$1,600,000
$1,750,000
8.6%For more information regarding the value of a property, please contact us for a free consultation.
0.35 Acres Lot
SOLD DATE : 06/06/2022
Key Details
Sold Price $1,600,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Not Applicable-1
MLS Listing ID 219076623DA
Sold Date 06/06/22
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1991
Lot Size 0.350 Acres
Property Description
It's unusual to find a newer well maintained residential income property located in such a desirable neighborhood. Excellent location with high rental demand. A well maintained and renovated 4-plex in the heart of Palm Desert close to desired schools in a favored school district. The property consists of two 3bd/2ba units (end units #1 and #4) and two 2bd/2ba units (the middle units #2 and #3). Two units (#3 and #4) have been recently upgraded and renovated and are being rented at top market rents. The other two units (#1 and #2) both have long term tenants, both on month to month leases. There is a private community pool area with mountain views located in a quiet e cul-de-sac shared by other fourplex properties. An HOA covers roof, common area and pool/spa. Roofs were replaced in 2012, new efficient A/C's installed in 3 units within the past 2 years. All units offer nice privacy, enclosed patio spaces, two with fireplaces, private inside laundry and attached double car garages. Upside potential to renovate and remodel the remaining two units and get top market rents. Please ask for Income, Expense, Rent Roll and Projected Rent Statements.
Location
State CA
County Riverside
Area 322 - North Palm Desert
Interior
Heating Central, Electric, Forced Air
Cooling Central Air, Electric
Flooring Laminate, Tile
Fireplaces Type Gas Starter, Living Room
Fireplace Yes
Appliance Gas Water Heater, Water Heater
Exterior
Parking Features Direct Access, Garage, Side By Side
Garage Spaces 8.0
Garage Description 8.0
Pool Community, In Ground
Community Features Pool
Amenities Available Other
View Y/N No
Total Parking Spaces 10
Private Pool Yes
Building
Lot Description Corner Lot
Story 1
Entry Level One
Foundation Slab
Level or Stories One
New Construction No
Construction Status Updated/Remodeled
Others
HOA Name Palm Desert Park Village, Desert Management
Senior Community No
Tax ID 624330001
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Conventional
Special Listing Condition Standard
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Bought with Arthur Leslie • Nationwide Real Estate Execs