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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1889 Cerritos Rd Palm Springs, CA 92262-3501

    • Apartment buildings
    • 9,366 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    May 10, 2024
    $2,600,000
    Value Estimations
    $2,485,000
    Show details
    Cap Rate Potential
    5.8%
    Apartment buildings
    Location Intelligence
    Property ID
    US10-1999471
    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

    • Apartment buildings

    Property Details for 1889 Cerritos Rd

    Year built
    1963
    Construction
    WOOD
    Lot size
    0.32 lot acres
    Property size
    9,366 SF
    Zone code
    P
    Property type
    Apartment buildings
    APN
    501-314-001
    APU
    501314001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,600,000
      ML approach
      $2,600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,525,000
      6.5%
      $2,330,000
      7%
      $2,165,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,386,000
      Market price range: $1.94M - $5.84M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $3,945,000
      Current use
      AUTO REPAIR, GARAGE
      $4,045,000
      Change: +2% Conversion: Difficult
      WAREHOUSE, STORAGE
      $3,235,000
      Change: -18% Conversion: Difficult
      RETAIL STORES
      $3,180,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Springs
    County
    Riverside
    State
    California
    Longitude
    -116.524
    Latitude
    33.8463
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $24,894
    $360,810
    $1,443,242
    $1,804,052
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $775,000
      8,914 SF

      205 Belardo Rd

      APARTMENT HOUSE (5+ UNITS) • 8,914 SF
      205 Belardo Rd, Palm Springs, CA 92262-6344
      View Details
    • Value Estimation
      $1,280,000
      81,431 SF

      390 Camino Monte Vis

      APARTMENT HOUSE (5+ UNITS) • 81,431 SF
      390 Camino Monte Vis, Palm Springs, CA 92262
      View Details
    • Value Estimation
      $560,000
      10,570 SF

      366 Mariscal Rd

      APARTMENT HOUSE (5+ UNITS) • 10,570 SF
      366 Mariscal Rd, Palm Springs, CA 92262-2934
      View Details
    • Value Estimation
      $410,000
      8,040 SF

      600 Belardo Rd

      APARTMENT HOUSE (5+ UNITS) • 8,040 SF
      600 Belardo Rd, Palm Springs, CA 92262-5669
      View Details
    • Value Estimation
      $2,215,000
      11,013 SF

      500 Cahuilla Rd

      APARTMENT HOUSE (5+ UNITS) • 11,013 SF
      500 Cahuilla Rd, Palm Springs, CA 92262-5656
      View Details
    • Value Estimation
      $420,000
      2,016 SF

      860 Chuckwalla Rd

      APARTMENT HOUSE (5+ UNITS) • 2,016 SF
      860 Chuckwalla Rd, Palm Springs, CA 92262-4725
      View Details

    Similar Nearby for Sale

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      Single-level condo with high-end remodel and mountain views.
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      Palm Springs Multifamily Investment Opportunity

      20-unit apartment complex in Palm Springs' Uptown neighborhood.
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      Turnkey furnished condo in a resort-style Palm Springs community.
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      1-bedroom condo with community pool, spa, and tennis courts.
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    Similar Nearby for Lease

    • $1,950 /Mo
      589 SF

      Updated Unit with Mountain Views

      Updated upstairs unit with mountain views, near downtown Palm Springs.
      675 N Los Felices Cir W, Palm Springs, CA 92262
      View Details
    • $2,300 /Mo
      583 SF

      Renovated Condo with Private Yard

      Newly renovated Palm Springs condo with private yard and garage.
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      View Details
    • $28 SF/Yr
      67,635 SF

      Palm Springs Office Complex

      Executive & Medical Suites, Prime Location
      340 Farrell Dr, Palm Springs, CA 92262
      View Details
    • $1.25 SF/Yr
      2,300 SF

      Palm Springs Warehouse/Office Space

      Multi-tenant building near Palm Springs Airport with office/warehouse space.
      1130 Valdivia Way, Palm Springs, CA 92262
      View Details
    • $3,850 /Mo
      3,080 SF

      Upscale Industrial/Office Space Available

      Premier light industrial space converted to training school/office. No CAM fees.
      1243 N Gene Autry Trl, Palm Springs, CA 92262
      View Details
    • $13 SF/Yr
      5,200 SF

      Palm Springs Industrial Warehouse

      5,200 SF Manufacturing Space, 0.39 Acres
      19024 Ruppert St, Palm Springs, CA 92262
      View Details
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    1889 Cerritos Rd
    Palm Springs, CA 92262-3501
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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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