Multi-Family Income
For Sale
$269,900
69850 Highway 111, Rancho Mirage, CA 92270
MULTI_FAMILY - Rancho Mirage, CA
Property Size1,050 SF
Lot Size12.23 Acres
Price / SF$257.05
Days on Market162
Property Features for 69850 Highway 111
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Laundry Room, Bedroom 1, Living Room, Bathroom 1
Parking
1
Parking features
Carport, Assigned, Guest
Window features
Screens, Blinds
Pool private
1
Interior features
Beamed Ceilings, Partially Furnished, Living Room Balcony, High Ceilings, Brick Walls, Open Floorplan
Fencing
Chain Link, Brick
Appliances
Disposal, Microwave, Refrigerator, Gas Water Heater, Gas Range, Gas Oven, Dishwasher
Subdivision
Desert Braemar
Lot features
Landscaped, Level, Close to Clubhouse, Planned Unit Development, Lawn
View
Park
Directions
From Palm Springs heading East: Hwy 111 past Frank Sinatra ;U-TURN Atrium Dr; TURN RIGHT into Desert Braemar (entry gate). Once inside:park by the pool, walk on the left sidewalk (past the pool & garden room)Turn right on sidewalk-towards Unit 260. Cross Street: Hwy 111 and Frank Sinatra.
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
Central, Natural Gas
Cooling system
Electric, Central Air
Building Details
Year built
1958
Floors in Building
2
Flooring type
Tile, Laminate, Bamboo
Building materials
Stucco
Listing Agency:
Berkshire Hathaway HomeServices California Properties
(760) 323-5000
Listed By:
Melissa Lundgren · License #02030835
(714) 998-8810
Added: Mar 9
Changed: Aug 2
Last Checked: Aug 17 at 5:06AM
MLS# 219145014PS
Copyright © 2026 California Regional Multiple Listing Service, Inc. 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 for-sale multi-family income property is listed as an other residential income property and includes a 12.23-acre lot with a reported building size of 1,050 square feet.
The property is located at 69850 Highway 111 in Rancho Mirage, in Riverside County, California (92270).
If you’re reviewing options in the Rancho Mirage area, this asset provides a straightforward multi-family income profile with the above lot size and building square footage provided in the listing information.
The property is located at 69850 Highway 111 in Rancho Mirage, in Riverside County, California (92270).
If you’re reviewing options in the Rancho Mirage area, this asset provides a straightforward multi-family income profile with the above lot size and building square footage provided in the listing information.
Key Highlights
- 1958 construction with stucco exterior
- Central heating and cooling with natural gas and central air
- Private pool with brick and chain‑link fencing
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
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 - For-sale multi-family income property on a Highway 111 address, with a 12.23-acre lot and 1,050 square feet.
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: 1958 construction with stucco exterior; Central heating and cooling with natural gas and central air; Private pool with brick and chain‑link fencing
