Vacant Triplex with Separate
For Sale
$850,000
29395 Avenida La Paz, Cathedral City, CA 92234
MULTI_FAMILY - Cathedral City, CA
Property Size4,442 SF
Lot Size0.19 Acres
Price / SF$191.36
Days on Market222
Property Features for 29395 Avenida La Paz
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bathroom 4, Bedroom 4, Bedroom 7, Bedroom 1, Bathroom 5, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 6, Bathroom 1, Bathroom 3
Parking
6
Parking features
Garage, Driveway
Directions
Please use Apple maps & Google maps
Subdivision
Cathedral City North
Standard status
Active
APN
675-231-029
Size
4,442 SF
Lot size
0.19 Acres
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1990
Floors in Building
2
Number of units
3
Listing Agency:
HomeSmart
(760) 844-7500
Listed By:
Miguel Briones · License #01705617
(760) 969-8401
Added: Jan 7
Changed: Aug 14
Last Checked: Aug 17 at 9:06AM
MLS# 26636901PS
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This vacant triplex at 29395 Avenida La Paz in Cathedral City is delivered ready to rent. The unit mix includes two 3BD/2BA homes and one 2BD/1BA unit with a bonus room. There are also two separate 2-car garages, providing dedicated parking for each unit.
The property totals 4,442 square feet on a 0.19-acre lot. Built in 1990, the triplex features central heating and central air conditioning to support year-round comfort.
With a straightforward three-unit configuration and no tenant occupancy noted at delivery, the property is set up for immediate leasing following close.
The property totals 4,442 square feet on a 0.19-acre lot. Built in 1990, the triplex features central heating and central air conditioning to support year-round comfort.
With a straightforward three-unit configuration and no tenant occupancy noted at delivery, the property is set up for immediate leasing following close.
Key Highlights
- Vacant triplex delivered ready to rent
- Two 3BD/2BA units plus one 2BD/1BA unit with a bonus room
- Two separate 2‑car garages
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,046
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,560,920
$1.6M
Cap Rate 7%
$1,114,943
$1.1M
Cap Rate 9%
$867,178
$867.2K
Market Conditions
NOI Build-Up for 4,442 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$113.5K $25.56/SF
− Vacancy
−$2.0K −$0.46/SF
EGI
$111.5K $25.10/SF
− OpEx
−$33.4K −$7.53/SF
NOI
$78.0K $17.57/SF
Area
Riverside County, CA
Vacancy
1.80%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,560,920
Cap Rate 7%
$1,114,943
Cap Rate 9%
$867,178
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$975.6K – $1.30M
NOI $78,046 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$1.03M
$898.8K – $1.20M
NOI $71,900 @ 7.0% cap · market cap 8.46%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,152 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Explore this area
Business Placement
Demographics for 92234, CA
51,509
Population
23,114
Households
2.2
Avg Household Size
42
Median Age
26%
College-Educated
81%
High-School Grad
14.8 sq mi
ZIP Area
3,480
Density / Sq Mi
$67,031
Median Household Income
$34,895
Median Earnings
$1,554
Median Rent
$420,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Vacant triplex delivered ready to rent with two separate 2-car garages and central HVAC.
Where is this triplex located?
The property is located at 29395 Avenida La Paz Cathedral City, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Vacant triplex delivered ready to rent; Two 3BD/2BA units plus one 2BD/1BA unit with a bonus room; Two separate 2‑car garages
