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    Property profile & analytics

    33034 Sky Blue Water Trl Cathedral City, CA 92234

    • Commercial real estate
    • 4,440 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0981933
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Alexa Star Pescadors / Condominium Complex

    Property Details for 33034 Sky Blue Water Trl

    Property size
    4,440 SF
    Property type
    Commercial real estate

    Description

    This exceptional four-unit apartment complex, located at 33034 Sky Blue Water Trail in Cathedral City, California (zip code 92234), presents a compelling investment opportunity. The property boasts a total of 4,440 square feet and is priced at $1,100,000, translating to a price per square foot of $247.75 and a price per unit of $275,000. The property's attractive 5.02% cap rate makes it a strong contender in the current market. Each of the four units features three bedrooms and two bathrooms, providing comfortable living spaces for tenants. Many units have undergone recent renovations, enhancing their appeal and potential rental income. The complex includes the convenience of four two-car garages, along with ample additional parking for residents. Situated in Riverside County, this property benefits from its location in Cathedral City, California. This turnkey investment offers a solid return and the potential for future appreciation. The property's strong rental history and well-maintained condition make it an ideal addition to any investment portfolio. This is a rare opportunity to acquire a well-maintained multifamily property in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cathedral City
    County
    Riverside
    State
    California
    Longitude
    -116.4698831
    Latitude
    33.8083839

    Comparable in this City

    • Contact for pricing
      19,868 SF

      Cathedral City Multifamily Development

      19-unit apartment building, prime location.
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    • New
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      19,868 SF

      New Multifamily Units in Cathedral City

      19 multifamily units under construction, prime location, Q1 2026 completion.
      68550 Grove St, Cathedral City, CA 92234
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    • $279,000

      Cathedral City Home with Patio

      Two-bedroom home in gated community with pools and fitness center.
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    • $255,000

      Canyon Shores Condo with Views

      Furnished 1-bedroom condo with mountain views in gated community.
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    • $829,000
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      Mid-Century Modern Multi-Unit Property

      Three-unit property with pool, valley, and mountain views.
      39091 Paradise Way, Cathedral City, CA 92234
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    • $60,000
      720 SF

      Cathedral City Home in Senior Community

      Two-bedroom home in 55+ community with amenities and convenient location.
      2 Harrison St, Cathedral City, CA 92234
      View Details

    Similar Nearby for Sale

    • $279,000

      Cathedral City Home with Patio

      Two-bedroom home in gated community with pools and fitness center.
      31200 Landau Blvd, Cathedral City, CA 92234
      View Details
    • $255,000

      Canyon Shores Condo with Views

      Furnished 1-bedroom condo with mountain views in gated community.
      35200 Cathedral Canyon Dr, Cathedral City, CA 92234
      View Details
    • Contact for pricing
      19,868 SF

      Cathedral City Multifamily Development

      19-unit apartment building, prime location.
      68548 Grove St, Cathedral City, CA 92234
      View Details
    • New
      $10,950,000
      19,868 SF

      New Multifamily Units in Cathedral City

      19 multifamily units under construction, prime location, Q1 2026 completion.
      68550 Grove St, Cathedral City, CA 92234
      View Details
    • $829,000
      1,806 SF

      Mid-Century Modern Multi-Unit Property

      Three-unit property with pool, valley, and mountain views.
      39091 Paradise Way, Cathedral City, CA 92234
      View Details
    • $60,000
      720 SF

      Cathedral City Home in Senior Community

      Two-bedroom home in 55+ community with amenities and convenient location.
      2 Harrison St, Cathedral City, CA 92234
      View Details

    Similar Nearby for Lease

    • $4,200 /Mo
      1,212 SF

      Resort Living with Dual Masters

      Gated resort community with pools, golf, and extensive amenities.
      67847 N Portales Dr, Cathedral City, CA 92234
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    • $21 SF/Yr
      81,315 SF

      Canyon Plaza East: Retail Spaces Available

      Cathedral City retail center; prime location, high traffic.
      67555 Palm Canyon Dr, Cathedral City, CA 92234
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    • $27 SF/Yr
      100,000 SF

      Cathedral City Retail Center Investment

      Prime Retail Space Available, High Traffic
      69115 Ramon Rd, Cathedral City, CA 92234
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    • $2 SF/Yr
      155 SF

      Cathedral City Office Space

      Office space available for lease in Cathedral City.
      35325 Date Palm Dr, Cathedral City, CA 92234
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    • $3,200 /Mo

      Cathedral City Office/Retail Space

      Versatile 1,531 sq. ft. office/retail space for lease.
      28401 Date Palm Dr, Cathedral City, CA 92234
      View Details
    • $1,575,000
      5,360 SF

      Retail Building on Date Palm

      Multi-tenant retail building ideal for owner/user or investment.
      32475 Date Palm Dr, Cathedral City, CA 92234
      View Details
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    33034 Sky Blue Water Trl
    Cathedral City, CA 92234
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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
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