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    The Largest CRE Database in the US with Over 1 Million Listings

    69850 California 111, Unit 246 Rancho Mirage, CA 92270

    Sponsored
    For Sale
    Under Contract
    $279,900

    MULTI_FAMILY - Other - Rancho Mirage, CA

    Property size:
    1,075 SF
    Lot size:
    0.00 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 5 at 5:06 am

    Property Features for 69850 California 111

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active Under Contract
    Spa
    1
    Window features
    Shutters
    Rooms
    Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2
    Bedrooms
    2
    Bathrooms
    2
    APN
    689040017246
    Parking
    2
    Parking features
    Covered, Carport, Guest, Assigned
    Pool private
    1
    Interior features
    All Bedrooms Up, Granite Counters, Beamed Ceilings
    Exterior features
    Tennis Court, Sport Court, Balcony, Rain Gutters
    Fencing
    Chain Link
    Fireplace
    1
    Appliances
    Dishwasher, Disposal, Dryer, Gas Oven, Gas Range, Refrigerator, Stackable W/D Hookup, Washer
    Size
    1,075 SF
    Lot size
    0.00 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Natural Gas
    Cooling system
    Electric, Central Air

    Building Details

    Year built
    1958
    Floors in Building
    2
    Flooring type
    Tile
    Building materials
    Stucco
    Roof type
    Tile, Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    Melissa C Lundgren
    Melissa C Lundgren

    Berkshire Hathaway HomeServices California Properties (714) 998-8810

    Listing agent Melissa C Lundgren (760) 668-2544

    Listing date Feb 3, 2026

    MLS# 219138767 Listing URL

    Copyright © 2026 California Desert Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey Flat in Rancho Mirage

    Located in the heart of the Rancho Mirage corridor, this turnkey furnished flat offers a low-maintenance lifestyle within a vibrant, seasonal 55+ co-op community. Situated on 12.25 acres of private, gated grounds, Desert Braemar provides resort-style living with mountain views and sunsets. The community features a pool and spa, fitness center, pickleball and tennis courts, a fenced dog park, a garden/event room with a full kitchen, an outdoor grilling patio, a wood shop, lawn bowling, a putting green, and guest parking. Residents have an assigned carport with a locker and access to a secured community storage room. The location offers walkability to coffee houses, eateries like Willies and Palm Cafe, shops, hiking trails, and a greenbelt walking path. The HOA covers property taxes, water, Spectrum premium cable and internet, exterior upkeep, grounds care, and maintenance of all community spaces. The property size is 1075 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income properties

    Map

    City
    Rancho Mirage
    County
    Riverside
    State
    California
    Longitude
    -116.444517
    Latitude
    33.769126

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    FAQs

    What type of property is this?
    Residential income property - Low-maintenance, furnished flat in a vibrant 55+ Rancho Mirage community.
    Where is this residential income property located?
    The property is located at 69850 California 111, Unit 246 Rancho Mirage, CA.
    What is the asking price?
    The asking price for this property is $279,900.
    What are key features of this property?
    This property features: - HOA covers property taxes, water, premium cable/internet, exterior upkeep, grounds care, and maintenance of all community spaces.; - **Turnkey furnished unit** in a gated 55+ Co-Op community with resort-style amenities (cash purchase only).; - **Extensive amenities** including pool/spa, fitness center, pickleball/tennis, dog park, garden/event room, wood shop, lawn bowling, and putting green.
    (760) 668-2544
    Request Owner's contact information
    69850 California 111, Unit 246 Rancho Mirage, CA 92270
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    Rancho Mirage, CA 92270
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    69850 California 111, Unit 246 Rancho Mirage, CA 92270
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    We can help!
    Listing Contact
    Melissa C Lundgren
    Melissa C Lundgren
    (760) 668-2544
    Learn more
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