Palm Springs 7-Unit Apartment
For Sale
$1,688,000
238 S Saturmino, Palm Springs, CA 92262
7-unit apartment complex in desirable Palm Springs location.
Property Size5,733 SF
Price / SF$294.44
Days on Market185
Property Features for 238 S Saturmino
General Information
Standard status
Active
Size
5,733 SF
Building Details
Year Built
1963
Listing Agency:
REALTY MASTERS & ASSOCIATES
Listed By:
Michelle Bagi · License #02112864
(909) 642-0201
Source:
Myfabuloushome
Added: Apr 24
Changed: Oct 9
Last Checked: Oct 7 at 1:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REALTY MASTERS & ASSOCIATES
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7-unit apartment complex is located in a desirable area of Palm Springs. The property is situated in a strong rental corridor near downtown amenities, shopping, dining, and major transportation routes. The location has a bike score of 80, indicating it is very bikeable. The walk score is 69, meaning it is somewhat walkable, and the transit score is 34, indicating some transit options are available. This property offers investors stable cash flow in one of the Coachella Valley’s most sought-after rental markets.
Key Highlights
- Strong rental income potential in a highly desirable Palm Springs location.
- Proximity to downtown amenities, shopping, and dining.
- Convenient access to major transportation routes.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,797
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,855,940
$1.9M
Cap Rate 7%
$1,325,671
$1.3M
Cap Rate 9%
$1,031,078
$1.0M
Market Conditions
NOI Build-Up for 5,733 SF
Gross rent
$172.0K $30.00/SF
− Vacancy
−$3.3K −$0.57/SF
EGI
$168.7K $29.43/SF
− OpEx
−$75.9K −$13.24/SF
NOI
$92.8K $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 Rate 5%
$1,855,940
Cap Rate 7%
$1,325,671
Cap Rate 9%
$1,031,078
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,797 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,226 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 92262, CA
26,593
Population
19,940
Households
1.3
Avg Household Size
54
Median Age
42%
College-Educated
93%
High-School Grad
35.1 sq mi
ZIP Area
758
Density / Sq Mi
$70,514
Median Household Income
$42,940
Median Earnings
$1,420
Median Rent
$600,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - 7-unit apartment complex in desirable Palm Springs location.
Where is this apartment building located?
The property is located at 238 S Saturmino Palm Springs, CA.
What is the asking price?
The asking price for this property is $1,688,000.
What are key features of this property?
This property features: Strong rental income potential in a highly desirable Palm Springs location.; Proximity to downtown amenities, shopping, and dining.; Convenient access to major transportation routes.
