Great Opportunity to own an income producing property. These units are in a great location with close walking distance to shopping centers. Property consists of 4 Units, 2 buildings: each unit has 2 bedrooms & 1 bath. All units are currently rented. Rents are currently below market value: 2 units are at $1,100 monthly and 2 units at $1,150 monthly. Market rents should command +/-$1,250 monthly. Proforma NOI = $45,293.00 - Market rents to produce a CAP rate of +/- 6.0%. All units have a central HVAC, ceiling fans, washer/dryer hook-ups and small back patios. Zoning allows for upward expansion of the property up to three (3) stories high. Buyer to verify square footage, zoning, utilities and financials. PLEASE DO NOT DISTURB TENANTS - Leases and Tour available upon accepted Purchase & Sale Agreement. Please ask for an Income Statement.

  • MLS# 218028618DA
  • Sub-Type Resale
  • Status Active
  • Year 1960
  • Days On Site 12
Units 4
Building(s) 1
Listing Provided By:
Dick Baxley  of  Baxley Properties Inc
 
 
 
 
 
 
 
 
 
 
 
 
 
this listing $759,000
120.00%
$345,000 in 92260
this listing 12 on site
0.00%
12 on site in 92260

Location

State CA
County Riverside
City Palm Desert
Zip Code 92260
Area 322 - North Palm Desert

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