Las Brisas Apartments

81-955 Hoover Ave.,
Indio, CA 92201

88 Units | Excellent Unit Mix

$8,700,000
Purchase Price
75
Number of Units
$116,000
Price Per Unit
68,500
Building SF
5.25%
Cap Rate
199,000
Land SF
$8,700,000
Purchase Price
75
Number of Units
$116,000
Price Per Unit
68,500
Building SF
5.25%
Cap Rate
199,000
Land SF

Investment Summary

  • Palm Court Apartments is a 150 unit multifamily property built in 1972. Camelot contains 1, 2, & 3 bedroom units. The property has had new roofs installed in the last 5 years. Stable occupancy and a stable income producing property.The College does not offer student housing and given the location of Heather Meadows.

Investment Highlights

  • Separate Electric Meters
  • Low Area Vacancy Rate of 4%
  • Excellent Unit Mix
  • Large Unit Sizes
  • Upside Rental Potential

Location Summary

  • The subject property is located in the highly desirable area in the Alamitos Beach area of Long Beach. One mile South of Pacific Coast Highway and just one mile North of the beach. Long Beach is a city situated in Los Angeles County in Southern California, on the Pacific coast of the United States. The city is the 36th-largest city in the nation and the seventh-largest in California. As of 2012, its population was 467,892. In addition, Long Beach is the second largest city within Greater Los Angeles Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area. The city is a dominant maritime center of the United States. The Port of Long Beach is the United States' second busiest container port and one of the world's largest shipping ports.
  • Palm Court Apartments is a 150 unit multifamily property built in 1972. Camelot contains 1, 2, & 3 bedroom units. The property has had new roofs installed in the last 5 years. Stable occupancy and a stable income producing property.The College does not offer student housing and given the location of Heather Meadows.
FOR MORE DETAILS CONTACT
Jennifer Frazier
Vice President
(949) 555-4856
jennifer@creop.com
0121554