39950 Bird Ln - Apartments FOR SALE


Rancho Mirage, CA 92270
$3,495,000 USD
909-815-7324
39950 Bird Ln, Rancho Mirage, CA for Sale
$3,495,000 USD
Apartments - FOR SALE
1/48
null | 4.83% Cap Rate

39950 Bird Ln
Rancho Mirage, CA 92270


HIGHLIGHTS

  • Adjacent 0.30 acre lot included; potential to add 8 units by merging parcels
  • Major Upside in Rents
  • Fully Remodeled Interior and Exterior
  • Gated Entry
  • Private Courtyard and Pool
  • Individually Metered for Water Electric

OVERVIEW

CBRE is pleased to present investors with the opportunity to acquire The Bird Lane Apartments located at 39950 Bird Lane, Rancho Mirage, CA. Built in 1964, this well maintained 11 unit property features extra spacious units with a unit mix offering (2) one-bedroom, one-bathroom 850 SF, (2) one-bedroom, two-bathroom w/office 950 SF, (4) two-bedroom, two-bathroom 1,100 SF, (1) two bedroom, two-bathroom townhome 1,250, and (2) three-bedroom, two-bathroom units 1,425 SF. The gated property offers covered parking, private courtyard and pool, fully remodeled interior and exterior. The complex is conveniently located near HWY 111. The 0.30 Acre lot next door is included with the property. This property offers a vast potential for rental growth, and the adjacent parcels present the potential to merge and add 8 new units to the vacant land, increasing the total count to 19, thereby unlocking new revenue streams and elevating the property’s value.

FOR SALE DETAILS

PRICE

$3,495,000 USD

PRICE/SF

$264 USD /SF

# OF UNITS

11

PRICE/UNIT

$317,727

CAP RATE

4.83%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

N/Av, Rancho Mirage

APN/PARCEL ID

689-202-030,689-202-031

ASK ABOUT THIS PROPERTY

Cray CarlsonCBRE, Inc.More Info
909-815-7324

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Cray CarlsonCBRE, Inc.More Info
909-815-7324

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.