Multifamily

Villa Ramon Apartments

Listing Price: $4,995,000

Cap Rate
4.40%
Number of Units
19
Price/Unit
$262,895
Price/Gross SF
$262.89
Gross SF
19,000

Investment Overview

Villa Ramon Apartments is a 19-unit luxury apartment community located in Palm Springs, California. Palm Springs is in Riverside County, California. The city has seen a rapid growth in population over the last 20 years, more than doubling in size. Palm Springs, as of the 2010 census, has a population of 44,522 growing from 21,650 in the early 1990’s. As of the 2018 census, the Palm Springs population was 48,378. Villa Ramon Apartments is located in the heart of the highly desirable Warm Sands area. The area is Palm Springs most cosmopolitan neighborhood. The property is walking distance to all the entertainment, shopping, and dining venues of downtown. Blessed by a tranquil south-end climate, Villa Ramon Apartments is nicely sheltered from the strong winds that are common to the northern section of the city. Villa Ramon Apartments is a two-story complex surrounded by palm trees and desert friendly landscaping. The building is designed with an excellent unit mix of 19 spacious units comprised of all two-bedroom two-bathroom units averaging 1000 square feet. Each unit boasts 9-foot ceilings, walk-in closets, floor-to-ceiling fireplaces, private balconies/ backyards, central air conditioning, hot water heaters and two parking spaces per unit. As demonstrated by the current owner a new Buyer has the ability to increase rents through interior upgrades such as wood-look floors, updated kitchens/bathrooms, new appliances, and fixtures as units turn. The upgrades would allow the property to stay competitive with the renovated apartment communities in the immediate rental market.

Investment Highlights

  • Prime Palm Springs Location
  • Over Half the Units Rehabbed With New Flooring, Kitchen Counter tops, Kitchen Cabinets, New Appliances, Lighting Fixtures
  • Central Air Conditioning and Individual Hot Water Heaters

Exclusively Listed By

  • Andrew Irvine

    First Vice President Investments

    Email Andrew

    License(s): CA: 01927162

    Ontario

Listing Price: $4,995,000

Cap Rate
4.40%
Number of Units
19
Price/Unit
$262,895
Price/Gross SF
$262.89
Gross SF
19,000

Investment Highlights

  • Prime Palm Springs Location
  • Over Half the Units Rehabbed With New Flooring, Kitchen Counter tops, Kitchen Cabinets, New Appliances, Lighting Fixtures
  • Central Air Conditioning and Individual Hot Water Heaters

Investment Overview

Villa Ramon Apartments is a 19-unit luxury apartment community located in Palm Springs, California. Palm Springs is in Riverside County, California. The city has seen a rapid growth in population over the last 20 years, more than doubling in size. Palm Springs, as of the 2010 census, has a population of 44,522 growing from 21,650 in the early 1990’s. As of the 2018 census, the Palm Springs population was 48,378. Villa Ramon Apartments is located in the heart of the highly desirable Warm Sands area. The area is Palm Springs most cosmopolitan neighborhood. The property is walking distance to all the entertainment, shopping, and dining venues of downtown. Blessed by a tranquil south-end climate, Villa Ramon Apartments is nicely sheltered from the strong winds that are common to the northern section of the city. Villa Ramon Apartments is a two-story complex surrounded by palm trees and desert friendly landscaping. The building is designed with an excellent unit mix of 19 spacious units comprised of all two-bedroom two-bathroom units averaging 1000 square feet. Each unit boasts 9-foot ceilings, walk-in closets, floor-to-ceiling fireplaces, private balconies/ backyards, central air conditioning, hot water heaters and two parking spaces per unit. As demonstrated by the current owner a new Buyer has the ability to increase rents through interior upgrades such as wood-look floors, updated kitchens/bathrooms, new appliances, and fixtures as units turn. The upgrades would allow the property to stay competitive with the renovated apartment communities in the immediate rental market.

Exclusively Listed By

  • Andrew Irvine

    First Vice President Investments

    Email Andrew

    License(s): CA: 01927162

    Ontario

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