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Sharlotte Blake

sharlotte@laluxestates.com +1(323) 219-1101

$2,949,000

Est. payment - /mo

0.8 Acres Lot

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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Subdivision Not Applicable-1

MLS Listing ID 219145029DA

HOA Y/N No

Year Built 1982

Lot Size 0.800 Acres

Property Description

This fully leased, ten-unit property features spacious three-bedroom, two-bath residences averaging approximately 1,230 square feet--each equipped with in-unit laundry, private patios, and covered carport parking. Residents enjoy a premier amenity package, including a resort-style pool and tennis court, all on a well-maintained 0.8-acre site.Strategically located just off the Rancho Mirage border, the property delivers central access to Palm Springs and Palm Desert, in a submarket characterized by increasing rents and enduring demand. Operations are optimized through separately metered utilities, tenant-paid water and trash, and solar-paned common areas, resulting in stable net operating income and low management intensity. Current collections reach an annualized $250,512 in rent and $254,512 effective gross income, supporting a strong in-place cap rate of 6% at the offering price of $2,949,000.Further value lies in the potential conversion of the existing rear ADU into an income-generating unit and the possibility for redevelopment of the tennis court area, pending buyer verification. This asset represents a rare blend of immediate yield and development upside--an attractive proposition for institutional and private investors seeking both stable returns and long-range growth in one of Southern California's most resilient rental markets.

Location

State CA

County Riverside

Area 336 - Cathedral City South

Interior

Heating Central

Flooring Tile

Fireplace No

Exterior

Parking Features Covered, Driveway

Carport Spaces 10

Pool Community, In Ground

Community Features Pool

View Y/N Yes

View Desert, Mountain(s)

Total Parking Spaces 20

Private Pool Yes

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 673141001

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Standard

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Listed by Albert Catalano Century 21 Affiliated Fine Homes & Estates #02253921

NEARBY SCHOOL & BUSINESS

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Sharlotte Blake

+1(323) 219-1101

Broker Associate | License ID: 02035876

Broker Associate License ID: 02035876

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Los Angeles, CA

69180 Victoria DR Cathedral City, CA 92234

Sharlotte Blake

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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69180 Victoria DR