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$1,030,000
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Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID SW25054919
Bedrooms 2
HOA Y/N No
Lot Size 9,148 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
This offering is a rarity. A trophy apartment in the finest area of Palm Desert, the area of El Paseo! And it's just short walking distance from the El Paseo shopping district, grocery, and the Westfield Mall. Palm Desert is the finest area of the Coachella Valley, and the El Paseo district is the finest area of Palm Desert!! This 4Plex consists of four 2 bedrooms, 1 & 1/2 half baths. It further has carport parking, a beautiful pristine pool, and a large pool deck for tenants and guest. The kitchens are upgraded with newer appliances and granite counter tops. This complex further has central heat/air throughout. All tenancies are month to month and can be brought up to market. There's one vacancy and one unit who's currently a handyman/manager who can be brought up to market rents. PLEASE SEE RENT ROLL ATTACHED IN SUPPLEMENTS PACKAGE. Since rents are month to month, please check out the market rents you can get in this fine neighborhood. Nearby market rents per rent comps are $2,300 per month. PLEASE SEE RENT COMPS IN SUPPLEMENTS ATTACHED. At market rents, the complex really performs. It puts out $110,000 in annual gross income, a 9.33 Gross Rent Multiplier, a 9.84% Cap Rate, and a robust 21.95% Cash on Cash Return!! PLEASE SEE THE SUPPLEMENTS ATTACHED FOR DETAILS ON THESE RETURNS!! And we are priced at a very great buy!! Please see the latest sale comps attached. These sale comps are nearby 4Plexes, in Palm Desert, similar quality/age with similar beds/baths that sold at the following prices: 42662 Clifford Street sold for $1,335,000!!! 42612 634 Clifford Street sold for $
This offering is a rarity. A trophy apartment in the finest area of Palm Desert, the area of El Paseo! And it's just short walking distance from the El Paseo shopping district, grocery, and the Westfield Mall. Palm Desert is the finest area of the Coachella Valley, and the El Paseo district is the finest area of Palm Desert!! This 4Plex consists of four 2 bedrooms, 1 & 1/2 half baths. It further has carport parking, a beautiful pristine pool, and a large pool deck for tenants and guest. The kitchens are upgraded with newer appliances and granite counter tops. This complex further has central heat/air throughout. All tenancies are month to month and can be brought up to market. There's one vacancy and one unit who's currently a handyman/manager who can be brought up to market rents. PLEASE SEE RENT ROLL ATTACHED IN SUPPLEMENTS PACKAGE. Since rents are month to month, please check out the market rents you can get in this fine neighborhood. Nearby market rents per rent comps are $2,300 per month. PLEASE SEE RENT COMPS IN SUPPLEMENTS ATTACHED. At market rents, the complex really performs. It puts out $110,000 in annual gross income, a 9.33 Gross Rent Multiplier, a 9.84% Cap Rate, and a robust 21.95% Cash on Cash Return!! PLEASE SEE THE SUPPLEMENTS ATTACHED FOR DETAILS ON THESE RETURNS!! And we are priced at a very great buy!! Please see the latest sale comps attached. These sale comps are nearby 4Plexes, in Palm Desert, similar quality/age with similar beds/baths that sold at the following prices: 42662 Clifford Street sold for $1,335,000!!! 42612 634 Clifford Street sold for $1,365,000!!! FOR DETAILS ON THESE COMPARABLE SALES, PLEASE SEE SUPPLEMENTS ATTACHED. Seller to pick services. Buyer/Buyer's agent to provide and pay for (email, DocuSign, etc) all TC services, including all documents/paperwork, they require for Buyer and Seller to sign.
This offering is a rarity. A trophy apartment in the finest area of Palm Desert, the area of El Paseo! And it's just short walking distance from the El Paseo shopping district, grocery, and the Westfield Mall. Palm Desert is the finest area of the Coachella Valley, and the El Paseo district is the finest area of Palm Desert!! This 4Plex consists of four 2 bedrooms, 1 & 1/2 half baths. It further has carport parking, a beautiful pristine pool, and a large pool deck for tenants and guest. The kitchens are upgraded with newer appliances and granite counter tops. This complex further has central heat/air throughout. All tenancies are month to month and can be brought up to market. There's one vacancy and one unit who's currently a handyman/manager who can be brought up to market rents. PLEASE SEE RENT ROLL ATTACHED IN SUPPLEMENTS PACKAGE. Since rents are month to month, please check out the market rents you can get in this fine neighborhood. Nearby market rents per rent comps are $2,300 per month. PLEASE SEE RENT COMPS IN SUPPLEMENTS ATTACHED. At market rents, the complex really performs. It puts out $110,000 in annual gross income, a 9.33 Gross Rent Multiplier, a 9.84% Cap Rate, and a robust 21.95% Cash on Cash Return!! PLEASE SEE THE SUPPLEMENTS ATTACHED FOR DETAILS ON THESE RETURNS!! And we are priced at a very great buy!! Please see the latest sale comps attached. These sale comps are nearby 4Plexes, in Palm Desert, similar quality/age with similar beds/baths that sold at the following prices: 42662 Clifford Street sold for $1,335,000!!! 42612 634 Clifford Street sold for $1,365,000!!! FOR DETAILS ON THESE COMPARABLE SALES, PLEASE SEE SUPPLEMENTS ATTACHED. Seller to pick services. Buyer/Buyer's agent to provide and pay for (email, DocuSign, etc) all TC services, including all documents/paperwork, they require for Buyer and Seller to sign.
Location
State CA
County Riverside
Area Riv Cty-Palm Desert (92260)
Zoning Assessor
Exterior
Pool Private
Building
Story 1
Lot Size Range 7500-10889 SF
Level or Stories 1 Story
Others
Monthly Total Fees $144
Acceptable Financing Cash
Listing Terms Cash
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Listed by Tony Burton • Burton Commercial, Inc.