74443 Driftwood Drive,Palm Desert, CA 92260
Palm Desert, CA 92260
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!! Seller to pick services. Buyer/Buyer's agent to provide and pay for (email, DocuSign, etc) all TC services for Buyer & Seller, including all disclosures, documents/paperwork, they require for Buyer and Seller to sign. SELLER MAY CARRY!!! PLEASE CALL FOR DETAILS!!!
Details
| MLS# | SW25054919 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1974 |
| Days On Site | 45 |
| Listing Provided By | Burton Commercial, Inc. 951-375-7433 | Tony Burton |
Features
| SQ Feet | 3,188 |
|---|---|
| Car Port | Yes |
| Pool | Yes |
| Story(s) | 1 |
| Units | 4 |
| Building(s) | 1 |
| Zoning | R303M |
| Acreage | 0.21 |
Market Activity 92260
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Learn More About This Property
| State | CA |
|---|---|
| County | Riverside |
| City | Palm Desert |
| Zip Code | 92260 |
| Area | 323 South Palm Desert |
| Community Name | El Paseo Village (32310) |
| Listing VS Median (in El Paseo Village (32310)) | |
Price: $1,030,000 low | high Med: $1,149,999 SqFt: 3,188 low | high Med: 1,983 $ / SqFt: $323 low | high Med: $580 On site: 45 low | high Med: 14.000000 | |