Click on the following link to see the property's financial analysis:
https://drive.google.com/file/d/0B5UxaxpDt6d2NlpZbnh3M0JQclk/view?usp=sharing
First of all, the location is very desirable. Neighboring properties are very attractive.
Second, the property produces cash flow for the buyer. I reviewed their proforma numbers, and they're reasonable. An interested and involved owner can reach almost 13% cash on cash (considering debt reduction).
Finally, the apartment market in the Coachella Valley may be the strongest sector in commercial real estate. Multifamily is a good long-term bet, with a back-up plan to take advantage of a healthy tourism market. They're even building new condos nearby (almost unheard of). The vacant land at the extreme left of the following photo is now being used for nice condos, almost completed.
If you're an investor looking for an excellent Palm Springs apartment investment, call me for more information, Bruce Haulley 760 421 1303.
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