clear Title Report7. Water Bills8. Electric Bills9. Gas Bills10. Trash Paid by Tenants 11. List of repairs/renovations


INVESTMENT HIGHLIGHTS

Unit Bed Bath Current Rent 7.2% IncreaseA 1 bed 1 bath $720 $722

B 1 bed 1 bath $950 $1,019C 2 bed 1 bath $899 $964D 2 bed 1 bath $995 $1,067E 2 bed 1 bath $940 $1,008F 2 bed 1 bath $995 $1,067

Total $5,499 $5,757



INCOME & EXPENSE SUMMARY

Scheduled Gross Income $65,988Less 3% Vacancy ($1,980)TOTAL GROSS OPERATING INCOME $64,008

Tax (New) $12,203Insurance* $1,725Maintenance/Repairs* $2,100Water* $2,256Pest Control* $360Fire Extinguisher* $115Tree Trim $500Manager (4%)* $2,640TOTAL EXPENSES $21,899*Value based on estimated expenses

Gross Operating Income $64,008Less Expenses ($21,899)NET OPERATING INCOME $42,109

INCOME

EXPENSES

SUMMARY SALE PRICE $699,000CAP Rate 6.02%GRM 10.59Cost Per Unit $116,500

82329 Valencia Avenue, Indio, CA 92201


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SUBJECT PROPERTY


DRE# 02051182

MEE T THE TE AM

SCOTT WILSONCO-FOUNDER

DRE# [email protected]

760-413-0656

STEVE SANCHEZEXECUTIVE VICE PRESIDENTMARINE CORPS VETERAN

DRE# [email protected]

760-485-1033

O: 760.837.1880 72100 Magnesia Falls Drive, Ste 2 Rancho Mirage, CAwilson-meade.com

Documents

82329 VALENCIA AVENUE, INDIO, CA 92201