MLS® ID: 218028618DA

74316 Alessandro Drive

Palm Desert, California, 92260

$759,000 Active
  • 8 Beds
  • - SQFT
Always Leased! Current CAP at 5.3%. Great opportunity to own a income producing property. These units are in a great location being only 3 blocks to El Paseo & 2 blocks to grocery shopping and multiple restaurants. High school, middle & elementary schools are within walking distance. Property consists of 2 buildings with 4 units: each unit has 2 bedrooms & 1 bath. 100% occupied. Rents are currently below market value: 2 units are at $1,100. 1 at $1,150 & 1 at $1,200 monthly. Market rents should command +/-$1,250 monthly or more. Proforma NOI = $45,293.00 - Market rents to produce a CAP rate of 6.0% or higher. All units have 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. Buyer to verify square footage, zoning, utilities and financials. PLEASE DO NOT DISTURB TENANTS - Leases and showing available upon accepted Purchase & Sale Agreement. Income Statement and Marketing brochure attached.
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Listing courtesy of Baxley Properties Inc

Amenities

  • Zip
    92260
  • Office name
    Baxley Properties Inc
  • SQFT
    0
  • Bedrooms
    8
  • Property type
    Residential Income
  • Zoning type
    DEO (Downtown Edge Overla
  • Year built
    1960
  • Lot size
    11360
  • Tax year
    0
  • Agent name
    Dick Baxley
  • Tax amount
    $ 0.0
  • Purchase Type
    Active
  • Price Range
    $700k-$800k
  • Square Feet Range
    < 1000 sq ft.
  • Area
    Palm Desert North
  • Bedrooms Range
    8 Beds
  • Year Built Range
    1989 (and earlier)
  • Office ID
    1251844
  • Agent ID
    1543738

Location

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