Catylist ID:
#30341002
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 |
| Zoning: | DEO (DOWNTOWN EDGE OVERLAY) |
| 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 |
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 |
Contact
Sponsoring Organization
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