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44600 San Rafael Avenue

44600 San Rafael Avenue
Palm Desert,CA 92260

Active $1,700,000

22,651

MLS #: CV17279452 | Built 1985 | Lot Size: 0.000000 Acres | Area: 699 - Not Defined | Type:


PROPERTY DESCRIPTION

Marcus & Millichap is pleased to exclusively market for sale San Rafael Apartments an 11-unit 62+ Senior Apartment Community, located in the city of Palm Desert. Built in 1985, the property is comprised two buildings on two separate parcels totaling approximately one half acre. The unit mix consist of six 1 bedroom/1 bathroom and five 2 bedrooms/1 bathroom. Construction is wood frame with stucco exterior, and Spanish tile roof. This property is located in a residential neighborhood and surrounded by single family homes and small apartment communities. San Rafael Apartments are less than a ten-minute walk and five-minute drive to famous El Paseo Drive. El Paseo Drive is Palm Desert’s main shopping district. The area around the street has evolved into an upscale shopping district featuring 150 boutiques, art galleries, and restaurants. El Paseo is often compared to Beverly Hills’ Rodeo Drive due to its concentration of posh retail outlets, high end restaurants, and lush landscaping. This offering presents an investor with the opportunity to acquire a turnkey asset in a great central Palm Desert location with plenty of upside. Currently the average rental rate at the San Rafael Apartments is 25% below market which is highlighted in the Rental Survey.

Listing Provided By
ALEXANDER GARCIA, MARCUS & MILLICHAP
Based on information from California Regional Multiple Listing Service, Inc. as of December 26, 2017. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

FILL OUT THE FORM BELOW & WE'LL BE IN TOUCH


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