Updated Residential Income
For Sale
$269,900
69850 Highway 111, Rancho Mirage, CA 92270
Residential, Rancho Mirage, CA
Property Size1,050 SF
Lot Size12.23 Acres
Price / SF$257.05
Days on Market178
Property Features for 69850 Highway 111
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bedroom 2
Parking
1
Parking features
Guest, Assigned, Carport
Spa
1
Window features
Blinds, Screens
Pool private
1
Interior features
Granite Counters, Vaulted Ceiling(s), Beamed Ceilings, Open Floorplan
Exterior features
Balcony
Fencing
Chain Link
Appliances
Dishwasher, Disposal, Dryer, Gas Oven, Gas Range, Microwave Oven, Refrigerator, Stackable W/D Hookup, Washer
Subdivision
Desert Braemar
Lot features
Landscaped, Level, Close to Clubhouse, Landscaped, Level, Close to Clubhouse
View
Park
Standard status
Active
APN
689040017
Size
1,050 SF
Lot size
12.23 Acres
Taxes and HOA fees
HOA Fee
$996 Monthly
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Central
Cooling system
Ceiling Fan(s), Electric, Central Air
Amenities
balcony
stack washer/dryer
pool
spa
tennis courts
pickleball courts
lawn bowling
putting green
fitness center
garden room
outdoor entertaining spaces
Building Details
Year built
1958
Floors in Building
2
Flooring type
Bamboo, Tile - Ceramic, Laminate
Building materials
Stucco
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices California Properties
(760) 323-5000
Listed By:
Melissa C Lundgren · License #02030835
(760) 668-2544
Added: Mar 9
Changed: Aug 19
Last Checked: Sep 2 at 6:06AM
MLS# 219145014
Copyright © 2026 California Desert Association of REALTORS®. 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 1,050-square-foot residential income property is a two-bedroom, one-bath residence in the Desert Braemar 55+ co-op community. The home features vaulted beamed ceilings, an open kitchen with granite counters and stainless appliances, bar seating, double bathroom vanities, a walk-in shower, and a stackable washer and dryer. A private balcony overlooks landscaped grounds and provides views toward the surrounding mountains.
The gated community occupies 12.23 acres and includes a pool, spa, tennis and pickleball courts, lawn bowling, putting green, fitness center, garden room, full kitchen, and outdoor gathering areas. The property is located at 69850 Highway 111 in Rancho Mirage, with nearby eateries, cafes, shopping, and walking trails. HOA coverage includes property taxes, water, cable, internet, and exterior maintenance and grounds care.
The gated community occupies 12.23 acres and includes a pool, spa, tennis and pickleball courts, lawn bowling, putting green, fitness center, garden room, full kitchen, and outdoor gathering areas. The property is located at 69850 Highway 111 in Rancho Mirage, with nearby eateries, cafes, shopping, and walking trails. HOA coverage includes property taxes, water, cable, internet, and exterior maintenance and grounds care.
Key Highlights
- 1,050‑square‑foot two‑bedroom, one‑bath co‑op residence
- Located in a gated 55+ community on 12.23 acres
- Open kitchen with granite counters, stainless appliances, and bar seating
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
$16,996
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
6.30%
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%
$339,920
$339.9K
Cap Rate 7%
$242,800
$242.8K
Cap Rate 9%
$188,844
$188.8K
Market Conditions
NOI Build-Up for 1,050 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
$31.5K $30.00/SF
− Vacancy
−$599 −$0.57/SF
EGI
$30.9K $29.43/SF
− OpEx
−$13.9K −$13.24/SF
NOI
$17.0K $16.19/SF
Area
Riverside County, CA
Vacancy
1.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$339,920
Cap Rate 7%
$242,800
Cap Rate 9%
$188,844
Alternative Uses
Best Use
Apartment 5plus
$242.8K
$212.5K – $283.3K
NOI $16,996 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$314.6K
$275.2K – $367.0K
NOI $22,019 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 92270, CA
16,999
Population
14,936
Households
1.1
Avg Household Size
66
Median Age
47%
College-Educated
95%
High-School Grad
25.6 sq mi
ZIP Area
664
Density / Sq Mi
$109,943
Median Household Income
$60,084
Median Earnings
$1,575
Median Rent
$747,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom co-op residence with a balcony, vaulted ceilings, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 69850 Highway 111 Rancho Mirage, CA.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 1,050‑square‑foot two‑bedroom, one‑bath co‑op residence; Located in a gated 55+ community on 12.23 acres; Open kitchen with granite counters, stainless appliances, and bar seating
