4 Unit Multi-Family Investment

Multi-Family for Sale
Catylist Listing ID: 30341002
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 3,200 SF
Gross Land Area: 11,360 SF
Sale Price: $759,000
Unit Price: $189,750 Per Unit
Property Use Type: Investment
Usable Size (USF): 3,200 SF
Sale Terms: Cash to Seller, Other
Cap Rate: 5.2%
Average Occupancy Rate: 100
Last Updated: 2/11/2019

Overview / Comments

Recently priced at $759,000!

4 Unit Multi-Family Investment

74316-74322 Alessandro Drive, Palm Desert, CA 92260

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 $1,150 monthly and 2 unit at $1,100 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.

• 4 Unit Multi-Family with 4 Addresses
• Each Unit 2 Bedroom, 1 Bath
• Approx. 3,200 SF Complex
• 1 Unit with Fireplace
• Swimming Pool
• Year Built: 1960
• Zoning: DEO (Downtown Edge Overlay)
• Capable of 3-Story Condos or Apartments
• Palm Desert Zoning Allows Short Term Rentals
• 0.26 Acres / Lot Size: 11,360 SF
• APN: 625-091-007

Attachments & Media

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Tax ID/APN: 625-091-007
Percent Occupied: 100%
Community Amenities: Outdoor Pool
Property Located Between: Deep Canyon & Portola
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 1
Year Built: 1960
Parking Ratio: 1 (per 1000 SF)
Parking Type: Surface
Parking Description: Front of structure parking on pavers
Total Parking Spaces: 8
Heat Type: Hot Water
Heat Source: Central
Fuel: Gas
Air Conditioning: Package Unit
Zoning Description: DEO (Downtown Edge Overlay)
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: FEE SIMPLE

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,527 43,766 104,525
Median Age: 44.52 52.26 52.12
Households: 4,611 21,159 49,248


Photograph of Listing Agent

Dick S. Baxley

Baxley Properties DACIE Member
Photograph of Listing Agent

Brandon Bedwell

Baxley Properties Not a member of DACIE

Sponsoring Organization

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