Investment Overview

Marcus & Millichap is pleased to exclusively present Monta Vista Townhomes, a 24-unit multifamily community located in Palm Desert, California. Built in 1981 and fully renovated in 2011, Monta Vista provides a contemporary atmosphere with sleek interiors and plentiful recreational activities. The property consists of three buildings constructed of wood frame, stucco exteriors, and concrete slab foundation atop of 3.2 acres of land. The property presents 24 spacious two-bedroom, one and one-half bathroom floor plans. Units feature new kitchen cabinets, stainless steel appliances, granite countertops, and travertine ceramic tile flooring throughout the living areas and bathrooms. Each unit is equipped with full-sized washer and dryer hook-ups as well as one carport that hosts two vehicles. Common area amenities include a resort-style swimming pool, furnished sundeck, a dog run, and beautiful tennis courts.
Monta Vista Townhomes presents an investor a turnkey investment with significant upside. Value add may be captured through developing additional rental units on the eastern portion of the property. There is also a possibility to develop units where the tennis courts are currently. In addition, each unit is parceled for condominiums which allows an investor to sell off the units individually for a premium when the market dictates. All future development must be verified through the city.
Monta Vista Townhomes is ideal for an investor looking to acquire a well-positioned asset in an area poised for continued growth. The property has historically proven consistent rental growth, strong occupancy, and still shows opportunity to add value.