Palm Court Apartments

Upside Rental Potential

• 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.
• Exceptional Educational Hub: This property boasts a prime location, housing prestigious educational institutions such as Links Academy, The Pinnacle School, and The Spire School. Witness the power of consolidation as The Greenwich Education Group and its three renowned schools have chosen this property as their new home.

Value-Add Opportunity

• 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 renovation project started September of 2019 and completed mid-December of 2020. The business was completely shut down during renovation.

Property History

• The previous owner was charging $0.25 per minute of wash time. All other self-serve carwash businesses within a 5-mile radius was charging $0.50 per minute. The carwash was in poor condition, with equipment that barely worked, no credit card readers, etc.
• Current ownership replaced all the equipment with new state of the art equipment and raised price to match competition. The consequence of these actions could effectively double revenue from pre-2019 levels.
• Primary Source: Federal, State and County dollars fund California's safety net services. California's FY 15-16 Enacted Budget for Health and Human Services is $54.34 Billion of which $5.94 Billion excluding infrastructure funding is allocated to the Department of Developmental Services.

HIGHLY DESIRABLE AREA

• The subject property is located in the highly desirable area in the Desert area of Indio. One mile South of Evergreen Avenue Highway and just one mile North of Big Red Mountain.
• Indio is a city situated in Riverside 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, Indio is the second-largest city within Greater Riverside Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area.

New Construction Coming

• The Port of Long Beach, also known as the Harbor Department of the City of Long Beach, is the second-busiest container port in the United States, after the Port of Los Angeles, which it adjoins.[3] Acting as a major gateway for US–Asian trade, the port occupies 3,200 acres (13 km2) of land with 25 miles (40 km) of waterfront in the city of Long Beach, California.

• The property is situated in Indio, a city known for its vibrant culture and annual events such as the Coachella Valley Music and Arts Festival.
• Indio is located in the Coachella Valley, a region famous for its desert landscape and outdoor recreational activities, including golf courses like the Golf Club at Terra Lago and outdoor music venues like the Empire Polo Club.
• The city is home to the Fantasy Springs Resort Casino, a popular entertainment destination offering gaming, dining, and live performances.

• The property is located in the city of Indio, CA, known for its vibrant festivals such as the renowned Coachella Valley Music and Arts Festival.
• Indio is part of the Coachella Valley, a region in Riverside County known for its desert landscape, golf courses, and luxury resorts like the Indian Wells Resort. The property's proximity to major highways, including the I-10 and CA-111, offers convenient transportation access for residents and businesses.